Car leasing articles, stories, knowledge, education and more.
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 »
Many consumers who’ve financed their vehicle through leasing that I’ve spoke to have eluded to the fact they’ve considered transferring their car lease. But why? Well, not for the fact that car leasing is a bad option, in fact it’s their preference of choice over buying with todays depreciating value of automobiles. Their main reason for wanting to transfer a car lease is due to personal or family obligations. I’ve heard people talk about transferring their lease because of wanting to save more money with considerating of purchasing a new home, or for a new baby is on the way, or simply financial obligations have popped up where the need for the money is needed. Then again, there are those people who simply want to upgrade to a newer model of vehicle part way through their lease.
Car Lease Transfer - Consider This First
Before considering to transfer a car lease, do the math first. Use one of the many online car leasing calculators to figure how much it will cost you if you transfer your car lease, or how much a new lease will be if you’re considering upgrading to a newer lease. To exit a car lease, or break a lease, its important for the consumer who’s taking over the lease to understand the benefits, and disadvantages of why they should take over a car lease. But before a consumer considers terminating a lease, they should understand any stipulations by the leasing company and if any penalties are required to be paid. Though to avoid any problems in the future from paying stiff penalties from exiting your auto lease early, ensure you consider all the options why you first negotiate the car lease.
For those seeking how to calculate a car lease, there are numerous online tools that provide you free online calculators. Though for those consumers seeking a more robust and more indepth look at calculating a car lease, there’s some great software on the market to allow you to crunch those numbers. Expert Lease Pro is a software available to consumers, purchased and downloaded from the web, that provides you more than just a auto leasing calculator or wizard. Expert Lease Pro is powerful auto leasing software that helps consumers negotiate the best possible deal (how to negotiate a car lease) on a new or used car, including car leases. Expert Lease Pro has been used by thousands of auto leasing and car buying consumers, and auto leasing professionals nationwide to negotiate better deals and save money. The software can provide valueable information on any auto lease or purchase, uncover hidden auto fees, overcharges and other car dealer tricks.
How much will my car lease payments be? How do you calculate a car lease? There are a few things you need to consider when calculating the car lease and how much your payments will be. You need to know the car lease MSRP, the final negotiated price, down payment, trade-in value, and tax, length of lease term, car lease lending rate and the estimated value of the car at lease end. There are various online calculators for car lease that can help you, but you don’t need to be a mathematician to figure it out. There are only a few numbers you need to know to calculate your car lease payments. These numbers, as mentioned above, can be supplied by your car dealer or leasing company. Here’s the jist on figuring out your car lease payments - though you need to do your own calculation unless you have your own lease calculator.
The Dollar Stretcher: Gary Foreman - Linda has asked a question that I get regularly. How can I get out of a car lease? Anyone who is already leasing or thinking about leasing should consider how they would answer Linda’s question. Linda needs to recognize that a car lease is fundamentally different from buying a car and making payments. When you buy a car you own it and have agreed to pay a certain amount for it. You can sell the car. Typically you can pay your loan off early. When you lease a car you’ve agreed to keep it and make payments for a certain period of time. You do not own it. So you can’t sell or trade it.
Ok - so our take on this is if Linda is currently leasing and deciding what are the options to get out of a car lease, well, there are a few. Linda can simply return the lease at the end of her lease contract, she can buy out her lease and the end of the lease agreement, or an alternative, which is growing in popularity, is to find someone to transfer a car lease too. In other words, bust out of the car lease during the current auto lease agreement and transfer the car lease to another consumer who’s seeking to take over a car lease for a short-term.
Though before she does, it’s best to use some form of car lease calculator to determine which option is finanicially best for her. In my opinion the best option is what best suites Linda’s financial situation and personal goals. If she has a baby on the way, or a new home purchase, or needs the money for school but still requires a car, her decision as to what financial option is best for her and the car lease depends on her situation - everyone is different.