Car Lease Blog - Archive for February, 2012

If you have bad credit, then you should remember that you are not the only one. Even in the midst of a recovering economy, there are still a lot of people who suffer from a low or bad credit score.

This is crucial if you are planning to lease a car. It does not matter if you want to lease or buy your new vehicle: if you have bad credit, then you must remember these 3 important tips to help you determine a good deal from a bad one. Bad credit car leasing is not easy, but with a little common sense, you can drive home your new car in no time.

The 3 Most Important Bad Credit Car Leasing Tips:

1. It Helps to Have a Plan.

Planning ahead is essential if you really want to get a cheap car lease. If your FICO score is in the 600 to 500 zone, it is best that you plan your car lease ahead of time.

Discipline will play a big part in the process. First, resist the urge to spend spend more than what you are earning each month. Since you have bad credit, you should do something about your spending habits. Start at lease 6 months prior to your new car lease. Lenders and leasing companies will notice the change in your spending habits once you start paying debt. Believe us, even a slight change in your credit score will help you to get lower APR rates on your car lease.

Next, you should at least try to save money in the bank, no matter how small it is. In order to fully recover from your current credit standing, you should begin saving in a separate checking account. Your bank statement and your new credit score will be checked by the leasing company. If they like what they see, then say hello to an affordable car lease!

To sum it all up, you should plan your life again in order to regain a solid credit standing. It may sound tough at first, but the fruits of your labor will be sweeter once you begin to rebuild your life back.

2. Knowledge = Power

We are not going to lie, but to the uninitiated, leasing may sound complicated. However, you don’t need to have a degree in economics to fully understand the basics of leasing a vehicle.

Leasing has 3 parts:

• Resale value of the car
• Selling price of the car
• APR rate

If you follow tip #1 above, then that will solve the APR rate. The resale value of the car will depend on the car that you want to lease. The selling price can be negotiated. A word of caution: some dealers will tell you that the MSRP of the car is non negotiable. If that is the case, turn around and walk away.

Conduct some minor research online to find out which car has the highest resale value. The difference in the monthly lease price may not be consequential, but you will get more savings if you lease a car with a high resale value.

3. Bring Your Weapon.

The best weapon that you can bring to the car dealership is an online lease quote. This will prevent the dealer from overcharging your car lease rates. Your free lease quote will help you choose which type of car to lease, along with the power to compare lease prices without going to the dealership.

Make bad credit car leasing easy and hassle free with your very own online lease quote. You will instantly find the top lease deals for the money, including a list of dealers that give the lowest lease prices.

The 2011 Manheim Used Car Market Report announced that new car leasing accounted for 20% of overall vehicle sales for 2011, which is 1% better than 2010.

Due to the effects of the economic recession, more Americans are convinced that vehicle leasing is an ideal alternative to car buying. One of the factors is the lower cost of ownership.

However, the success of vehicle leasing in 2011 can also be attributed to car leasing companies and car dealers that offered fantastic leasing deals, along with a conservative approach in projecting the residual value of cars for lease. You should remember that car leasing involves the purchase price and the residual value of the car. If the car has a higher projected residual value, chances are it will be cheaper to lease compared to other cars with a lower lease-end value.

New car fleet purchases were also higher the past year, compared to figures posted during 2009 and 2010. The automotive industry saw a 22% rise in fleet purchases during the past year, and is expected to improve in 2012.

The 4 Steps to Hassle Free Car Leasing

Step 1: Request a free lease quote.

The first step is to request a free online lease quote. We can provide you with top car lease deals in your zip code, including limited offer lease specials. It is a common fact that most lease deals are unannounced, while some are only available for a limited time.

Getting a free lease quote will help you find the latest leasing offers, thereby offering you a chance to compare various lease prices right from the comforts of home.

Requesting a free lease quote will make it easier for you to find the best car lease for the money.

Step 2: Compare prices and choose.

After getting a free lease quote, you will now see that it is easy to figure out the lease deal that offers great value for money. If you are short on cash, why not choose available $0 down lease offers, where you can lease a new car without paying a large chunk of cash upfront.

Step 3: Talk to the dealer and negotiate the price.

It is important that you talk to the dealer and try to negotiate the selling price. Keep in mind that the price of the lease will also depend on the final selling price of the car. The lower the price, the cheaper to lease.

Step 4: Review the lease contract.

Read and analyze the lease contract. Check the mileage restrictions, and make sure that the dealer is charging you the right amount. Read and understand the lease contract before signing.

The holiday spirit continues until 2012! Celebrate Valentines Day with a new Chevrolet lease.

Chevrolet cars were instrumental in the sales success of General Motors for 2011. So successful, in fact, that General Motors regained the throne as the #1 automaker in the world, surpassing Japanese car giant Toyota. It should be remembered that it has been 3 years since Toyota snatched the crown from GM as the bestselling automaker, delivering ultra reliable cars and compact family vehicles at low price.

Chevrolet (along with Ford and Chrysler) got back to the drawing board, and pondered about their next move. The plan was simple: get rid of the stigma associated with American cars and come up with new products that benefit from extensive research and technology.

The result is global dominance. Chevrolet managed to sell 4.6 million vehicles worldwide in 2011. This ,in turn, pushed total GM sales to more than 9 million vehicles sold worldwide, which is an impressive 7.6% growth compared to 2010. Chevrolet sold more than 1.7 million vehicles in the USA alone.

It is time to put your trust back in an old American brand. Chevrolet also belongs to the top cars to lease in 2012, as there new models fared well in terms of reliability and build quality. If you are familiar with the many facets of leasing, then you should know very well that a car with a good resale value will be less costly to lease.

Chevrolet Lease Deals 2012

1. 2012 Chevrolet Cruze – lease deals start at around $170/month.

2. 2012 Chevrolet Volt – lease deals start at $350/month.

3. 2012 Chevrolet Malibu – lease deals start at around $180/month.

4. 2012 Chevrolet Silverado – lease deals start at around $290/month for the Silverado 1500 with 4WD.

5. 2012 Chevrolet Tahoe – lease deals start at around $460/month for the Tahoe 2WD.

6. 2012 Chevrolet Traverse – lease deals start at around $299/month.

Lease deals will vary according to your zip code. Chevrolet dealers will present different lease prices depending on vehicle trim. Get everything that you need to know about the latest Chevrolet lease deals in your zip code, including hidden lease offers to help you save more money! Request a free lease quote today.

Leasing is one of the most affordable and easiest ways to take home a new car.

While leasing is not preferred by everyone, it is hard to deny the advantages of leasing versus buying a new car. For starters, there is no need to spend a large chunk of cash for a down payment. Buying a car is more expensive because you have to pay for the entire selling price, including options and taxes.

Leasing, on the other hand, will require you only pay for the ‘use’ of the car alone, specifically the depreciation of the vehicle over the lease term.

Leasing does have disadvantages. Here are the 3 things you should consider so you can easily figure out if car leasing is the best option for you.

1. Mileage restrictions.

Leasing comes with mileage restrictions, although the actual mileage will vary depending on the car and the leasing company.

If you are a high-mileage driver, or frequently travel a considerable amount of distance on a daily basis then you might end up paying mileage charges after the lease expires. The applicable mileage charges will be charged on a ‘per mile’ basis, with an average of 18 to 20 cents per mile. For example, if you travel an average of 17,000 miles per year with a lease term that only prescribes 12,000 miles per year then you will pay for the excess of 5,000 miles.

If the ‘excess mileage charge’ is 18 cents per mile, then you are expected to shell out $900 per year, or an additional $2,700 on a 36 month lease.

2. Additional charges for wear and tear.

The term ‘wear and tear’ may count for dings, dents, paint chips, interior damage, and even carpet stains on the car. You will need to take car of the car as if it were your own. Car dealers will charge you a significant amount of money if you return the car in an unsatisfactory condition.

3. You have no equity over the car.

Since you are only paying for the depreciation of the car and not the selling price, and since you are required to return the car to the dealer after 24 or 36 months, you have no equity or ‘ownership’ over the car.

This is not entirely a bad thing at all. Since you retain no ownership over the car, this also means that you need not bother about selling or trading the car. Simply bring the car back to the dealer and choose your next car lease.

Leasing is now a popular option among car buyers. With lower monthly payments and low interest rates (money factor) compared to buying or financing, leasing is the right choice if you want to drive a new car without hurting your budget.