Looking to take out a lease on a car in Tokyo Japan?
There are some important questions to ask about the contract before you sign. I’d be happy to discuss those with you. One area is the residual value of the contract and what happens at the end of the contract. The so called residual may not be the residual you think it is! E.g. The residual is set at 800,000 yen. At the end of the contract you have looked after the car well and there has been no damage, the km’s driven are within the limit allowed…you decide to hand the car back and not buy it out. Generally speaking you can just walk away from it at no cost correct? Well not so fast! Depending on the contract if the market value (according to the dealer) is 500,000 yen you will be asked to pay the 300,000 yen difference. Now this can be tricky as the lease company can on purpose up the residual to get the monthly down and hence lead you into a lease that you thought was a good deal…to good to be true!….the lease company has zero risk because they can adjust the amount payable at the end of the contract. You should ask for a guaranteed residual value.
I guarantee the residual on my leases! There are other points to be wary of. For more information on leasing a car new or used car in Tokyo Japan see www.micklay.com or email cars@micklay.com Call 03-3468-0804 or 090-3805-7141. Mick Lay.
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