The leasing world has triumphs and defeats in its battle towards other forms of car ownership. But time and again, car leasing companies have to elbow in themselves in the crowd to assert the effectiveness of car leasing as an affordable and reliable form of car ownership.

We managed to come up with a set of the latest misconceptions that might be regarded as urban myths about leasing. It helps if you are well informed of what the majority thinks about car leasing in general.

The first myth is that leasing is always cheaper than buying a car. Relatively, leasing is quite cheaper since you only have to pay monthly for the depreciation value of the car as you use it through time. This is different when you decide to buy out the leased car at the end of the contract since if you’re going to sum up all the monthly payments and the buy-out price it will be much higher compared to a brand-new purchase.

Another myth is that the new disclosure laws give auto owners the full protection. Due to a lot of complaints about hidden fees in lease contracts, a law has been passed that requires dealers and leasing companies to accomplish a form of disclosure, providing lease details, most specifically the hidden charges for wear and tear, gap insurance, excess mileage, and others. However protective the law may appear, it should be known that the interest rates are not required to be disclosed by these dealerships. The fool-proof way of protecting yourself is to stick to a well-reputed licensed dealer.

The dealers can’t charge you after you returned your car at the lease’s end. This is entirely farcical since a lot of lessees have already complained about being charged for a dozen fixes right after they returned their car to the dealers after the lease. To make sure that you won’t fall on this trap, make sure to read the end of term conditions, to make sure what fees you need to take care of. It’s also a good idea to hire a third party to check on the overall condition of the car at the end of the car lease and come up with a vehicle report for the dealer to based on.

The fourth myth is that only rich people go into leasing than buying. This might be brought about by the fact that car leasing is for luxury cars only, which is not the case. The real thing about leasing is that what matters most is a good credit background and not the purchasing power of a prospective buyer. According to the book The Millionaire Next Door, by Thomas J. Stanley and William Danko, 80% of millionaires buy cars and not lease. Car buyers who are not really into the millionaire status are in fact more credible for a dealer for as long as he has a good credit background.

The last myth is that leasing has tax advantages than buying. The truth is that leasing has a friendlier way of calculating its taxes, making it easier to find out how much it’s going to cost you, hence, easier to accomplish payment or fix a deal for a certain cost.

Source: https://www.bankrate.com

The mighty green car has so much in its mechanical structure that contributes to less fuel consumption and emission. Check on its parts and discover the efficiency and nature-friendly structure of the car

Electric motor: The sophisticated electric motor has advanced electronics to draw and return energy in car batteries.

Gasoline engine: The engine run with gasoline has technological innovation that reduces innovation and increase efficiency.<

Fuel tank: This is a specialized storage of the gasoline engine. The good thing is that gasoline has better energy density than batteries, making the car more efficient.

Batteries: They serve as the storage device for energy that activates the electric motor.

Generator: The generator’s main role is to produce electric power.

Transmission: Transmission on a hybrid car is the same as what’s found on conventional cars, only that you can make use of this in the different combination usage of the electric motor and the gasoline engine.

What are these two combinations? Just to make things clearer for you

Parallel hybrid: This means both the electric motor and the gasoline engine can turn the transmission which in turn can power up the wheels.

Series hybrid: The generator revved up by the gasoline engine has two options to power up the car: charging the batteries or pumping up the electric motor.

All these make the hybrid a good initiative to take for fuel efficiency and less emission and consequently, for a healthier environment and cost-efficient transportation means.

It’s usual that we hear about a car lease and how different it is from car buying, but we don’t hear a lot about novated car leasing.

To start off, let’s define the term. A novated car lease is that financial agreement between an employer, the employee (who is the car user), and the financier. It is some sort of a salary packaging wherein the employer agrees to be responsible for the obligations of the employee under the lease, paying the monthly lease payments thru the employee’s pretax income.

As the employee, you can own the car and have the right to take it when you change jobs. You can even get a great discounts for the package deals with a novated car lease.

• You have a variety of choices to choose from.
• You can pay the car with pretax dollars.
• You can buy the car at the end of the lease.
• You can lease the car 100% for private use.
• Your employer can allow you more than one car for a novated car lease.

• It is a hassle-free and cost-effective plus factor for an employee’s salary package.
• The responsibility of the car ends upon the termination of the contract.
• You are not liable for the management of the car.

New Car Buying Made Easy

Research is the best armor against car lease scammers, but there is another important facet that needs to be given attention to and that would be reading and understanding the car leasing contract. This will surely equip you against hidden charges and make you knowledgeable that car dealers won’t be able to manipulate you.

The most critical part of the car lease contract that you need to study and focus on is the “Federal Consumer Leasing Act Disclosures” part. This is the part that has all the pertinent information regarding your car lease agreement: how much is your sign-up fee, your monthly payment, the number of payments you need to make, how to calculate you car lease payments, what are the rules for early termination of the contract, and other pertinent facts. Since this is quite a new regulation, there are actual charges that are not regulated in the contract. Examples of which are the amount for trade-in, the actual price of the vehicle and sometimes the monthly payment is not even accurately calculated.

Try to understand the deal about the overall wear and tear of the leased car. You would have to make sure with the car dealer what is under the normal wear and tear for the car on lease. Normally, the mileage for a car would be 12,000 to 15,000 while there is a charge of 10 to 25 cents for every extra mile.

Although early termination is part of the “Federal Consumer Leasing Act Disclosures,” you need to focus more on the rules regarding this aspect of the car lease deal since there are usually high charges to be incurred in this aspect.

Make sure also that gap insurance is part of the car leasing company’s policy or best of all if it’s part of the car leasing contract. This will arm you against penalties or paying the early termination fee if in case you lost your car due to theft or if you had an accident. Try to check also on other insurance coverage and make sure that you get maximum insurance coverage. Most car lease contracts require maintenance of insurance coverage: $100,000 per person for injury or death, $300,000 per occurrence for property damages. On the other hand, $1,000,000 is required for coverage in liability in Canada. Most car lease contracts won’t show you the interest rate and also the acquisition fee. The acquisition fee is usually part of the vehicle’s price.

All these you need to consider since once again, research is the keyword before closing a car lease deal.

A lease is a binding contract that won’t be that easy to get out of, like marriage; and it would cost as much as divorce too.

When a car lessee returns a car before the contract ends, high fees pile up. These fees include the early termination fee and other penalties. An alternative path to take to do away with these stifling fees is to transfer the lease to a new lessee.

Of course, there are still fees that you need to pay for this transaction, but you can rest assured that it’s chicken feed compared to the surging ETFs and other penalties.

What You Can Build On

How can a prospective lessee be convinced that the transfer of lease is desirable and more convenient than a new one? Here are some basic points you can focus on to negotiate the matter:

• This lease allows the new prospect to get a late-model car without the large amount to pay for down payment.
• He/she doesn’t have to stay long on the lease; this arrangement is perfect for executives and graduating students.
• Try to bank on the idea of lifestyle change. From having regular passengers to driving alone long range; it might also be from having heavy cargo to just light travel.
• With a lease, he/she can drive a car that suits his taste every year or two.
• The lessee can buy the car at the end of the contract.Another point to remember is that even if you have a slightly higher fee to pay for every month, the car can be an enticing offer with less mileage or a hefty cash incentive.

Any Downsides?

There’s nothing much to worry on this aspect though most of the dealerships or financial institutions set a certain fee for each lease transfer; this fee is not that high.

What to Consider

A lot of questions to ponder on before the ink dries in the contract:

For the exiting lessee:

• Does this prospective lessee has good credit background?
• Does your lease company allow lease transfers?
• Are you responsible for anything after the lease transfer?

For the new lessee:

• Have you read and understood the lease, both the old and new?
• Is the warranty period of the vehicle longer than the lease period?
• Have you inspected the car you are about to lease? Remember that if not, you might be found liable for any damage done before the transfer.
• Do you know the previous lessee of the car?
• Are you sure you can’t find a newer car with the same price you are to pay for the lease?
• Is there any lease-end charge you need to pay?
• Have you read the history of the car you are about to lease? You might find a lovely made-up car from a horrendous car accident.

Source: https://www.edmunds.com

When it comes to a sleek look, comfort, and superior driving power, the brand-new Lamborghini Murcielago LP640 Roadster comes closer to perfection than any other car manufactured for the year 2008.

Retaining the standard features of functionality, sportiness, and purism of the Coupe, the Roadster has been given a more fierce look with the front and rear bumpers. However, there is something quite new with the Roadster’s rear: its tailpipe-integrated exhaust system. The car would be as visible as it is during daytime with the new rear lights that increase its distinguishing factors.

The Roadster’s body has an asymmetrical shape, giving it a more aerodynamic look. Its right air inlet is closed while the left is left open for ventilation of the oil cooler. The car’s wipers have been broadened and it has Hermera alloy wheels.

New display graphics are available for the instrument panel: a new 6.5-inch widescreen monitor Kenwood car radio and a reader for DVD, MP3, and WMA. Its navigation system is an option but standard for Japan units. It also comes with special equipment packages with an individualization program to personalized or individualized sports car.

Another mainstay for the Lamborghini Murciélago LP640 Roadster is the new 6.5 litre (6.496 cm3) 60° V-engine and 640 PS (471 kW) at 8,000 min-1. The Roadster is a 12-cylinder engine at 6,000 min-1 with a maximum torque of 661 Nm. This car adheres to valid European and North American emission standards.

The car has garnered a 6-gear transmission has been added to its requirements to address the higher demand as an offshoot of the higher torque and performance enhancements. Other additions would include the sturdier rear differentials and the half-rear axles.

E-gear transmission has been made an option too and was fully integrated with a new thrust mode. The electronics department has also received some revisions. With a closed loop control system, the control units became better in improved driving performance and the engine’s response characteristics. As for the control unit, the car has three master control units and one slave control unit.

So for those who run out of ideas on what car to use, never underestimate the power of Murciélago.