Archive for December, 2008
There may be circumstances in life where you will need a vehicle for a certain period of time, and don’t want to get locked into a long-term payment. Depending on your situation, short-term car leasing may be the best and most affordable solution.
Long-term car rentals are often the proper step if you need to drive a vehicle for just a short period of time. Car rent term can quickly get expensive, even with long-term rental discounts. However, if you will only need the car for six months or less, then renting is probably your best option.
If you are looking to keep a vehicle for a longer period of time, let’s say 6-24 months, then short-term leasing should be something you should consider. Unfortunately, this is not usually possible if you are looking to lease a new car. Most new car leases are at least 24 months or longer, so going directly to the dealer for a new car lease will only be a choice if you can commit to something more permanent.
The best solution for a 6- to 24-month use is a short-term car lease. Short-term car lease actually lets you take over or assume a lease, on a used vehicle from another driver. You’ll take over the auto, the monthly payments, and the time that is left on the lease, which can usually be from a few months to 2-3 years.
Short-term leases are often great bargains. Unlike a new lease, you will not have to come up with any sort of down payment or additional fees; you will just take responsibility of the payments each month.You must familiarize yourself with the leasing contract and the condition of the car since, in most lease terms, if you exceed the allowable mileage, you are usually charged at the end of the term.
Assuming a lease, even for a short duration, does require completing and changing the existing lease contract through the leasing company. If you may need the vehicle relatively quick, like right now, make sure all the paperwork is complete before you take the vehicle, in order to avoid any trouble in the end.
The best place to find short-term car leasing is on the Internet. There are a handful of specialized companies that match buyers and leaseholders together, and help facilitate the transfer of the vehicle. By going through a third-party company, you will have to pay a small fee, but you will increase your chances of getting a good lease deal and having the transfer done properly.
Short-term leasing may be the most practical way to meet your driving needs, especially if your finances do not allow for a large down payment. If you are in a situation where you need to drive a vehicle for at least 6 up to 24 months tops, you will probably get a great deal going through a company that specializes in lease assumptions and transfers. You can find a lot of stuff online, and by doing some research, you should be able to find plenty of lease deals that will suit your needs.
The logic of used car leasing is this: If leasing is based on the depreciation of a vehicle’s value, then it should be less expensive to lease a used car that has already seen its most rapid depreciation during its first year. Used-car leasing can apply to any late model used car, regardless of where you obtain it: from a dealer, from the internet, or from an individual.Unlike new-car leasing which is typically straight forward, used-car leasing is tricky and may require a little more attention. A comprehensive research is advised to ensure that the car you are leasing will suit your needs. Much information is available in car magazines and car websites. There are numerous ads in print and online. It is best to compare car models, costs, frequency of repair records, safety tests, and so on. Watch the mileage of the car, this should have no more than average mileage for the age of the car. Also consider the repair costs since most used cars don’t come with a warranty although there is an exception to this which is the “certified used car”. Most importantly, you must make sure the old car you want will be worth your money. It is important to get hold of price quotations from as many sites as you can.
There are many available used cars for lease and choosing one may be complicated. You should start by knowing your budget and analyzing your needs and knowing the features you require. When you have an idea of the type of car you want to lease, you can start your search online for used car quotes.
Websites offering used car quotes may be direct sellers or referral services connected to a network of other car sellers. It is easy to get a quotation from these sites. You just have to click on a specific car type, make and model. You also have to categorize the year the car was produced and how many miles it has traveled. The site then gives you a quotation at once or emails you the answer to your request.
One of the best ways to evaluate the used-car leasing is to compare your used-car lease quote to a new-car lease quote for the same model. New-car manufacturers’ promotional incentives, rebates, and discounts can often temporarily make a new-car lease a better deal than the used one. So before deciding make sure you’ve made your comparison.
You have two alternatives to financing your lease. One is to accept the lease company used by the dealer from whom you acquire the vehicle or you can arrange your own lease financing.
- Do your homework so that the process will be smooth or else be prepared since processing your car lease can be a tedium task.
- When you want to get the best out of your car lease, always tell the sales person upfront that you want to lease and you already have in mind what car to lease; and you know well enough about the car model. Give the car dealer the impression that you are well informed on car lease and that you know what is a fair deal.
- Let the car dealer know that if you get a fair lease deal, you’ll lease within the day or else you’ll find another dealer or car leasing company that will give you the lease you want.
- Negotiate for the car lease price (cap cost). Also ask about rebates, advertised specials, factory-to-dealer incentives, or discounts that can reduce your cap cost.
- Ask about the fees concerning acquisition, disposition or other charges that can affect your cost.
- Make sure you calculate your monthly payments. Compare your computed monthly payment with the dealer’s computation. When there is a difference, often it is a mistake, some are unmentioned extra charges, or your weren’t given the correct credit for your trade-in.
- Never tell the car dealer how much is the monthly payment you can afford – you can opt to give him the price instead.
- Don’t fall for the extended warranties, credit insurance, or add-on services.
- Generally, it’s best to deal at the end of the day, at the end of the month, on a weekday, on a rainy day, or any sluggish period.
- Never, never reveal to the car dealer how much you’re attracted to the vehicle.