How to Determine If a Car Lease Deal is Good or Bad Most car lease deals may all seem to be great deals because monthly payments are so low when compared to an auto loan for the same car. However this is not the way to evaluate a lease. All car leases have four primary factors that go into calculating monthly payment: Capitalized cost – selling price of the vehicle plus any other costs, less … Read More
Are There Fees When Leasing a Car?
What are car lease fees? Many of the fees associated with car leasing are the same as when buying. There are taxes, tag and title fees, dealer “doc” fees, and other official fees that are charged regardless of whether a car is leased or purchased. However … there are some fees that are specifically associated with leasing. Fees at beginning of lease First, there will be an “acquisition fee” that is essentially an administrative fee … Read More
Unclaimed and Abandoned Vehicle Auctions
Can cheap cars be found at unclaimed vehicle auctions? Unclaimed vehicle auctions are held weekly and monthly in cites and towns across the U.S. to sell vehicles that have been left on the side of streets or in parking lots or otherwise abandoned by owners. These unclaimed vehicles are regularly sold by municipalities at public auctions. In many cases, the sales are held by towing companies who are authorized to pick up and sell the vehicles at auction. … Read More
Car Leasing How-To Explainer Videos
Money Factor in Car Leasing How to Use a Car Lease Calculator Car Lease Payment Formula Pre-Paid Car Lease Explained How to Get the Best Car Lease Deals How to Use a Car Lease Calculator New-Car Depreciation Explained
How to Lease a Car and Get the Best Deals
Best Car Lease Deals If you’ve checked out other articles on this LeaseGuide web site, you would have learned that the best car leases are made by finding or negotiating the best price on which the lease will be based, as well as choosing those vehicles that have the highest future resale values (lease residual value). However, there is a better and easier way. Car manufacturers such as Ford, Honda, Hyundai and most others regularly … Read More
Why Is Car Leasing So Misunderstood?
The Reason Car Leasing is Not Well Understood Leasing is a very popular alternative to buying a car with a loan, but even those who do it often don’t understand it. Others avoid it because they have misconceptions or feel it’s some kind of dealer trick that will get them in trouble. The basic reason that leasing is often misunderstood boils down to one factor — it’s more complicated and different than other types of common financial … Read More
Leasing with Upside Down Trade
Can I lease a car if I have a upside down loan on my trade vehicle? Being upside down on a car loan means having no trade value to use in buying or leasing another car. In fact, it means you must somehow pay off the remainder of your loan after a dealer gives you credit for the value of your trade vehicle. Your options depend on just how much you are upside down — the … Read More
Leasing to Hide Negative Equity in Car Loan
Is leasing a good way to cover negative equity from a car loan? Car leasing is often used as a way of “hiding” or “covering up” or “rolling” negative equity from a car loan. When trading a car with an “upside down” auto loan, the amount of the loan not covered by the value of the car is called negative equity. Somehow, that amount has to be paid — either with a cash down payment … Read More
Electric Cars and Leasing – Smart or Not?
Is Leasing an Electric Car a Good Idea? Many car companies sell all-electric vehicles (EVs). These relatively new types of vehicles are becoming increasingly popular as battery and charging technology improve mileage range and practicality. Deciding whether to lease or buy an EV is somewhat different than making that decision for a conventionally powered car. In fact, the argument in favor of leasing is stronger. Why is that? Electric car drivers tend to drive fewer miles … Read More
How to Turn In a Leased Car
How to Return a Leased Car Many people are caught unprepared at the end of their car lease when they must return their vehicle. What do I need to do? Who do I contact? Where do I turn in the car? Can I return to a different dealer, in a different city, in a different state? What happens next? Does the lease company contact me? Do I owe money? What if I’m over mileage? Or have unrepaired … Read More
Car Lease – Did I Get a Good Deal?
How To Evaluate a Car Lease Deal After the Fact Did I Get a Good Deal or Bad Deal? Even if you are familiar with leasing a car and have experience, it can get confusing when actually conducting a deal in a dealer’s office where there are numbers flying around left and right, adjustments being made, papers being signed, and fatigue setting in. You think you got a good deal on your lease, but did … Read More
Car Leasing for Teens
Is leasing a car a good idea for teens? Teenage drivers looking for an affordable way to get a car often look at leasing with its attractive low monthly payments — about half the monthly payment amount required to purchase the same car with a loan. But is leasing right for teenage drivers? First, let’s say that leasing a car is not possible for anyone less than 18 years old — because leasing is a form of … Read More
What is Car Leasing and Is It Worth It?
Is leasing a car worth it? We see this question being asked frequently but aren’t sure exactly what the asker means. Is leasing worth what? What is IT? Is leasing worth DOING? We think what is being asked is whether the option of leasing a car is worth considering versus the option of buying with a loan — the familiar lease-versus-buy question — and whether the benefits of leasing are worth whatever disadvantages it might have. It’s a … Read More
How to Lease Luxury Cars – Make Money Online
Lease Luxury Car – Make Income Online It’s a fact that high-end luxury vehicles and expensive sports cars are leased more often than purchased. Why is that? Contrary to some thinking, it’s not an affordability issue. It’s not that the “buyers” can’t afford to pay cash or make high monthly loan payments. Quite the contrary. Most expensive cars are leased by people who have money but prefer to lease because it’s convenient, doesn’t tie up … Read More
Sub-Lease
The term, sub-lease, as it applies to car leasing, means the act of transferring a lease from one party to another. Sub-leasing is usually called “lease transfer” or “lease assumption.” Transferring a car lease cannot be done as an agreement between two individuals. It violates the original lessee’s lease contract. However, with the lease finance company’s consent and help, such a transfer is possible and is a good, inexpensive way for an original lessee to … Read More
Car Rental
Need a rental car? What are the options? Anyone needing the short-term use of a vehicle should consider a car rental. Longer-term needs might be better met with other options. For rental periods less than a week, large national rental companies such as Hertz, Avis, Budget, and Enterprise will usually serve best. These companies also are best if the vehicle is only needed one-way, since they have offices all over the U.S. If a vehicle is … Read More
Lease Takeover
The term, take over a car lease, refers to the idea of finding an inexpensive way to get out of a car lease — or an inexpensive way to drive a car by taking over a lease from someone who is desperate to get out. Other terms are lease takeover, lease trade, or lease assumption. A car lease can often be transferred from the original lessee to another party who would like a relatively short-term lease … Read More
Break Car Lease
The term, break a lease, generally refers to the concept of ending a car lease before its normal contract end date. Since most leases are designed to be completed according to the schedule specified in the lease agreement, early termination can often be expensive. Many leasing consumers don’t understand that leasing is not renting and can’t be ended at any time simply by returning the vehicle. To break a car lease means breaking a legal … Read More
Swap a Lease
The term, swap a lease, as it applies to car leasing, generally refers to the concept of third-party lease assumption, made popular by Swapalease.com, a company that helps with the process. An auto lease can often be transferred, or “swapped”, from the original lessee to another party, thereby avoiding the high cost of early lease termination. The other party takes over the vehicle and assumes responsibility for continuing to make monthly payments, although many car … Read More
Take Over a Car Lease
What is a car lease takeover or lease transfer? How does it work? In a tough economy, automotive consumers look for affordable ways to drive the cars they need and want. Lease takeovers, or lease transfers, provide the ideal answer for many of these consumers. Although lease transfers have been around for years, it has now become the hottest new way to acquire a late model automobile at the lowest possible cost. Here’s how a … Read More
Lease Price
The term lease price refers to the negotiated or discounted price of a leased vehicle. Just as price can be negotiated when purchasing a car, price can also be negotiated when leasing. The lower the price, the lower the monthly lease payment. Price is the only factor that dealers can negotiate in a lease. All the other factors, such as money factor, residual value, and term are usually dictated by the dealer’s car company — … Read More
Invoice Price
The term, invoice price, as it relates to car pricing, refers to the wholesale price that car dealers pay for the cars they purchase from car manufacturers. Since all car dealers are independent businesses, they buy wholesale and sell retail like most other businesses. Simply stated, the difference between invoice price and whatever price a dealer is able to sell his cars for represents his profit. All businesses have to make a profit to pay … Read More
Car Leasing Simply Explained
Understand Car Leasing the Easy Way Although our Lease Guide thoroughly explains car leasing, the explanation can sometimes get a bit complicated and difficult to understand. The fundamental concept can get lost in the details. Therefore, we offer here a simplified example to help explain the basic concept of leasing a car. It’s possibly a bit over-simplified and not quite realistic, but hopefully gets the message across. In our simple scenario, a consumer, Alan, wants … Read More
How I Made a Big Mistake Leasing a Car
Customer Car Leasing Story A few weeks ago, we received a series of emails from one of our many viewers who told us he wished he had found our LeaseGuide web site before he leased his car. He realized after the fact that he had made a huge mistake in deciding to lease and that he would share his story if we would publish it and possibly help others not make the same mistake. Here’s … Read More
Auto Insurance for Senior Drivers
Car Insurance for Older Drivers How to get cheapest car insurance rates if you are a senior citizen Many older drivers or senior drivers have an opportunity to save significant money on their car insurance, especially if they’ve been with the same auto insurance company for years. Update your information One of the easiest ways to save money is to simply update your information with your auto insurance company. If your lifestyle has changed, if … Read More