07.30.08
Posted in General, Car Leasing, Transfer a car lease, Take over a car lease, Buying versus Leasing, Financing, Swap a lease, Auto lease, Auto lease swap, Auto lease termination at 4:22 pm by LeasingRus
If you want to lease one of Detroit’s big vehicles, things just got a lot more complicated. Is it worth it anymore
With so many auto financing companies getting out of the leasing business, you might think they don’t want you to lease anymore.
Leasing really makes sense if you’re absolutely sure you don’t want to keep a vehicle longer than the term of the lease (leasing terminology). It’s sometimes even sold as a way to “try out” a car before buying it (bad idea).
But if you want to hold on to a vehicle for a while, it makes more sense to buy one with traditional financing. That’s because the total cost of purchasing a vehicle after you’ve leased it will be a lot higher. Read the rest of this entry »
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01.02.07
Posted in General, Car lease assumption, Auto lease swap at 1:44 pm by LeasingRus
CNN Money reports car leasing makes a comeback.
Those interested in leasing a car this year, with interest rates rising, more car shoppers are attracted to low monthly payments, but be careful.
Auto leasing is, once again, becoming popular. The number of car leases is up 21 percent compared to last year, according to data from the automotive Website Edmunds.com.
“As interest rates rise, leasing is becoming a more attractive option for consumers,” said Alex Rosten, Manager of Pricing and Market Analysis at Edmunds.com. “Leasing allows car buyers to have lower monthly payments and get better ‘bang’ for their buck.”
In a lease, the car is actually purchased by a finance company. The “owner” of the car, meaning the person who keeps and drives it, only pays for the dollar value the car is expected to lose during the period of time he has agreed to keep it.
That amount is divided into monthly payments and, in some cases, an initial down payment.
Leasing typically costs less money per month than a typical auto loan. But its important to note that if you decide to keep the car after the lease term is over, it will cost you more. Leasing, and then paying to purchase the car costs more, in total, than simply purchasing the car with an auto loan from the very start. Read the rest of this entry »
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10.06.06
Posted in General, Car Leasing, Car lease calculator, Car lease assumption, Auto lease, Car trade, Auto lease swap at 6:34 pm by LeasingRus
The new vehicle leasing market is heating up as leasers offer more options and new car sales decline due to rising interest rates.
Zero percent financing and large cash rebates were the bait that brought car shoppers into dealerships the past few years. Now, instead of cut-rate financing, cut-rate leases are the attraction. Read the rest of this entry »
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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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08.02.06
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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