Online car leasing has tremendously grown in popularity within the last decade, thanks to the rise of technology and e-commerce innovation. More and more folks are opting out of traditional leasing, which involves lots of driving, stress, and time investment, for a simpler and more seamless leasing experience that an online process can offer. Many people are wondering how fast they can secure a car lease online. The answer is very fast, and this is partly due to the recent rise of online leasing platforms, which we will cover in this article. It’s typical to secure a car lease deal within a few hours online, if not minutes, depending on the platform you use and the type of deals you’re looking for.
But before jumping into that, you as a consumer need to be educated on the differences between online and regular leasing, how to prepare for an online lease, the pros and cons of online leasing, and the fastest online leasing companies. So let’s get started!
Difference Between Online and Traditional Car Leasing
Traditional car leasing involves driving around to local dealerships, searching their inventory, and then filling out a financial application to see what kinds of offers they can give you. Typically, most people will go to one or two dealerships, and the process can take one to two days from finding a car to negotiating, and filling out all the paperwork. Of course, the convenience of feeling and seeing the car and being able to take it home the same day is great for many people, but that’s where the benefits end with traditional leasing. Because individuals don’t have the time or the energy to go to endless dealerships, they often take the deal without negotiating or shopping around. In most cases, leases done with traditional dealerships are more expensive compared to online car leasing.
With online car leasing, you don’t get the car the same day, nor do you get to test drive it. But what you do get is a ton of other valuable benefits. First of all, when you shop for a lease online, you are way more likely to get an absolute steal of a deal. And that’s because online platforms are like brokerages that have different dealerships competing against each other to earn your business, versus you being stuck with one or two local options. You also get an incomparable amount of transparency with an online car leasing platform; all the deals are laid out in front of you with all the terms, so you can see what’s really being offered. Online car leasing is also a lot more educational, so you’ll be armed with important information to make a smart decision on your lease. Now, let’s not forget to mention the convenience factor, which is one of the big reasons people go with online car leasing in the first place. With access to a smartphone or a computer, you can literally browse thousands of cars, apply for lease specials with a few clicks, and simply wait for your ideal car to be delivered to your front door.
Now that you better understand the differences between the two types of car leasing you may be wondering how long it takes to get an online car lease. Let’s get into it.
How Long Does It Take to Get Your Car if You Lease It Online?
As mentioned before, online car leasing is second only to traditional car leasing in the sense that you can’t get the car on the same day. This may take a bit away from the excitement of getting behind the wheel of that new model you have been eyeing for some time, but it’s still worth being patient due to all the upsides. There are also many factors that can make the process much quicker or longer.
If the car you want, with all the options and customization, is available in inventory, then you can get it delivered within days and not weeks. However, if it’s not, then there will definitely be some time you’ll have to wait before getting your ride. Obviously, the more customization you do, the less likely the dealer will have it available on the lot. So, if you’re very specific, you’ll have to wait for the dealer to get it from the factory.
Online car leasing doesn’t limit you geographically, so where the car is located will be a determining time factor as well. If the car you choose is at a nearby local dealership, you can get it fairly quickly, but if it’s on the other coast, this can take a week or so to get it delivered.
Overall, when leasing a car online, expect a few days to a few weeks to get the car delivered to your home. So if the matter is very urgent for you, then maybe work with an online platform that can target local dealerships to get you a deal and arrange the same-day pickup.
We got the timing answered, so what’s next? Next we will learn what to look for in an ideal online car lease service.
What to Look for in an Online Car Lease Service
Full Online Capability
There are many companies that claim to offer car leasing online, but very few actually offer the ability to shop, compare, and execute a lease deal completely online. That’s why you want to look for a company that has a strong website with lots of tools and a clean design. The reason we stress this so much is that a service that offers a full online lease experience will save you lots of time and money.
Extensive Dealer Network
The next thing to look at when working with a lease platform is to make sure they are connected to a large dealer network, or are a lease brokerage that can go to any dealer in the country. Some sites only work with a handful of dealerships, which means you may have to wait longer for your car due to a shortage of inventory.
Avoid Lead Generators
Just like in any other industry, when searching for online car lease sites, you’ll encounter a ton of websites promising you the service, but they are actually just trying to capture your contact info. These will typically be landing pages focused on collecting information, but you won’t get any lease results at the end, just a message saying you’ll be contacted. This would be okay if you’d get contacted by an actual lease broker, but you’ll just get bombarded by sales calls since they will sell your information to tens of different companies.
Read Customer Reviews
The best way to know more about a leasing company is to see what their existing clients are saying. Take some time to read their reviews on Google Places, TrustPilot, and any consumer review services. You’ll know right away if they are reputable, deliver on their promises, and what they specialize in.
By looking at these factors, you’ll only pick one or two great companies to work with. Overall, you want them to have an advanced and easy-to-use website, lots of tools and educational content, personal service, great reviews, and access to a large inventory of cars. If an online service has all of these, then you are in great hands.
It is time for us to get the best part and see some of the leading car leasing companies that offer speed.
Fastest Online Car Leasing Companies
As we mentioned before, the car leasing industry has changed dramatically in recent years and you no longer have to spend days driving and haggling for a mediocre deal. Thanks to technology, it is now possible to get a lease done with access to the internet within minutes. Of course, the only wait is to get the car delivered, which can be affected by customization, inventory, and location of the vehicle. And of course, the quicker your lease can be executed, the quicker the car gets on the transport, so that’s why you want to work with a company that can get this done quickly. So let’s review these companies below:
DriveOZ – The Winner
This revolutionary brand is all about focusing on speed, convenience, and high-quality service. You can select the car you like on their site, apply for the lease, and have a professional do all the leg work for you to negotiate the best deal, explain the fine print, and complete all the paperwork to execute your lease the same day. What makes DriveOZ stand out is they don’t let go of your hand once you sign the lease; they will follow up all the way through until you are sitting behind the wheel of the car. Let’s also mention that they work with any dealer in the country, so you’ll really get an amazing deal since everyone is going to be competing for your business.
Finn
This AI-inspired platform uses technology to evaluate lease deals in the country to present you with the best ones. Finn is focused on providing transparency and simplicity for their customers. Although their service is a little different from a traditional lease and is more of a subscription, you can change cars every 6 to 12 months and they don’t require a down payment. You can find a car you like, fill out the application, get it insured, and have it delivered to your front door without having to leave the site. It is by far an amazing service and offers great convenience, but of course, it comes with higher lease payments. If you are looking for short-term car leases and don’t mind paying more, this is a great service to go for; however, if you are looking for the most savings and lots of customizations, you’d definitely want to go with a different platform.
TrueCar
TrueCar is a bigger player and also a veteran on this list. They work with a large group of dealerships and have one of the smoothest online lease processes. With an amazing website and a ton of educational content, this is definitely one of the best in the industry to lease a car online with a complete end-to-end process. TrueCar is also very upfront with its pricing, so you see exactly what you will end up paying and how much to put down. TrueCar is a very reliable and well-known company that you can count on for a great leasing experience.
JoyDrive
Mostly focused on buying or selling cars, this company also offers car leasing of both new and pre-owned vehicles. They are not a broker but work with a syndicate of car dealerships to bring you great-quality vehicles. JoyDrive has one of the nicer and easier-to-use websites with bonus perks like a 5-day return and free car delivery.
After learning about all these companies and all the points before, you are all set to get your online car lease fast.
Final Thoughts
In conclusion, online car leasing is a game-changer. It’s offering lots of convenience, transparency, and better deals. It’s also very fast, with the only wait being the delivery of your car, which depends on customization, location, and inventory. If you are looking to lease a car, definitely give these online platforms a try, and you’ll likely save lots of time, energy, and money.
So if you’re in the market for a new car and are considering leasing it online, make sure to follow the tips and recommendations in this comprehensive guide. Good luck and happy car shopping!