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Car Lease With No Money Down? No Down Payment? Zero Down Car Leases Unlike car loans, most car leases can be obtained with no money down — no down payment. Along with low monthly payments and lower sales tax cost, this often makes leasing a brand new car much more affordable than buying. Whether you need to make a down payment (cap cost reduction) may depend on your credit score (see explanation below). Shoppers for car leases … Read More

What is an off-lease car? Are they good deals? About previously leased vehicles When leased cars are returned to a lease company, the return is typically made to a new-car dealer, who handles the return for the lease company. The lease company is often the financial division of a major car manufacturer. Ford Motor Credit and Toyota Finance are examples. Generally, the lease company arranges for the vehicle to be transported from the dealer’s store … Read More

Car leasing in Ohio is a bit different than in most other states The way that the state of Ohio applies sales tax to car leases is based on the sum of lease payments. Most states only tax individual monthly payments (and down payment). For example, in Ohio, if lease payments are $300 a month and the lease term is 36 months, the total of all payment is 36 times $300 = $10,800. If the … Read More

Over Miles on Car Lease – What to Do If you are exceeding the mileage allowance on your car lease, you have options Many people who lease cars, find themselves exceeding their mileage limit — or maybe don’t discover it until lease-end when they return the car to the lease company. There are a number of options that can be taken if this situation occurs. First, let’s understand why leases have mileage limitations. Cars depreciate … Read More

Public Car Auctions for Cheap Cars Is it possible to get good deals at public car auctions? Yes. It is very possible to get good deals on used cars at public car auctions. But you have to know where to find them and how to participate. Types of public car auctions A great many car auctions allow only licensed car dealers to buy. However, other auctions are also open to the public and can be … Read More

Used Car Prices and What You Can Do About It As this is being written, the world of used car (and new car) buying has been turned upside down. Prices are at record high levels, increasing rapidly over only a relatively short time. So why the unprecedented rise in used car prices? The short answer, as you might expect, is, “It’s the worldwide COVID-19 pandemic.” While the answer is correct, it is more complicated. The end-result … Read More

Is it possible to lower payments by refinancing a car loan? Refinancing an auto loan can be a good way to reduce monthly payments. However, it often doesn’t bring the benefits that borrowers expect. Let’s take a look. How auto refinancing works A car refinance loan is no different than any other used-car loan. You determine the payoff balance on your old loan, arrange for a new loan, get a check from the bank or … Read More

How To Lease a Car Short-Term Car dealers don’t normally offer short-term leases on new cars. Nor do they lease used cars. They only offer new-car leases that typically start at 24 months. Leases for 36 and 39 months are the most common. If a shorter term, say a 1 year lease, is required, there’s another way to do it. We’ll tell you how and where. Why a Short Term Lease? There are many reasons someone might want … Read More

What is a Single Payment Lease and How Does it Work? Does a pre-paid car lease save money? Single-pay car leases (also called pre-paid leases) are often an option for people who want to lease and have the cash to completely pay off the entire lease amount up front. It eliminates monthly payments and might save money. Such leases are sometimes called one-pay, or simple-pay leases, depending on lease finance company. However, is it smart to … Read More

Cars have become much smarter and safer in just the last few years with safety features that are sure to save lives of drivers and passengers. Parents are especially appreciative of the these features that help protect their “precious cargo.” It’s important to note that automobile safety features fall into two categories: 1) those that help survive an accident, such as airbags, and 2) those that help prevent an accident, such as a collision avoidance … Read More

Is Car Leasing Stupid? Why Not Lease? Put another way, is it smart to lease a car? We frequently hear people saying that it is stupid to lease car — that it’s smart to avoid leasing. We’ve even heard some so-called financial “experts” say similar things. Problem is, the advice is based on misconceptions and lack of real understanding of leasing. Some of the reasons given for advising against leasing You return your car at … Read More

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

Why Car Lease Taxes are Bigger but not Better in Texas Lease a car in Houston, San Antonio, Austin, or Dallas, or any other city in Texas and pay full sales tax In most states, sales tax is paid on monthly lease payments, not full vehicle value. Not in Texas. Maybe the philosophy is that bigger is better. But that is not the case with leasing and taxes. Texas laws require that the lessor (the … Read More

Car Lease Taxes and Fees in Texas 1. **Motor Vehicle Sales and Use Tax**: When you lease a vehicle in Texas, the total amount that the lease is worth (the sum of all your lease payments over the lease term) is subject to the Motor Vehicle Sales and Use Tax. As of my last update, this tax rate is 6.25% of the vehicle’s sale price or the total amount of the lease payments, whichever is … Read More

What is the Secret to Cheap Car Insurance?  DISCOUNTS What types of discounts make for the lowest auto insurance rates? Most auto insurance companies offer a variety of discounts that can save you money on premiums. In fact, the difference between expensive and cheap car insurance can be the rate discounts that are offered. This is the secret to cheap car insurance. All discounts that a particular company might offer may not be available in all … Read More

How to Successfully Negotiate a Car Deal Many people absolutely hate the process of buying a car — because they feel they don’t know how to skillfully negotiate with experienced dealers sales people. The key to successful negotiating is doing the following five things that put you in control, not the sales person. 1. Know Your Numbers Whether you are buying a brand new car or a previously owned car, you should know prices before beginning your … Read More

How to Trade a Car When Buying or Leasing a New Car The process of trading a car is often misunderstood by inexperienced car buyers Some common questions we frequently hear are: How does trading a car work? Can I simply trade one car for another? How much will a dealer give me for my trade? Can I trade if I’m going to lease a new car? What if I still have a loan on … Read More

Can I trade my current car to lease a new car? Certainly. Trading a car works the same whether you buy or lease your next car. However, the effect of a trade on a lease deal is a bit different than with a purchase deal. Let’s see how. Trading has a more significant effect when leasing your next car As you probably know, when you trade a vehicle to a dealer, the value of that … Read More

Trade Leased Car – Smart Idea or Not? Is it possible to trade a lease car when buying or leasing a new car? If you are leasing a car and are considering buying or leasing another car, is it a good idea to trade the leased car before the old lease is finished – or is it better to wait until lease-end to trade – or neither? Trading a leased car is not quite the … Read More

Lease a Truck – Pros and Cons Should you lease your new truck — or buy? Why? Trucks are leased for both personal use and commercial (business) use. There are significant differences in how each type of lease works. One of the advantages of truck leasing is that trucks generally have high future resale values. This translates to higher lease-end residual values, which in turn translates to lower monthly lease payments. Personal truck leasing If … Read More

When you lease a car, you’re essentially renting it for a predetermined period, typically two to three years. Unlike buying a vehicle, leasing doesn’t involve long-term ownership, and this arrangement comes with unique considerations, including the need for GAP insurance. This article will delve into the intricacies of GAP insurance for leased cars, explaining what it is, why it’s important, how it works, and whether you should get it. ## What is GAP Insurance? GAP … Read More

Latest Technology: A brand new car comes equipped with the latest technology and safety features. Warranty: New cars come with a manufacturer’s warranty which covers most repairs and maintenance for a certain period of time. Reliability: New cars have a lower probability of breaking down and are generally more reliable than used cars. Customization: You can choose the color, options, and accessories you want on a new car. Leasing: Low monthly payments with leasing is … Read More