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Short-term Car Leasing

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.

Car Leasing a Used Car

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.

Ten Tips in Negotiating Your Car Lease

  1. Do your homework so that the process will be smooth or else be prepared since processing your car lease can be a tedium task.
  2. 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.
  3. 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.
  4. 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.
  5. Ask about the fees concerning acquisition, disposition or other charges that can affect your cost.
  6. 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.
  7. Never tell the car dealer how much is the monthly payment you can afford – you can opt to give him the price instead.
  8. Don’t fall for the extended warranties, credit insurance, or add-on services.
  9. 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.
  10. Never, never reveal to the car dealer how much you’re attracted to the vehicle.

Getting the Best Out of Your Gas Mileage

Most lease contracts states the certain allowable number of miles for you to drive the car. Before jumping on that enticing car lease, it is advisable to have an approximate estimation of your car usage. You see, whenever you exceed the allowable mileage, you are usually charged for the excess when you return the car. To prevent this from happening, you have budget your allowable mileage in accordance with your car lease terms. This article will provide you tips on how to improve your gas mileage so that you in turn can get the best out of your car lease. 

Drive more efficiently. 

Aggressive driving (such as rapid acceleration, speeding and braking) only wastes your gas.  This can actually lower your gas mileage by 33 %  at highway speeds and by 5 % around town. Driving sensibly can also be safer for you and your passengers.

While each vehicle reaches its optimal fuel economy at a different speed (or range of speeds), gas mileage usually decreases rapidly at speeds above 60 mph.  So observe your speed limit, each 5 mph you drive over 60 mph is a $0.24 additional to your gas expenses.

Remove unnecessary items in your car that will only add non-essential excess weight that will actually  reduce your MPG by up to 2% if the weight is about 100 pounds. When traveling, don’t put every baggage on your roof rack since this will increase your aerodynamics drag and will will decrease your fuel economy by 5%.

Avoid excessive idling since this costs 0 miles per gallon. Also remember to use cruise control on the highway since this helps you maintain a constant speed and, usually, will save gas. When you use overdrive gearing, your car’s engine speed goes down. This not only saves you gas but it also reduces engine wear.

Always make sure that you regularly tune-up your car. Fixing a car that is noticeably out of shape  can improve its gas mileage by an average of 4 percent, though results will vary based on the kind of repair made and how well it is done. So make sure that you visit the mechanic regularly so that you’d avoid costly repairs and to maximize your car’s mileage.

When you have a certain allowable mileage in your car lease be sure to plan your trips.  Combine errands into one trip since this not only saves you gas but it will also save you time. Trip planning ensures that traveling is done when the engine is warmed-up and efficient. You can also commute every once in a while (car pool and ride-share programs), you not only cut your weekly fuel costs in half, it will also save wear on your car if you take turns driving with other commuters.

You can get the best out of your gas mileage from the start if you opt to lease a car that is fuel efficient. Selecting which vehicle you opt to car lease is the most important fuel economy decision you’ll make.

Things to Note After the Deal

After the contract is signed, it is already legal and binding so a deal is a deal. If you’re unhappy with the lease there is no grace period wherein you can cancel the deal. This goes the same with purchasing a car. However if you believe that a mistake have been made, contact your dealer or car leasing company.

If you absolutely must terminate your lease, the later you can wait, the better. When you terminate your car lease too early, it will extremely be costly.

If you want to move during the term of your lease, many car lease contracts prohibits you from doing this. Most car lease contracts prohibits their vehicles out of the country, some even prohibit moving it out of the state. Always remember to read the fine print.

Keep your end of the bargain, failure to do is a violation of your car lease contract. Maintain your vehicle, keep the contract-specified amount of the insurance, and make your monthly payments promptly.  Purchase tags, registrations, and pay taxes as required by your local government. Don’t make modifications to your vehicle, or fail to repay any damages. Don’t use the vehicle for illegal purposes, drive while drunk, or let unlicensed drivers use it. Pay all fines and fees associated with the vehicle.

Be sure to watch your mileage that it does not exceed the limit. If you find that you’re driving too many miles, try to take action to bring it back in line. You can try swapping your car with someone else every once in a while. If you have a pending road trip, you can opt to rent a vehicle for this rather than drive your leased vehicle. If you can’t simply stay within your mileage units, just realize that it will cost you whether you’re leasing, buying, or renting.

Novated Car Lease

Novated Lease is a car finance option that allows your employer to pay for your behalf from your pre-tax income for the term of the lease or as long as you’re employed. More and more companies are making it a centerpiece of their attraction strategy today. Novated lease is not something new, in fact it has been around for over 15 years. However in the past, a novated lease was solely available to top executives in white-collar jobs. As more employers sought more ways to attract and retain people, novated car lease has worked its way down the corporate ladder and a lot of employers now offer salary packaging to all staff who can afford it.

What are the Steps Involved in a Novated Car Lease? 

  1. You choose a car and organize a lease through a supplier or your employer may have their own car leasing company that they’d like to deal with.
  2. After the Deed of Novation is signed for the term of the lease, this means your employer takes on the responsibility of making your lease payments.
  3. Your employers makes the monthly car lease payments on your behalf through salary deduction.
  4. When your lease term is up you can either pay the residual in order to own the car outright, trade in the vehicle or refinance the residual with another lease or loan.

Despite that your employer is making the monthly lease payments for you, the car lease is in your name. At the end of the day, you are solely responsible of the car lease, including if you change jobs and your new employer will not take over the lease payments.

 What are the Benefits of a Novated Lease?
  1. One obvious benefit is the reduction of income taxes
  2. A Novated car lease can also increase the your (employee) spending power
  3. The opportunity to make money on the difference between the residual and the market value of the car
  4. Compared to getting a fleet company car, a employee can choose the car he wants, control the maintenance and take the car with them if they switch employers. There are also no restrictions on personal use and the company is not stuck with an unwanted car.

What Our customers are saying

The lease rate I got by calling the dealer was $67 higher than the rate I got from Car Leasing Secrets. It’s all about the local competition. So happy with my Benz!
 
Cristoph Wiese
Athens, GA
This is probably the easiest way to get quotes and compare them. I got one from each dealer in my city. One of them was surprisingly low. The quotes are free. No worries there.
Kristen Fletcher
Albany, NY
What a great way to shop around! I wanted a Corolla. There’s only one Toyota dealership in my city but I got a quote for a Honda Civic and decided to go with that one because I got such a good offer.
Mark Dolan
Missoula, MT