08.29.06
Posted in General, Auto lease at 6:44 pm by LeasingRus
Q: I have to turn in my auto lease within the next four weeks because the lease expires. I’ve always had the service work done at the dealership. What should I be aware of when I drop off the vehicle?
A: A consumer should be concerned about mileage and the condition of the vehicle. Make sure you speak to a representative before the lease expires. This will allow you to coordinate the drop date and time. It also will allow the company to have someone there to perform a condition report. It is extremely important to receive a copy of this report.
Never drop off the vehicle and leave without getting a copy. The report lists scratches, dents, dings, mileage and the condition of the exterior of the vehicle, from top to bottom. It should also evaluate the interior of the vehicle, making sure there is no ripped upholstery and so on.
Consumers need to keep in mind that once you drop off the vehicle, it is out of your sight and care. If you don’t have a condition report and something happens to it, you will end up paying to repair the damages and have no basis to dispute the charges. If you have time left on your lease, another option is to simply transfer your lease to someone else. The concept is to swap an auto lease, though not all leasing companies allow you to perform this, so check your lease agreement first.
Learn more on what you should know when you return your auto lease.
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08.28.06
Posted in General, General Leasing, Auto lease at 4:45 pm by LeasingRus
Chrysler Financial has announced the winner of a two-year lease from the “North, South, East, Guess” contest held at Camp Jeep earlier this month.
Chrysler invited participants to guess the number of antenna toppers packed into a Jeep Compass and, out of 1,289 entrants, Todd Radtke from Minnesota won the lease on a 2007 Jeep Compass.
Camp Jeep is one of several owner-loyalty programmes created by the Jeep division of Daimler Chrysler. According to Kelly Mankin, vice president for Chrysler brands marketing, “Chrysler Financial’s participation in Camp Jeep was an excellent opportunity to interact with customers and promote financial education in a fun way.”
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08.25.06
Posted in General, Take over a car lease, Swap a lease, Auto lease, Auto lease swap, Lease trade, Lease busters at 6:32 pm by LeasingRus
What You Need to Know After the Vehicle Lease Deal is Done
So you’ve signed your your auto lease agreement with the leasing company or through the dealership, and you’re about to drive out of the lot with your new auto lease. So now all that’s needed is to take care of the vehicle, baby her, keep a watchful eye on the miles or km, and simply return it at lease end (or auto lease swap)…right?…well, sort of…but what happens once the ink dries on the lease contract?
Once the auto lease is signed, this is only the beginning of your car lease. Once the auto lease is signed between the consumer and dealership, the auto lease contract is sent over to the leasing company. Once this happens, any concerns about the auto lease is now between you and the leasing company, not the dealership. Remember, the dealership only functions as an agent.
Well, that’s not totally true. You would want to contact the dealership about your auto lease regarding any concerns you have about the cars condition – ex. Issues related to the vehicles warranty repairs, recalls, parts questions, etc.
There is also the auto lease grace period. Sorry, the rumor of an auto lease grace period just doesn’t exist. If you decide you no longer want your car lease once you’ve signed the lease agreement, unfortunately there is no grace period in which you can cancel. Once you’ve signed the lease agreement / contract – that’s it, it’s legal and binding.
Learn more on auto leasing, what happens after the auto lease is signed, how to auto lease swap and more.
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08.09.06
Posted in General Leasing, Car Leasing, Auto lease at 4:44 pm by LeasingRus
In all the research you compile in your research for your next auto lease, in the end how do you know if you’re getting a good deal or bad deal? One of the most important parts of a successful car leasing deal is being able to quickly spot a good or bad deal.
Before stepping into negotiate with a dealer on your next auto lease, do your homework first. Three key things you should know before you engage the good cop / bad cop routine to get the best lease deal you can.
- Negotiating or finding a low lease price
- High residual value
- Low money factor (money factor)
It’s totally possible you won’t nail everything you want from the above three points, however if you nail even 2 out of the 3, you could be on your way to a great auto lease deal. It’s the combination of all these points that make a good deal and how you, the consumer feel, once the deal is done.
The above gives you a general idea of where to start sniffing in your research for a good lease deal. Learn more on the details of what makes a good car lease deal, or a bad lease deal here.
This covers the areas of looking at how to analyze the lease deal, where to look for a good lease deals, details on banks and credit unions, and leads into further details on how to negotiate a car lease deal.
Good luck in your dealings!
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08.02.06
Posted in General Leasing, Car Leasing, Buying versus Leasing, Financing, Auto lease swap, Car lease swap at 4:48 pm by LeasingRus
All auto leasing individuals should know that leasing a new car gives you a lower monthly payment than buying that car.
But buyer beware: Make sure you know about all the fees you might have to pay at the end of the lease, that’s if you opt to ride out to the end of your auto lease, or decide to auto lease swap.
Some consumers would be shocked at what they would have to pay if they turned in their auto lease to the dealer or leasing company early - known as auto lease termination. Even though you may have taken good car of the vehicle, returning a car lease early can be a costly experience. As outlined in all lease agreements, the disposition fee can be costly, and doesn’t cover any of the wear and tear you place on your vehicle throughout your lease term. The wear and tear fees alone can run past triple the amount of your disposition fee, and can be quite a sticker shock. This may include any dents, cracked windshields or dings, scratches, etc. So while you think the disposition fee on your auto lease was pricey, ensure you understand what the additional costs would be on the wear and tear.
Do your research a year or two before the end of the auto lease, as you may find an option to break your car lease through an auto lease swap; whereby finding another consumer to transfer the auto lease too and will assume the lease payments and contract.
Whlie auto leasing has its advantages over buying a car, ensure you understand fully the costs associated to the lease agreement upon returning the vehicle. FInd out what you’ll be charged for returning the auto lease early, and at the end of the lease when you terminate the auto lease. Find out the additional costs on wear and tear if you can, or what’s considered normal wear and tear on the vehicle.
Remember, before you opt to auto lease as your preferred form of financing that vehicle, ensure you understand the full scope of the pros and cons of leasing. Download the two ebooks available to consumers to help you make a better and informed descision. 1. 2006 Auto Leasing for Consumers and 2. Auto Lease Swap - How to Get Out of an Auto Lease Early
*Feel free to comment on our articles and posts.
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