07.03.07
Posted in Articles, Get out of a car lease, Auto lease, Car lease swap at 4:41 pm by LeasingRus
7 ways dealers make you pay extra. Winning strategies for playing the car-buying game to win.
Your goal is to get the best car at the best price. The dealers’ goal should be to help you do this, but too often it’s simply to make as much profit as they can. As a smart shopper, you need to know the common strategies that dealerships use to pad their bottom line–from tricky negotiating tactics to trying to sell you unnecessary extras–and how to avoid playing their game. Consumer Reports’ auto-test staff, which buys more than 50 vehicles a year, has had hundreds of dealership experiences. Following are some of the most common things you could encounter and CR’s advice on how to avoid falling prey to them.
1. Mixing negotiations. Salespeople like to combine the vehicle price, trade-in, and/or financing negotiation, often asking you what you can afford to pay per month. This gives them more latitude to provide a favorable figure in one area while inflating figures in other areas. In the end, this could cost you more overall.
Avoid this trap by negotiating one thing at a time, starting with the price of the car. Approach this as if you were paying cash, with no trade-in. To get the best deal, you should go in with a starting price that’s based not on the vehicle’s sticker price but on how much the dealer paid for it. The dealer invoice price is commonly available on Web sites and in pricing guides, but that isn’t necessarily what the dealer paid. Read the rest of this entry »
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05.28.07
Posted in General, Car Leasing, Get out of a car lease, Car lease assumption at 9:18 pm by LeasingRus
That’s our bet over the next 2-3 years. With the large growth in environment conscious consumers, we’ll soon see more auto leases by dealers available for eco-friendly fuel cell hydrogen cars. As the climate and energy challenges in todays market lead auto manufacturers to make a solid contribution to the consumer industry for eco-friendly automobiles, those consumers who prefer the advantages of leasing a car will have a direct result on the increase in the already popular concept of auto lease assumptions (car lease take overs).
The age of the hybrid fuel cell car has arrived. As the vehicles see a solid improvement in fuel mileage, and the rising cost of oil and gas, more consumers will be opt to take on the new concept cars.
It’s still unknown how this will affect the industry of vehicle financing, but one can assume any increase in consumer consciousness of global warming will impact their vehicle purchasing / leasing decision, and those who go the green route will see an increase in these eco-friendly vehicles.
Our call is that we see more consumer understanding the benefits of leasing a car, we’ll see an increase in these fuel cell vehicle leases hit the market, and soon after the increase availability of eco-friendly hydrogen fuel cell car leases for lease assumption.
Do you have a Hydrogen vehicle you’re seeking to get out of a car lease? Let’s hear your comments - is the vehicle worth the hype?
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07.20.06
Posted in Get out of a car lease, Auto lease swap, Car lease swap at 5:45 pm by LeasingRus
Q. I leased a car two years ago and still have two years left on my auto lease. I have been having financial problems and wanted to cancel the lease. When I leased the car, I was able to afford a more expensive lease. When I contacted the lease company, I was told I would be penalized if I wanted to terminate the car lease. I am writing to you because I was told that there are companies that legally arrange for people to sublease a car lease, something like swap an auto lease? Are you aware of these companies and is it legal?
A. Yes, it is 100% legal. Thousands of consumers legally transfer their car lease or swap an auto lease to another individual each year. Some use Web sites such as AutoLeaseBreakers.com and other lease market place sites as Swap a lease and Lease Trader that faciliate the means to terminate a car lease and swap the auto lease.
While it is legal to transfer a car lease, there are leasing companies that prohibit it. You need to read your lease to determine whether or not there is a clause that prohibits you from transferring your lease.
You can learn more details on how to get out of a car lease and swap an auto lease to another individual through the free ebook on how to swap an auto lease.
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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.
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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.
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