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Can I Return A Leased Car

Leasing a car has become one of the easiest ways to get a car. You still have to hassle with the dealer a bit, but you don’t have to put any money down, which is a major advantage. Car dealers agree do lease great cars for low prices if you know the right places to look for them. Let’s assume that you’ve got your car, you’re happy about the deal you’ve just made and get to drive home in a cool car. Time passes and you’re faced with the ending of the lease contract and you have to take the car back. These are a few steps that explain how the entire process should go.

Before your vehicle lease ends, you will probably get a letter from the leasing company which announces you that the leasing contract is almost over and you have to return the car. It will also contain a set of instructions for you to follow in order to return the car. In case you get stuck at some point, you can always get in touch with the leasing company for supplementary instructions related to the car returning process. Before you turn in your lease, you have to make sure that all damage sustained by the car has been repaired in order to avoid possible penalties or extra payments. Sign all the paperwork and wait for a notification from a bank or credit company regarding any payments required for possible damage and wear and tear, or other contract violations.

Ok so the first thing you need to do is check in with the leasing company for a couple of instructions and a location where you should drop the car. You will have to present them your Social security number or an account number so that the representative can access your account. Since leasing contracts usually cover a wider area, not only local, you probably will be able to drop off the car at any representative dealer belonging to the same company.

Return A Leased Car

You have to examine the car thoroughly, look carefully for any possible wear and tear because, what you consider as “normal use” might be different than what the dealer might see, therefore you might end up paying steep penalties for damaging the car condition over a certain limit. Although little scratches or a dirty carpet may not attract any kind of fees, dents, broken knobs of any kind, stains or other visible damage will result in fees after they’re done analyzing it.

Make sure that the vehicle is completely clean, and in case of extensive damage you can either contact the insurance company, or you can pay for the repairs yourself. Have a good look around not to leave any possessions in the car and try to make it look as close to new as possible.

Step number three is calling the representative car dealer where you’re dropping off the car, to see if an appointment is required for a lease return. Make sure not to be late, since they put great price on punctuality. Know that most dealers don’t like the idea of  Saturday drops off. Another reason why you should call ahead is the fact that if you arrive when he’s really busy, you might end up waiting for hours. Don’t forget any items that came with the car such as keys, key fobs or the owner’s manual.

And finally, take care of all the necessary paperwork. The representative will take the vehicle’s information, and if there are no problems with the car, you can either head home or head for another car.

Can I Lease A Car With Bad Credit

Nowadays, when people struggle with financial issues, many of us start thinking if we can lease a car with bad credit. Generally, leasing a car with bad credit means that the one asking to lease a car has a credit-history that’s not as convincing, a low credit score or a debt-to-income ratio pretty high. Therefore, the dealer will consider such a person to be a high-risk client and he will think twice before offering that particular client a good deal on a new car.

If you find yourself in such a situation you should first of all ask for a copy of your credit report and credit score and look carefully at the FICO and Fair Isaac score, because those mostly influence your chances to receive a lease for a new car. Once you have an idea of the content of your credit history you will be able to ask some of the credit reporting agencies to help you improve your credit score by removing those items that aren’t factual. As a result, things will start to look up for you.

The next step involves locating a larger car dealership. These dealers lease a large number of cars a day, and due to this sale volume they will be able to offer people with bad credit a good deal as well. Actually, some of the car manufacturer’s offer special programs for people who want to lease a car with bad credit. An example would be the Red Carpet Leasing program, enforced by Ford that has received a lot of positive responses from people with bad credit.

Can I Lease A Car With Bad Credit

Once you’ve entered such a dealership you should be honest, discuss with the finance director of the dealership and let him know about your credit score. You should not let the company check your credit until you succeed in striking a deal, because you should try to get your credit score raised and your negative credit history less taken into consideration. Just showing the finance director your credit score should be enough for him to tell you if he can offer you a deal.

If the answer is no during the first try, don’t get discouraged. Just go ask the next dealership, because due to your bad credit you may have to visit more than one car dealership. That’s normal, and if you want to lease a car with bad credit you should have patience and be persuasive.

Once you’ve located that dealer willing to offer you a lease you should have on you some money in cash, because due to your bad credit the dealer might ask you to pay more down payment than a good credit person would be required to pay in order to obtain the lease. Usually, having those money cash is a good argument that will convince the dealer to go on with the procedure of leasing you one of their cars.

Also, keep in mind that American car companies like Ford, General Motors or Chrysler are less inclined to offer leasing deals for customers with bad credit than some foreign car makers like Toyota, Mazda or Nissan. So, choose the type of car you want to lease according to these criteria as well. In fact, the lower price of these cars and the fact we are talking about reliable cars turns these choices into great lease deals.

So, the answer to the question: “Can I lease a car with bad credit?” is yes. Your options may be a little limited and the searching process may take longer than usual but there’s no reason for not being successful.

 

Buy VS. Lease A Car

Acquiring a car is one of the most difficult decisions you usually make in a lifetime. Since you don’t change cars any other day, the method of getting one has to be carefully picked, calculated and integrated in the budget. Because of the decreasing economy, the average Joe can’t just come up with $20000 just like that to buy a new car with money down. That’s why car dealers have developed all types of incentives and techniques for the client to pick. You as a customer have the possibility to lease a car or to either buy it outright or get a car loan. The huge dilemma is which one to pick, what would it be better, leasing or buying?

The conundrum is that there is no direct answer to this question since this particular situation has to be analyzed separately by each individual.

Keep in mind that leasing and getting a loan for car purchase are too completely different things. With one you finance for your USE of the car and the other enables you to purchase it and make you OWNER. Each technique has it’s own advantages and disadvantages.

Buying or leasing a car

When you’re faced with this decision, you not only have to analyze financial priorities, but you also should take your priorities into consideration. Think of what’s most important to you. Would you be more satisfied with having a brand new vehicle to drive around without having to face major repairs during this time, or you’d rather purchase one and set for a long term loan? Or would you rather be an owner and face the higher up front costs or you’d rather go for lower up front costs and no down payment despite missing ownership? You need to think about these questions in order to make a decision that will suit you.

When you’re buying, you’re faced with the payment for the entire vehicle’s value regardless of how much mileage you acquire driving it. Usually you have to pay a down payment, take care of sales taxes by either paying them up front or include them in your loan and pay the monthly fees calculated by the loan company. Keep in mind that credit history counts when getting a loan. A good clean credit history will get you the best deals around. The advantage here is that you have ownership over the vehicle so if you feel like it you may sell it, naturally for its depreciated value.

Leasing is a bit different because there you’re only paying for a part of the vehicle’s value. They evaluate this part according to the period of time you want to use the car. During that time, the car will naturally depreciate since its being used. That depreciation is estimated and for that, you will be paying each month, plus a little extra that is the company’s interest called money factor. When the leasing ends, you simply have to go and return the vehicle, or you have the option of purchasing it for its depreciated value.

Because leasing is a bit more complicated that simply getting a loan, you need to think all things through and take all things in consideration. You have to face money factors, residuals and other fees. Because of these complicated factors, you can easily make mistakes or misunderstand some of the many clauses in the contract. You also have to be careful about the number of miles you receive at the contract signing. Each year you get a limited number of miles usually 10000. Therefore be very careful since each extra mile costs.

21 Day Car Lease

21 days car lease is about the most useful of all short term car leases. In European countries it’s very practical to rent a car for 21 or 30 days because many like to attend road trips and holidays in the beautiful countries of Europe. Arranging a short term lease for a new car in Europe can be more profitable than a rental for longer periods, that are over three weeks, plus you’re better insured as well.

One time in a trip I was stopped by a policeman just outside Trieste and while I handed my papers for verification, I knew that some explaining were required. The carabineer was a part of a roadblock organized against smuggling somewhere near Italian-Slovenian border. He became really confused when he looked through the papers (the car title was French) the ownership papers came from Milan and my driver’s license had Pennsylvania on it. You can realize how fumbled was the policeman. I explained that it’s a short term car lease, than he looked at me funny. Than I was ordered to step out of the vehicle and present its contents and the trunk to the officer. Since I didn’t have thousands of Slovenian cigarettes, I was swiftly on my way. That was the ONLY trouble I’ve ever had when getting a short term car lease in Europe.

21 days car lease

The advantages of a short term car lease, or as it’s known in Europe: buy-back or purchase-repurchase, are in hundreds. Leasing offers are filled with all kinds of offers and beneficial packets that no other rental company offers. First of all leasing costs a lot less, enabling you to pay somewhere between 18 to 70% of the sum you’d pay in any rental contract. Another great perk is the fact that you get unlimited mileage on the leasing period. Roadside assistance is present with you everywhere you’d go. They put at your disposal only factory, brand new cars for you to pick. All the rates are guaranteed in US dollars thus insuring you that no surprises will occur like it usually happens when different currency is used.

There is no VAT or local taxes to worry about when you have to return the car. These are the taxes that usually materialize out of thin air when getting a rental car. The absence of airport surcharges and the “extra driver” fees are great when you have to travel from place to place. The minimum age for leasing a car has dropped from 25 to 18 compared to renting, which makes it a lot more accessible to anyone that can prove they can support a lease. And finally you receive FREE insurance that comes with complete coverage. No other rental company will fully cover the car you pick, no matter whether you take it for 3 weeks or 1 day, and all these comes with absolutely no deductibles.

The full insurance and no deductable feats are the best. Once I had to return a rental car that had a tiny scratch on the door. I don’t even know how it happened since in the morning I woke up and it was there. Of course the rental company didn’t care and they charged me the entire $300 deductible to fix 5 centimeters of scratched surface.

On the other hand, when I leased a car through Auto Europe, and I had to take it back with the entire back window windshield missing (like Murphy’s Laws dictate, it got broke exactly 1 night before my end of lease ). All I did was apologized and they let me walk away

 

Car Lease Italy

 

If you are considering a trip in Italy or even somewhere else in Europe you should take into consideration a car lease instead of a car rental. That’s because of the buy back lease program offered by Citroen. So, if you plan in driving across Italy for more than 17 days you should consider this lease program, because you will benefit from some significant advantages.

 

Some of these advantages would be the excellent insurance coverage, the fact there aren’t any hidden or extra charges, you are able to pick up and drop off the car at different locations, for your money you will get a brand new car and the cost involved is lower than the one supposed by an average car rental. There are only a few disadvantages that I would like to mention: the load of paperwork necessary is bigger, you can pick-up or drop the car only at the Milan or Rome airport and that will involve an extra charge.

Car Lease Italy

Car Lease Italy

Citroen’s offer (the buy back car lease program) helps you lease a car in Italy and is available only for people that are tourists in Italy for a longer period of time than 3 weeks. The price paid also includes complete insurance, so you don’t have to worry about accidents or other unpredictable events. The only extra charge you will have to pay is related to the pick-up place that if it is outside France will include an extra fee. If you decide to take advantage of this opportunity you will be able to choose the exact model you want. Moreover, the prices are in Canadian Dollars and once you paid for a car lease in Italy through this program you will benefit from the possibility to call 24 hours a day to a toll-free assistance number, no matter your location in Europe.

 

What you should know about this program is that if you choose to lease a car in Italy like this you should arrange the lease and pay for it 30 days before the date when you are supposed to pick up the car. After you take care of all the paperwork and all the bills you will get a voucher stamped paid, some directions that will help you find the location where you are suppose to pick up the car from, a toll-free number available for assistance 24 hours a day and a storage case for your papers. Considering that the prices are given in Canadian dollars, you might be charged with a foreign exchange fee.

 

There are also other car manufacturers like Peugeot that offer the buy back car lease program as well. In this case you get a brand new Peugeot, the model you desire, excellent insurance coverage, no restriction when it comes to mileage, to multiple drivers and no hidden charges. In addition, the drop off is free of charge as long as it takes place in France, a fee being charged for a drop-off location situated somewhere else in Europe.

 

You can also use some online solutions in order to get more information about prices paid for car leases in Italy such as carrentals.com or easycar.com, that offer information about worldwide opportunities. AutoEurope.com is another website that can prove useful, because it provides information about short and long-term car leasing. After you chose the company and the car you are going to lease you should find the time to visit the local AAA in order to get your international driver’s permit, because you are going to need one. Also look into fuel cost in Italy. Enjoy your journey!

 

Bad Idea To Lease A Car

 

Nowadays car leasing is a heavily used technique that most car dealers favor. It’s understandable why it’s so attractive to the average citizen. You have to deal with a little cash at the beginning and a low payment program that stretches throughout the 24 or 36 months of leasing. If you’re the kind of person that favors car changing every 2 or 3 years than the leasing systems seems your best bet. Or is it?

 

 

 

Think about it. First of all consider that you owe something, yet you do not own anything. One of the main problems in car leasing is that you cannot claim that the car you’re driving it’s yours despite the fact that you’re paying for it, therefore getting zero equity. Despite the fact that the lease is at all times secured by the very car that you’re using, you have no collateral in case of a required back up. Consider that the dealer holds both ends of the rope: ownership of the car and your leasing contract.

 

You may call this a lease as much as you want, yet if you look on your credit report you will see that it appears as a payment established with a monthly fee, which seems to be peculiarly similar to the usual loan, but worse since in a loan at least you can call the car yours.

 

Another downside to it is the limited future options. Leasing a car will be seen more like a loan compared to a house or apartment leasing. This means that you’re up for the entire lease balance at any given point during its term. Usually leasing companies will let you terminate the lease earlier than scheduled but this usually comes at a high price in penalties and other fees.

 

Bad Idea To Lease A Car

 

If you’ve entered a lease than you better stick with it to the end because there is practically no way out without having to deal with a truck load of fees and penalties that are meant to actually make you keep your end of the bargain until the lease expires. Considering how fast life is changing all around us, it is so smart to enter head first in a leasing contract that offers so little room for change?

 

Another problem with leasing is the multitude of restrictions that are given in subjective parameters which makes it even worse. For example, you’re given a limited number of miles each year. Crossing that boundary may cost you very much since each extra mile can be taxed for up to 15 cents. Normal Wear and Tear is accepted, but what exactly does “normal” mean? If you see a little damage to the upholstery, that might mean normal to you, but almost every time, the dealer is going to perceive “normal” differently. And since the dealers lawyer prepares the lease (you can never bring your own lawyer) there’s nothing you can do about it.

 

When entering a lease, usually people base their mileage estimation on their driving history. Few take into account the fact that the daily pattern may change at a given time and they will be forced to drive from 30 miles per day to 100 miles. What then? If you found yourself in a situation like this, than you better have deep pockets because you’ll be paying a lot of extra miles. Because of this, you can never calculate with precision the total cost of the lease because, there are variables that aren’t controlled by you at all times, therefore you’re forced to take a no so calculated risk anymore.

 

Best Month To Lease A Car

First of all you need to know that some people say that buying a car makes more financial sense than leasing one. This is indeed true but only if you plan on keeping the car after you have finished with all the payments. Leasing is the perfect method for drivers that want to have a new car as often as possible. In addition, if the car that you have now needs to be replaced, but the one that you want is not available yet, leasing a car can be a solid way for staying on the road while you wait for the one that you want.

First of all you need to know that the manufacturers have a pretty big amount of control over the leasing factors as the best leases are in most cases handled through the car maker’s financing company. In addition, the willingness of the dealer to negotiate plays also a determinant role in the affordability of a new lease.

The best month to lease a car is in December, even November in some cases as the end-of-the-year sales are a result of many factors. The most important one would have to be that the dealers are trying to achieve their year-end volume and sales target – the same situation with the automakers. Due to the reason that both sides want to hit their pre-established targets, both of them will make better deals than they usually do.

You need to have a look at the schedule of the regional auto shows and during those months, the likelihood of getting a better deal is higher. In addition, every manufacturer chooses sometimes to support the lease. By “support” it means that the buyer will get factory-sponsored lease incentives. In such cases, the automakers give below-market lease rates or high residual rates and in some situations, they sometimes they give “dealer cash” which means that the dealer will have more room for negotiations. Usually, car makers do this for two reasons: one, to get rid of a particular model year and two, to win sales volume awards.

Depending on what car you want to get and if you don’t want to wait anymore, February might be the best month to lease a car as there are a couple of very interesting offers from various manufacturers and automotive segments. Here are a couple of relevant examples:

First of all, if you are looking for an SUV, the 2011 Nissan Murano is available for $349 per month for 39 months but you will have to pay $2,499 when signing the deal. The offer is available for the Murano S AWD with Splash Guards and Mats. It expires at the end of this month.

The new Jetta is out and you can get a pretty good lease deal: $179 per month for 36 months and with $1,999 due at signing. The offer is available for all the models, except the TDI ones and it expires at the end of February.

The 2011 Cadillac CTS can be yours for $349 per month for 39 months with $1,949 due at signing. The offer is available until the end of this month and only for the coupe models.

Another interesting offer for an SUV would be for the 2011 Buick Enclave. Here is the lease deal: $443 per month for 39 months and you don’t have to pay anything when signing the deal. The offer is applicable for the FWD CX models. The deal is available until the end of this month.

If you are looking for a reliable Japanese car, the 2011 Mazda3 can be yours if you are willing to pay $199 per month for 42 months. You don’t have to pay anything when you sign the contract, but be aware of the fact that the deal is available for the i Sport models that are fitted with an automatic transmission. The deal is available until the end of this month.

One last deal would have to be for the 2011 Infiniti G, available from $369 per month for 39 months with a $2,499 down payment. Available until February 28th, the offer is applicable for the G37 Coupe Journey with the Premium Package.

If you are not interested in none of this offers, you need to know that at the end of every month, most of the automakers will provide better deals as they will give volume incentives to the dealers who will sell the cars at a lower price in order to hit their volume goal.