Leasing a Car
Thing No. 6
Lease us not into temptation.
Decide what car you want before you start exploring leases. Lease the same car that you planned to (or were considering buying) for 40 percent less per month and resist the temptation to lease a nicer car for the same monthly cost.
Thing No. 7
Get the rebate.
Just because you’re leasing does not mean you’re not entitled to it but they like to conveniently forget. The rebate should come right off the cap cost.
Thing No. 8
It’s a myth that you can’t break a lease.
But, it is usually a rough deal. If you’re in the first 2 years of the lease, you’re probably too far upside down. However, let’s say for example, that you have a different job and it’s requiring you to drive much further than you had intended when you leased the car, not to mention gas prices and everything else; it is possible (albeit mildly) that you might actually be cutting your losses by terminating the lease. You never know, check the current value of the car and all the potential related costs of keeping it or terminating it including the possibility of doing a lease swap, leasetrade.com or swaplease.com.
Thing No. 9
You do want the “gap insurance.
If the car is stolen or totaled in a fiery crash, your regular insurance policy will only cover the current value of the car not what you owe on it (which will be more.) Gap insurance covers the difference. We would think that you’d know better than to buy this from the dealer by now, but we’ll tell ya’ anyway. Buy it online @ gapinsurancequotes.com.
Now here’s what most people won’t tell you when they regale you with their knowledge of car shopping: there are more ways to get screwed on a car lease than a Las Vegas brothel. Luxury carmakers in particular hide their deepest discounts in leases which means you can get a great deal if you really know what you’re doing. But more often than not, navigating these deals is like looking for a terrorist in a cave somewhere on the Pakistan and Afghanistan border. Forget about the fact that all the “sophisticated” people seem to always lease. If you have a deep, haunting feeling that you don’t know what the hell you’re talking about with all these different factors, you’re probably going to get taken. Badly. If the next 3 years of your life are uncertain, not a good indicator that you’re a great candidate for leasing. If you sense that you don’t have the stomach to weather a very dicey negotiation process, you’re probably not cut out for it.
