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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09.22.06
Posted in General, Swap a lease, Auto lease termination, Terminate a car lease at 2:06 pm by LeasingRus
Is terminating a car lease before year end a good thing, or bad thing? For some who are considering getting into the 2007 models, or even get into a different 2006 model, now may be a timely opportunity to terminate your auto lease.
As the newer models of automobiles roll into the market, you can expect dealers to lower their prices on ‘06 models still in their inventory. Same for leases….so if you’re currently tied into a 3 or 4 years auto lease agreement, terminating your car lease early by swapping the lease with someone to take it over, may be a good time….that is if you’re considering to take advantage of the deals of this time of season.
But terminating your car lease can happen at any time. Returning the auto lease to the leasing company (which can be very costly) may not be the advantageous approach for the consumer. However, if you consider breaking your auto lease early by finding another individual to take over the car lease (known as swap an auto lease), then this time of season may be a good time to put your lease on the market for take over. Check first with your leasing company to can be a lease busters and ensure you’re able to swap a lease to terminate your auto lease first. Not all leases are transferrable.
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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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07.10.06
Posted in General, Transfer a car lease, Car lease assumption, Swap a lease, Auto lease, Car trade, Auto lease swap, Car lease swap, Auto leasing UK at 6:06 pm by LeasingRus
Auto Lease Insurance Steps When You Need to Break a Lease - Solution: Swap a Lease
So what happens when you lease your new auto, or take over an auto from a swap a lease, and the last thing on your mind is the idea of possibly losing your licence? Didn’t think of that did you?
It could easily happen to you - whether you lose your auto license from a DUI incident, or a medical condition prevents your from driving, or many other person reasons that could put you off the road for a temporary, or permanent amount of time. If any unfortunate incidents put you off the road or an indefinate amount of time - you’re still stuck with you auto lease payments - month after month. This leaves you two options - either return the vehicle back to the leasing company or dealership and break your lease and pay the stiff penalties - or find someone to swap a lease.
Get out of a lease early, or terminating a lease early, simply means you pay the difference between the total remaining car lease payments and the market value of the car. And with the lovely affect of depreciation, leaves you in the hole for a large sum of money. So, the best financial option would be to find someone to take over the lease. Finding someone to swap a lease can not be as difficult as you think. With a few online leasing marketplaces offering the services to find someone to take over auto leases, the option to break your lease early by swapping the lease to another consumer is easier than you think. Some of these auto leasing marketplaces include Auto Lease Breakers, Swap a lease, Lease Trader, Lease Busters. If you’re interested to learn more about auto leasing and swap a lease, take a read of our section on how to get out of a lease, or download our free consumer oriented ebook on how to swap a lease (printer friendly pdf file 
).
In this situation, the first thing you should look at before leasing an auto is if you can purchase “walkaway protection”, or “deficiency insurance” . Some leasing companies offer this as extra protection against your lease agreement. While each walkaway insurance may be different, as a new leasee it’s important you look into this. However, in the case you don’t have this insurance, or your situation doesn’t fall within the guidelines of the insurance policy (ex. typically the walkaway insurance covers loss of driving ability through no fault of your own - so DUI may not cover it), your next best option for your auto lease is to swap a lease.
Walkaway (http://www.walkawayprotection.com) is a Toronto-based firm with a unique form of insurance that allows consumers to end their car lease or loan painlessly should an unforeseen circumstance befall them. While traditional credit insurance has been around for years, it covers only death or physical disabilities. Walkaway covers a plethora of additional real-world situations, including: involuntary job loss, critical illness, loss of driver’s licence due to age or deteriorating health, international employment transfer, and personal bankruptcy of the self-employed.
Remember, bad things can happen to good people, so in the case you don’t have walkaway insurance or any other insurance policies to cover unforeseen circumstances, be sure to seek out the options of swap a lease to get out of an auto lease. Trading a lease to another individual to take over your auto lease is a great alternative to breaking a lease without inflicting the leasing company penalties.
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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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