Archive for September, 2007
There are only two real ways to get out of a car lease. These, at least, are the easiest ways, and they each have their own requirements.
The first and easiest way to get out of a lease is if you pay the remaining balance that you owe the dealership. This may be easy, but it’s a tough decision to make especially if you need a great deal of money to pay off the rest of the lease agreement.
The other way is to transfer your lease to someone else. Now, there are many car lease transfer services that can help you achieve this, but there is one problem to tackle: the car dealership that you leased your car from has to honor the possibility of a lease transfer. Basically, what you are doing is selling your car to someone else by charging that person whatever you paid for already and then have him continue the car lease that you applied for. This takes a lot of paperwork, and it will involve you trying to find someone interested enough to take over your lease.
Whatever way you end up with, there are difficulties. The question you have to ask yourself is, Will it be worth all that trouble just to get out of a car lease?
When out car buying, you may find that it may be a lot trickier than meets the eye. In fact, the real question that comes to mind is, “What is a lease deal?” And this indeed is the question that you should be asking yourself when you plan to buy a new car.
Finding a Lease You don’t necessarily have to stop by every car dealership to ask about their car lease specials. You can make your life a little easier by paying attention to the ads that appear on classified ad sections of the newspaper, banner advertisements on the Internet, and even television ads although these are far few and spread apart. Still, it beats having to hunt the car deals on foot, but if that’s a possibility for you and you don’t mind the hard work, you just might come across a great car lease deal.
Finding a good car leasing deal all lies in the way you can recognize it. You need to know the ins and outs of a leasing deal and understand all the hidden details about it. This includes getting to know all the different fees and even the penalties for not paying on time. Then you can ask yourself the following questions:
Is the lease negotiable?
Is there a low money factor I can depend on?
What is the acquisition fee and can I work with it?
Are there hidden charges and what are they?
If you can answer these questions on a positive level, then you have just found yourself a good lease deal. Of course, don’t settle for just one deal. Shop around until you have a few you can compare with each other.
Analyze It Spotting a good deal is one thing; spotting a bad leasing deal is something totally different. You may want to ask yourself the questions that you did for spotting a positive car leasing deal. But spotting a really bad deal involves getting into the real nitty gritty of a car lease contract. Remember that hidden lease charges might be the one factor that hits you hard if you don’t spot them. It’s not enough that you are paying a low monthly fee, and it won’t mean anything if you are being charged certain percentages on things that you were not aware about (this can include car insurance costs and even registration fees). Be aware of lease costs and all hidden charges, and if you have questions for the dealer, never be afraid to ask.
So, when it comes to car buying, remember the four factors: find car lease offers, recognize a good deal, analyze deals and weed out the bad car lease deals based on hidden charges. In addition, keep the dealers honest and ask as many questions as possible about their lease deals.
A leasing deal always looks good when you are first looking at it. What people tend to forget is how a lease turns out at the other end when the lease term is about to end. The thing about car leasing is that at the end of a lease, you may end up having to pay for excess mileage costs; and if you don’t take care of those miles, this could lead you into even more debt. How much would the penalties reach? That really depends on the excess mileage, but it can set you back as much as $5,000, and that’s just the minimum.
There’s no real way to get out of this because even if you settle for a trade-in, you still have to pay the mileage penalty, and then there is the possibility that if you trade-in earlier than the end-of-lease date, you may have to pay a termination fee because it’s the same as ending a lease contract before it actually ends. This is something that should be explored at the beginning of a lease contract. What other secrets can you think about when it comes to leasing a car?
Brakes – There are many issues concerning the way car brakes function. In the case of many low-priced cars, one such issue is known as “knocking.” This is something that is caused by the disc brakes that are either too tight or in some cases worn out already. What happens is that upon releasing the brakes of the car itself, a strange knocking sound is heard from the tires themselves. Have this checked by your dealer immediately to avoid any future accidents.
Windshield Wipers – Over time, the windshield wipers (and back window wipers) do wear out, and when they do, this can be damaging to the windshield glass. Avoid scratch marks to the surface of your windshield by replacing your windshield wipers when they start to make strange friction noises on your windshield. This will help you avoid the cost of replacing the windshield itself.
Mudguards – Other than the fact that they help mud from slinging mud upwards and towards the chassis of the car, a mudguard can also help in other ways such as deflecting small pebbles that can chip the paint of your car on door sides and the bumpers. Make sure that your mudguards are in top condition and replace them when necessary.
Mirrors – Whether it’s a side or rearview, always check your mirrors and keep them in pristine condition. If there are any cracks, replace them immediately. Over time, mirrors become less usable, losing clarity with age. Just as you would go about protecting your car windows, do the same with your car mirrors.Paint Job – When buying a new car, notice that sheen from the glossy paint? That can be severely damaged, and your paint can be eaten away by road salts or other elements like the rain and extreme sunlight. Make sure to wash and wax your car on a regular basis; if not weekly, then a monthly service should suffice. Buying a car cover also helps to keep your car away from moisture and dust that collects and sticks to the car surface. If you don’t like using a car cover, make sure to wipe your car down at least once every two to three days.
1. Check the insurance offers – Read up on the offers that come with the purchase of every new car. You may be buying something cheap, but if it’s insurance that can only cover you for less than a year, then think again.
2. Ask about maintenance – Ask your local dealer about what it might cost you if you go to their shop for a simple change of oil procedure. The first 1000 to 5000 kilometers will usually come with free labor charges and sometimes the offer will also include free oils and other consumables that will be used in maintaining the car. Also try to get a run down on costs for spare parts just in case you need to invest in any in the future.
3. Ask about the warranty – The usual? 3 years on parts and services. In this competitive day and age, some even offer as far as five years. And if you are investing in a hybrid vehicle, you just might get luck yon having your parts serviced and replaced for free within the first five years of your owning the vehicle.
4. Check the car – Do the brakes work fine? Does it accelerate well? Is it comfortable? Are there any small knocking noises or tugs when you go uphill or when breaking on a downhill slope? Do all the lights work? Does the onboard computer work properly (if any)? Are all the safety features the kind that you imagined (seatbelts, airbags, side impact bars, etc.)? These are only some of the questions that should weigh down on your mind when you are test driving a brand new car.
5. Check the lease – Are their hidden charges? How transparent are the dealers with you when it comes to their offers? What banks do they support for financing options? Is the person you are dealing with a legitimate worker for a legitimate dealership? Read the fine print on every paper that is given to you. Don’t cheat yourself on a potentially great deal.
- Aspare tire
- Triangle reflectors (to place on the road and indicate to other drivers that you are having a little car trouble)
- Tools (a jack, bolt loosener / tightener, WD40, screwdrivers, extra lightbulbs, fuses, a flashlight, portable tire pump, extra air valves for tires)
- Security measures (This can be anything from a taser to anything licensed by the police for your own personal protection from robberies and what not.)
- Car manual (It’s doubtful that you know every square inch of your vehicle. Don’t leave home without this.)
- A spare battery (only if you have the budget and the extra space in the trunk)
- An emergency fire blanket
- Miscellaneous oils and greases (brake fluid, engine oil, extra gas in a gas can, power steering fluid, engine coolant)
- Cleaning solutions (car wax, glass cleaning liquids, a spray can, clean and dry rags)
- Emergency light (A flashing bright light, like a strobe, is definitely something you may need especially if you are one who drives long distances at night. This will grab the attention of anybody within range.)