Archive for December, 2013
Car sales are expected to be strong in December, and makers have authorized incentives to sell or lease the remaining 2013 models. This is typically the best month to buy or lease a new car.
Many of these vehicles can be had with leases starting at under $300 per month with $0 down payment. Higher levels of discounting are being implemented to clear out 2013 stock. Experts believe transaction prices will continue to stay at record lows as 2013 comes to a close.
The average incentives per vehicle is currently around $2,300. There are some great deals to be had on leftover models such as the 2013 Nissan Altima, Honda Civic, Chevrolet Impala, and Chevrolet Malibu.
Volkswagen has increased incentives lately while other brands such as Hyundai, GM, and BMW continue to offer a variety of lease deals and 0% financing.
Interested in the previous generation Cadillac CTS? Dealers will offer up to $6,000 off the sticker price. 2013 Chevrolet Silverado pickups are being discounted up to $4,500 off list price. The 2013 Chevrolet Impala offers a $4,000 cash rebate.
And that’s all before negotiating with the salesperson to give up a sizable portion of the dealership’s markup to help clear out excess stock and meet year-end goals.
For free quotes from competing dealers on these and other great vehicles, visit www.CarLeasingSecrets.Com.
What’s happening at car and truck dealerships right now is big-time discounting, especially on 2013 model-year vehicles. “It’s the most wonderful sale of the year,” at least if you’re in the market for a car or truck.
There is currently a lot of pent-up demand. Between high fuel prices and a sad economic state, consumers have been holding on to their vehicles for longer than they used to. The average age of cars is now over 10 ½ years.
Probably the biggest reason to buy or lease now is price. Vehicle prices probably aren’t likely to go lower than they are now viagra en belgique. Experts estimate that between now and December 31 buyers will get the best deals and discounts of the year, with the New Year’s Eve discount estimated to average 9.3 percent – meaning some vehicles actually will carry much larger discounts.
A major reason prices are low on 2013 models is that when January 1 comes, all 2013 models are considered to be a year old, even if they’ve never been driven off the lot, automatically making them worth less, so manufacturers and dealers are eager to get them sold. Another reason for discounts is that dealers are trying to hit year-end sales targets.
End of year lease deals are especially good. Leases went out of favor for awhile, but are finding new popularity with higher residual values, especially for drivers who stay below a mileage cap. Drivers who want to turn in new vehicles more often or need to keep monthly payments lower can find great deals this Christmas season.
Whatever the name – a “Season’s Best” event, “Year-End Wrap Up,” “Red Tag Sale,” “Winter Event,” or something more inventive or melodic, car dealers are wheeling and dealing and consumers are the winners. To find the best lease offers from nearby dealers, visit CarLeasingSecrets.Com!
Consumers who lease a car usually do so because they get the chance to drive a newer, “better” car at a lower price. But customers who are interested in leasing should make sure they read the fine print before signing a contract. Here are five common car leasing mistakes that consumers should avoid.
1. Paying to much up front
Dealers advertise low monthly car lease payments on new vehicles, but shoppers are then asked to pay thousand dollars at the beginning of the term to get that low monthly payment.br> That money is then used to pay a portion of the car lease in advance. But this could be a problem if the vehicle is wrecked or stolen within the first few months.
If that were to happen, the insurance company reimburses the dealer for the value of the car, but the money the customer paid upfront is rarely refunded. As a result, the consumer wouldn’t have a car, despite having spent a lot of money for the time period.
Generally, you shouldn’t pay more than about $2,000 in advance. In many cases, it makes sense to put nothing down. With less money paid upfront, the monthly payment will be higher. As an alternative, lessors could take the down payment cash and deposit it in an interest-bearing account instead which could be used to supplement the monthly payments.
2. Forgetting gap insurance
The value of a new drops significantly after it’s driven off the lot — and leased cars are no exception. If a leased car is stolen or totaled and the insurance company makes a payment for the value of the car, it may not cover the consumer’s total obligation under the terms of the lease.br> The driver would likely have to come up with the balance out of pocket unless he has gap insurance. Ask if the contract includes gapinsurance. If it doesn’t, consider finding a car with a lease plan that does.
3. Underestimating miles driven
Many leasing companies advertise low monthly payments because they have low mileage limits. It’s common for leasing contracts may have a maximum of 12-15,000 miles per year, he says. If drivers go over the limit, they could be charged an extra 18 cents to 25 cents per mile at the end of the lease. Know your driving habits prior to signing. If necessary, ask for a higher limit. However,tThe required monthly lease payment would likely increase as well.
4. Not maintaining the car
If the car is damaged beyond normal wear and tear, the driver could end up owing extra fees when it’s time to turn it back in.br> Generally, if the vehicle has a scratch but the mark is less than the size of a driver’s license or business card, many companies will consider it normal use. if there’s damage to the car, the driver has an opportunity to have it fixed on his or her own dime before turning it in. Otherwise, the leasing company will assess a value to the damage.
5. Leasing for too long
Most car-lease terms range from two to four years, though some can go longer. Drivers who lease cars for too long could end up paying extra money on maintenance. Consumers should not lease cars for more than the car’s warranty period.
If a consumer plans to be in the same car for a long time, it’s probably better to purchase it. If the driver owns the car, he’d have to pay for the car as well as maintenance, but then he could continue to drive it for several years without a monthly payment for a lease.
New data shows that auto leasing hit a record high this year. Currently, the average monthly payment on a lease is about $50 less than it is for car buying with an auto loan. Customers are now hunting for the lowest monthly payment with a new car or truck, and that often means leasing.
Leasing comeback with auto rebound
Three years ago, just 17.7 percent of vehicles bought with financing were leased. But leasing has soared since then due to a combination of more aggressive leasing offers by automakers and buyers searching for the best option to keep monthly payments in check amid rising new car and truck prices.
Case in point: pickup trucks. A few years ago, the monthly payment for a 3-4 year pickup lease was often around $500 while buying the same truck with an auto loan would cost approximately $400 per month. Today,the opposite is true, as better terms and the extremely low interest for lease offers make it often less expensive to lease pickups rather than buy. Therefore, pickup truck leasing has gained a lot of popularity.
Amount Financed, Loan Length Climbs
The average transaction price (the final price buyers actually pay dealers) for a new car or truck is now greater than $31,000. The average amount financed by buyers has increased to $26,526.
At the same time, the length of a typical auto loan has increased by a month to 5 years and 5 months. Because they are taking out longer loans at interest rates that are usually just over 4 percent, many car buyers are changing their approach at dealerships. Car buyers are increasingly taking cash back over the lowest interest rate being offered, because rates are already so low.
Check out CarLeasingSecrets.Com for the lowest current lease deals available near you.
So, you’ve already gotten a great deal on a new car lease using CarLeasingSecrets.com. You’ve rolled the downpayment, taxes, title and other fees into your monthly lease payments, so your costs will be zero at the lease. Do you need to buy gap insurance to cover yourself in case of theft or severe damage?
By rolling all the costs associated with the car into the monthly lease payment, it IS possible that you would owe more than the car was worth if you experienced a total loss soon after the start of the lease term. Gap insurance bridges the gap between what a car is worth and what you owe at the time of the loss, and would provide you the protection from that cost. However, you may not need to purchase it.
First, find out whether gap insurance is built into the contract. Keep in mind the term “gap insurance” may not be used in the contract, and a more general term such as “lease coverage” might be used instead.
If gap insurance coverage isn’t built into your car lease contract, then you may want to supplement your current auto insurance policy or purchase it separately. The general formula is that a car loses about 10 percent of its Manufacturer’s Suggested Retail Price the moment it’s driven off the lot. So compare your total cost, including taxes and everything you rolled into the lease, to the car’s MSRP, and see if you have a “gap” from the start.
Keep in mind that the “gap” is constantly changing as you make your monthly payments and the car depreciates. So you definitely won’t need the coverage for your entire lease term. In fact, you may only need it for a few months, depending on the deal you negotiated.