07.25.06
Posted in General, General Leasing, Articles, Car Leasing, Auto lease, Auto lease swap at 4:39 pm by LeasingRus
Motortorque offers a good overview for consumer options to finance a car. So you´ve decided that you need a new car? Now, what is the right finance option to pay for your new car? There are several payment plans that you can choose from, and depending on your own circumstances, some may be more suitable than others.
Contract Hire / Car Leasing
One of the most popular forms of car finance, the car leasing company buys and owns the car that you have chosen. You then lease the car by paying the agreed monthly instalments over an agreed period of time. This finance method gives a lower monthly payment than a personal loan, allowing you to get a better car for their money. Most people like to lease for a term length that coincides with the length, in months, of the manufacturer´s warranty coverage so that you´re covered if something major goes wrong with your car. At the end of the lease, the customer simply takes the car back to the leasing company. Alternatively, the individual may be able to auto lease swap (sponsor) with another individual during the duration of the lease contract - though check with your leasing company first. Now, more on Motortorque’s auto finance options.
Permalink
Posted in General Leasing, Articles, Car Leasing, Auto lease at 4:05 pm by LeasingRus
Vehicle leasing company gets nod to buy rival. The Commerce Commission has given the nod for ORIX New Zealand Ltd to buy Truck Leasing Ltd, trading as Esanda FleetPartners.
The commission said it was satisfied that the proposed acquisition would not substantially lessen competition in the national markets for the provision of fleet management services and the provision of fleet auto leasing services.
ORIX New Zealand is a subsidiary of Japanese-owned ORIX Australia Corporation Ltd, which provides vehicle lease and fleet management services in both countries.
Esanda FleetPartners is the trans-Tasman specialist auto lease and fleet management business of ANZ. Truck Leasing Ltd runs the New Zealand operations of Esanda FleetPartners.
Permalink
07.07.06
Posted in Articles, Car Leasing at 6:20 pm by LeasingRus
ING Car Lease, a subsidiary of ING Wholesale Banking, has entered into an agreement with Jardine Motors Group and Barclays Mercantile Business Finance Limited to purchase the UK-based car lease company Appleyard Vehicle Contracts. The financial terms of the transaction are not disclosed.
The vehicle leasing acquisition marks a significant expansion of INGs UK car-leasing operation, and forms part of ING Car Leases strategy to increase its pan-European business operations both through organic growth and selective acquisitions. ING Car Lease acquired the French car leasing operation Autoplan in 2005.
The acquisition will boost ING Car Leases UK fleet by 27,000 units to over 43,000 vehicles, and positions INGs UK car lease business as one of the top ten fleet operators in the UK long-term contract lease market. Appleyard Vehicle Contracts employs 115 staff based in Leeds, who will transfer with the business.
Permalink
07.06.06
Posted in Articles, Car Leasing, Get out of a car lease, Take over a car lease at 2:20 pm by LeasingRus
Article: How to Get Out of a Car Lease and Trade the Lease
When Bruce heard about selling her 1987 Porsche 911 Carrera, he couldn’t resist the opportunity to buy it. “I’ve had my eye on it for many years,” says the 54-year-old Milwaukee cardiologist. The only problem: He already had four cars in the garage and one of them, a 2004 Mazda RX8, had nearly two years left on its lease. Understandably, Wilson didn’t want to park the car and have to make payments for the remaining lease term.The article mentions a friend told him about Swap a lease, a web site that facilitates lease transfers by posting ads from drivers who want to get rid of a car leases. While Swap a lease is a good American car lease transfer site, there are others consumers should not neglect as AutoLeaseBreakers.com and Lease Trader. Within a week, he was contacted by an interested driver in Indiana and completed all the paperwork with the leasing company, Wilson drove to O’Hare airport where car keys changed hands. “I was surprised at how easy the whole thing was,” he says. “I was completely unaware that there would be a service that allows you to get out of your lease early. I thought you just had to suffer with your lease until it was over, or pay a huge penalty.”
Terminating a car lease early can be an expensive proposition. Typically, the leasing company will require you to pay all remaining monthly payments, and sometimes even tack on interest or additional fees, according to Tarry Shebesta, vice president of the National Vehicle Leasing Association. That could add up to thousands of dollars to get out of a car lease. But thanks to web sites like Swap a lease, Auto Lease Busters, Auto Lease Breakers and LeaseTrader, consumers willing to get out of their leases early can find others looking to acquire a lease with a shorter term — and forego the hefty penalties. - More from SmartMoney or learn all about car leasing and how to get out of a lease, and transfer a lease.
Permalink
07.04.06
Posted in Articles, Get out of a car lease, Swap a lease at 12:01 pm by LeasingRus
Car Lease Swapping
Reported recently on CBS - for millions of Americans (and Canadians), car leasing has proven a viable way to get into a brand-new vehicle without the commitment attached to buying. But what if the lease is still too much of a commitment?
Lately, quite a few car leasing services have cropped up that match leasees with people who are willing to take over the leases. But as with anything there’s a catch. Offering up some tips is Smartmoney.com editor Ray Hennessey.
Most people lease a car because they want to have a bigger car they might not otherwise be able to afford to buy. Unfortunately, you are locked in for years when you lease and they are hard to get out of, which may leave a person feeling stuck.
But now, there are websites popping up offering new programs matching buyers and sellers, like www.swapalease.com, www.leasetrader.com and www.AutoLeaseBreakers.com. “What these guys do for a fee, if you have a leased car, you can put it on with the details of the car, and for a fee, people who are looking to buy a car towards the end of its lease can match up,” explains Hennessey. “That’s good for a lot of people who may want sort of a newer car for a couple of years, but don’t want the commitment to buy.”
The fees of lease swapping compared to breaking a lease on a car can be substantial. When you break the lease on a car, essentially you are buying it. “Even these services have a catch,” says Hennessey. “if you want to go through this and post your car up there, you can expect to pay 300 dollars. It’s not necessarily cheap.”
All the lease companies hate this lease swapping, so they add a lot transfer fees on this. “When you lease, they do it based on your credit, not the credit of the person assuming the lease,” Hennessey adds. Of course, not all car companies will allow you to swap the lease. They have a contract with you, and you are expected to live up to it, and don’t want you to get out of it.
Hennessey reminds there may be a lot of fine print to sort through, but these sites can be good for people who are looking for a new car for a short period of time and really don’t want to commit to a long term lease.
For additional and more extensive investing and personal finance content visit SmartMoney.com.
Permalink
« Previous entries · Next entries »