January 2008 - Page 2 of 2 - CarLeasingSecrets

Archive for January, 2008

Car Leasing Guide: Sensitive Information

There is no car leasing guide in the world that will tell you who you can trust at a dealership and how safe your information will be with them. In a world that is now populated with even more identity thieves, it is thus more important for customers to get to know their dealers much better than they originally did. Even repeat customers of a dealership should get to know just how safe their information is when it is given away after the signing of car lease contracts.

It has only been in recent times that authorities have started to really crack down on identity thieves. But these criminals have been around for years already and some of them can even salvage information from the past that they can use at present and in the future. Where do they use this information? Identity thieves can do all sorts of things with the right information. They can open credit cards in other States, make purchases that they don’t have to pay for, and even assume the identity of other people just to hide from the authorities. This is a fact that can’t be ignored and this car leasing guide advises that you should be more careful with whom you are giving your information to.

Information such as your full name, Social Security number, credit card numbers, home address, office address, and even the addresses of friends and relatives can all be used by identity thieves. There have been cases where auto financing paperwork complete with filled in customer information have turned up in different States in the hands of fraud rings. Within the findings of most of these cases, it was discovered that the information provided in the car lease contracts were used to open multiple lines of credit in order for thieves to make purchases under the stolen identity.

These busted fraud rings are only a few of the many that exist throughout the world. Car leasing guide advice for customers is that they should ask about where all the paperwork is headed and if the information will be protected. The next time you sign a car leasing contract with your dealership, make sure to ask about where the paperwork will end up. Also be aware of what will happen to paperwork after the end of a contract.

One of the car leasing secrets that you should know is that dealers would rather you go for a lease instead of purchasing a car to own. This in itself is one tip to keep in mind the next time you walk into a car dealership. The reason is pretty simple; when you purchase a car to own, your payments end anywhere between 3 to 5 years and after that you are free of any monthly dues. However, car leasing will keep you paying for as long as you want to have a car to drive and as long as you have a contract with a dealer. Of course, there are ways to get out of a car lease but this can prove to be quite difficult.

Dealers love to lease out cars because this gives them an opportunity to add more interest to any of the cars that they will lease out to customers. Basically, you can own a car without even having to place a down payment, but the longer that you pay for a car, the lesser you pay on the monthlies. Now although this may seem like something good, the car leasing secrets fact is that it’s not because they add so much interest to the price of the lease that you may end up paying more for a car that you won’t end up owning at the end of a lease. Even worse, you might not know how much you are paying for the car even at the end of the lease because there are no laws that state a dealer should disclose the full price of a vehicle they are leasing. This is one of the reasons that dealers who do lease cars charge so much interest on leases. Just keep in mind that even initial payments will help you but only in the slightest way because you will still end up paying an interest charge of some sort in the monthlies.

The car leasing secrets advice here is to make sure that you are able to pay a high principal payment so that you can avoid high interest rates on monthly payments. It’s kind of like paying the minimum on a credit card where it ends up with lenders giving more finance charges. Leasing a car is not a bad thing but you have to realize that there are some car leasing secrets you should keep an eye out for, especially when it comes to dealings with your own money.

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