Lease Cars
Lease Cars offer lower monthly payments than buying; and leasing allows you to walk away at the end of the term without the hassles of selling, trading or dealing with the smooth-talk, arm-twisting and sales tricks of dealers.
In fact, auto leasing affords considerable protection under the Federal Consumer Leasing Act.
If you don’t have money for a down payment or if you trade your car every two or three years, you may be a good candidate for a car lease.
The Internet has made it easier than ever to find out the dealer’s cost for each vehicle and its options. That’s the first step to getting the best possible lease deal.
Given two leases for the same car with identical down payments, mileage allowances, and other terms; here’s how to tell which one may be best for you.
If you intend to keep the lease for the full term and then turn the car in, the best deal is the one with the lowest monthly payments.
If you intend to buy the car at the end of the car lease, add up all the monthly payments plus the end-of-lease purchase price. The best deal is the car with the lowest total cost.
Estimate how many miles you’re likely to drive. The lease will typically cover the first 12,000 to 15,000 miles per year. You’ll pay an extra 10 to 25 cents for every additional mile driven, when the lease is up. If you know you’ll drive more than the basic amount, it’s cheaper to pay for the excess miles in advance.
You’ll pay a significant price for returning the car ahead of time. The disclosure statement you get from the dealer will tell you how the cost of breaking the lease is figured.
Lease trades are increasingly popular with drivers who are looking to get out of their current cars and into new ones.
When the lease holder can no longer afford the payment, or simply wants a cheaper alternative, or a shorter term than a car loan or even a full-length conventional lease would require, a lease trade could be the answer.
Lease trading can occur between any two parties who find each other through a variety of ways, such as an advertisement or on the Web site Craigslist, a lease trading service is the more common method. As its name implies, this is a third-party service that helps current and new lease holders transfer or assume car leases. Two companies, LeaseTrader.com and Swapalease.com are two of the most popular of these services.
For current lease holders who have experienced a job loss or other financial hardship, finding someone to take over a lease can help them get out of a tough financial situation without damaging their credit. Once the lease has been assumed by someone else, many car lease holders often find another cheaper lease to assume.
Searches for GM leases have remained steady. Corvettes and Hummers are in highest demand with a waiting list for Chrysler products.
Assuming a car lease is also a popular option with people who need a car for a short term, because lease assumptions can be as short as five months and allow the new lease holders to obtain a lower payment than a loan with no money down.
Anyone with good credit can assume a lease. And, current car lease holders can get out of their leases as long as the leasing company allows it and most do.
Escaping a car lease or assuming a new one involves some cost. There are transfer fees that range from $50 to $500, depending on the leasing company, and the lease trading services will charge a fee for setting up the match.
Go Home from Lease Cars.
Lease Cars