Things To Know About Leasing With Bad Credit

Usually, with bad credit, it is nearly impossible to lease out a car but there is hope! If you are approved for a lease with your low credit, here are a few things to prepare for.

Bad to fair credit gets you a lease that is more expensive than a driver who has good credit. You will find yourself paying a higher interest rate and possibly a security deposit if your credit is really bad.

When you are approved you might end up as a subprime lessee. Subprime loans are loans made at higher interest rates for borrowers with bad credit and don’t qualify for the ordinary loans and you might deal with unfavorable terms.

Typically companies don’t approve someone with bad credit, but companies like Kia Motors Finance have made an impact with approving those who don’t have that good to excellent credit. If you can get a lease, make sure to stay on top of it!

The best way to calculate how much you can afford is to put together a budget of all your other expenses, such as housing, food, and investments. Whatever is left after accounting for all non-car expenses will be the amount you can spend on leasing a car. Keep in mind to avoid too many miles to avoid the overage fees and avoid excessive wear and tears.

Did you know when leasing a car with low monthly payments, this gives you the chance to improve your credit! To find out which vehicles you could afford, contact Swapalease! Swapalease.com is the largest online lease transfer marketplace. The online marketplace has vehicles and customers in every state in the continental United States and Canada. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.

Millennials and Car Leasing

The rate at which millennials prefer leasing cars continues to increase. In 2016, 1/3 of millennials chose to lease a car over buying a car. Here are a few reasons leasing is becoming their go-to method:

Millennials have become accustomed to budgeting in order to pay for monthly payments such as credit cards or their cell phone bills. Lease payments are typically lower than the monthly loan payments for the same car if it was bought. These lower payments benefit their financial lifestyle and they don’t see it as overwhelming. Overall, leasing is less expensive for them.

These young buyers are more also flexible with the idea of owning a car. 25% to 39% of millennials will keep the car for five years or less so it makes sense to lease it. They also want to have cars with the latest tech and once a new car comes out with upgraded tech, they will move on to that one.

The benefit of owning (but really leasing) a new car at a low price point with the latest features is a win for millennials. But they should also keep in mind that any car payment, whether on a loan or a lease, needs to fit financially with their lifestyle so they can pay off their debt and save up for retirement.

If you’re one of these Millennials that is more interested in leasing a car than buying one, check out Swapalease.com where you have the ability to take over the remainder of somebody else’s lease anywhere across the United States. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.

Need To Know What Insurance You Need For A Leased Car?

As a reminder, coverage is mandatory on a leased car. When you lease a vehicle, it BELONGS to the leasing company. They want to make sure their investment is covered. You need to go out there and buy an auto-insurance policy. Leasing companies often require high liability insurance and some may require a lower deductible. Here are three coverages you should make sure you have (required to have) for your current or future leased car.

Collision Insurance

This insurance protects you if your leased car collides with another vehicle or object. It also protects you if your vehicle is overturned. You will most likely have a deductible.

Comprehensive Insurance

Like collision insurance, this also is subject to a deductible. Comprehensive coverage involves if your car got involved in a situation involving fire, theft, and weather damage.

Guaranteed Auto Protection (GAP)

GAP insurance is often seen as one of the most important coverages, but not all states have the option of getting it. GAP protects you if your leased vehicle is totaled or stolen.

As a result of a collision or comprehensive car insurance, repairs must be made by only using Original Equipment Manufacturer (OEM) parts.

After you’ve selected car accident insurance, and you expect to still be driving your car after the manufacturer’s warranty has expired, make sure you are also covered against expensive breakdowns and repairs that your auto insurance doesn’t cover.

If you need help finding the right car and the right insurance for it, help us help us help you! For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.

Why Auto-Insurance Premiums Go Up Year After Year

Ever wonder why your auto-insurance premium keeps going up year after year? Here are a few factors that are affecting your premium to increase and some of them aren’t even your wrong-doing.

Okay, this one is on you. As you know, if you have a low credit score and/or poor credit history, it typically placed you in the lower tier compared to excellent credit drivers and you can end up paying hundreds more than they ever will.

Another reason your premium goes up is simply the company itself and their cost of doing business. Insurance companies pay out billions of dollars in claims each year. With pay out increasing over generated premium, they need to collect the money they are missing out on from somewhere.

Even if your rates are going up, you tell yourself that you really like the insurance company and want to stay with them for as long as possible. Well, the longer you remain a customer, your premium increases based on the likelihood of you not shopping around for another policy with a different insurer. They think you won’t mind, which puts you in a place of price optimization.

One more reason your premium will continue increasing is because of how cars have evolved. Cars today are becoming more technologically and it is expensive to fix and receive the parts for those cars in particular. They take longer to repair and the body shop is going to make sure the time they are using will be paid for.

With auto-insurance premiums increasing, it makes sense for some buyers to switch to leasing opportunities. Swapalease.com is the largest online lease transfer marketplace. The online marketplace has vehicles and customers in every state in the continental United States and Canada. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.

What Happens When You End Your Car Lease Early

So you have come to the point where you can’t quite make your monthly payments and need to end your car lease early and fast. Getting out of a lease is always more difficult than if you owned your car. Here are a few things to expect when trying to get out of your lease.

Some leasing companies will charge you many fees for exiting early. Some of these fees are the early termination fee, costs to prepare the vehicle for sale, storage and transportation of your vehicle, and the taxes associated with leasing. It isn’t a fun process and can become quite the headache.

If you decided, let’s say, in a 36th-month lease that you want out by the 21st month, you will be required to pay the remaining months. Even though some leasing companies do not require it, be prepared to shell out the rest of the payments. Also be prepared to deal with the negative equity between your lease amount and the current value of your car.

You do have the option to buy and the sell your car as well if the payoff or buyout of your lease is less than the resale value but you still will encounter the early termination fee. If you decide to purchase a new car from the same dealership where you leased your current car, they may either waive certain penalties or at least reduce them. This can seem as hassle-free but all those fees will still creep up on you.

When you have run out of options, the only thing you can do is default on your lease. When you are that crunch where you can’t make those payments anymore, you would need to consider defaulting to get out. However, this option can take a critical hit on your credit. When your credit history is pulled up in the future, it will not look good on your part and you will have trouble buying.

Fortunately, you don’t have to be stuck in your lease. Swapalease.com is the largest online lease marketplace and they have what you’re looking for. Functioning as a sort of matchmaking service for cars, Swapalease.com helps individuals get more car at an affordable price. The online marketplace has vehicles and customers in every state in the continental United States and Canada. For more information on finding the best car lease deals or to learn how you can have a successful car lease exit, contact Swapalease.com at 866-SWAPNOW.

Best Two to Three-Row Cars of 2017 For A Big Family

With hundreds of family cars to choose from, it can be exhausting when figuring out which is right for your family. But if you are like many others who have a big family and need the extra room as well for storage on those family trips, look over the specs of these following cars that can be the perfect fit!

2017 Kia Sorento

Starting at $25,600, an MPG of 21 city/28 highway and seating for 5 to 7.

Total Cargo Volume: For 5 seater (L series) behind the second row for 38.8ft3 and behind first row 73.5ft3. For 7 seater (LX series) behind third row 11.3ft3, behind second row 38.0ft3 and behind first row 73.0ft3.

Total Interior Volume: 5 seater 146.4ft3 and 7 seater 154.2ft3

2017 Nissan Murano

Starting at $29,740, an MPG of 21 city/28 highway and seating for 5.

Total Cargo Volume: 31.1ft3 cargo space with all seats in place and 67ft3 cargo space with rear seats folded.

Total Interior Volume: 108.1ft3

2017 Acura MDX

Starting at $44,050, an MPG of 20 city/27 highway and seating for 7

Total Cargo Volume: There’s a 14.9ft3 of cargo space with all seats in place, 38.4ft3 cargo space with the third row down, and 68.4ft3 with both rear rows down.

Total Interior Volume: 132.3ft3

A good family car depends on what you and your family are specifically looking for. But keeping in mind the above factors will help you make a smart decision. For a great variety of vehicles at great prices, check out Swapalease.com. Swapalease.com is an online marketplace that allows drivers to list their current lease and helps match them with buyers looking to take over the remainder of that lease. Both parties get what they’re looking for all with the convenience of online shopping. Contact Swapalease.com at 866-SWAPNOW.

Avoid These Car Loan Mistakes

While car shopping, we want to make sure we find the best deal out there and make sure we can afford the financing we get on a car. However, many car buyers pay attention too much to the price tag and not enough on making sure they get a good deal for a car loan. Here are a few common car loan mistakes to avoid because it can be costing you more than you think.

•Being Rushed By The Salesman

When you go to a car dealership the first thing to happen is to get greeted by the salesperson. They will immediately ask what you are looking for and will rush you to pick a car and close a deal. They will also slip in some information about financing terms and sometimes, you can get nervous and say yes to anything and everything. Next thing you know, you signed up for a loan with interest rates you can’t put your head around and you are struggling to figure out how you can afford your car. Put your foot down and be willing to negotiate!

•Not Knowing your Credit Score

If you don’t know your credit score and the dealer makes a credit check, they can pretty much tell you anything. They can easily say your score is lower than it actually is and will start building out financial terms that are too expensive for you. Go in knowing your score and how it can benefit you and ask the right questions.

•Financing Longer Than 36 Months

It is best to try to pay off your car before the 36 months end. Research how much you can afford and how much you are willing to put in as a down payment and how much you are willing to pay monthly. It is a bad idea to have your car loan for longer than 36 months because your car will begin to depreciate and lose its value. A great suggestion is to wait and save up to get the car you want or if you can’t afford a car, simply downgrade and choose something cheaper.

Have you thought of trying Swapalease.com and drive a newer car every year or so? The online marketplace has vehicles and customers in every state in the continental United States and Canada. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, contact Swapalease.com at 866-SWAPNOW.

Ways To Win The Dealership Game

When going to the dealership to shop around for cars you know you will talk to a salesman and then eventually go inside to set-up the buying/leasing process. Beware however of the dealership game. They can pull a couple fast ones on you that you didn’t realize could happen. Here are 3 quick tips and tricks to keep in mind next time you are at the dealership.

• Hold On To Your Driver’s License

It may not seem like a big deal if you don’t go car shopping often, but to those who have made purchases in the past, they ask for your driver’s license so they can go make a copy. What they are actually doing is making a copy and running a credit check. They can find out things about you that you don’t want them to know. To prevent this, make your own copy of your driver’s license and write “Permission is NOT authorized to run a credit check” next to the image.

• Dealer-Add Ons

When you are looking around for a car, you can happen to come across the “supplemental sticker”. These are features that can be added on to the car, but at an overpriced cost. You can have the majority of the features, such as splash guards, window-tinting, and interior protection for half the price from other companies. Save your money and go for the car that you can easily add on the features yourself for a better price.

• Read Before You Sign

Once you are just about done with the process of getting your car, look into the “Dealer Prep” fees. They can overcharge you for little things such as the arrival of your car and have it taken off the truck for you to take home and removing the plastic covers from the interior. This can ring up to almost $600! Try negotiating the fee to bring it down to a reasonable amount or threaten to break the deal if the fee isn’t removed.

Buying or leasing a car is a big decision and should not be done without the proper amount of research and not being ripped-off. Luckily, Swapalease.com. makes your car shopping process hassle-free and they don’t play games with you. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact us at 866-SWAPNOW.

Ways You Are Prematurely Aging You Car

A car is a long-term investment and is meant to last you for a long time. However, did you know some of your everyday habits with your car can cause it to start aging sooner than later? Here are the four ways you are prematurely aging your car.

• Riding The Brake/Clutch

We get it, traffic is moving slow and you become part of the flickering brake lights team, inching your way forward. Riding your brakes, however, is a bad idea. When you press down the brake pedal, fluid is sent to the caliper and it pushes the brake pads to provide pressure on the brake rotors. This gives friction to slow down and stop your car. When you ride on your brakes, it can cause too much heat to generate and this can cause the brake fluid to boil. Evidently, your brakes will fail.

• Poor Tire Maintenance

When we have somewhere to be we tend to drive faster, which results in braking faster. Driving too fast causes you to abruptly brake and that wears out your tires faster over time. Also driving on poorly inflated tires wears down your tire treads and when you start driving the tread towards the outside of the tires, it can cause your tires to blowout. Be sure to drive safe speeds and keep your tires fully inflated.

• Idling Your Car

To idle your car is to have your engine running without moving the car at all. A popular myth is “warming up” your car in the cold. Though this was logical from cars in the 1980s and early 1990’s since cars were built with carburetors, today is unnecessary. Idling your car for just at least 10 seconds wastes more fuel than restarting the car. It also strips oils from critical components that help run the engine.

• Unprotected Dashboard

You see most drivers who use those big sun shades behind their windshield. Even though it does keep your car from getting too hot inside, it is a great way to prevent the sun rays from damaging your dashboard. Over time, excessive exposure to the sun to your dashboard can cause it to crack and fade.

Now that you know what not to do, visit Swapalease.com is the largest online lease transfer marketplace. The online marketplace has vehicles and customers in every state in the continental United States and Canada. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.

Electric Cars of 2017 To Keep An Eye Out For

Electric cars have been becoming one of the most practical options when it comes to buying a car. With favorable advancements such as not needing to recharge after just small journeys and increase in charging stations across the country, it makes sense to purchase a car that eliminates the cost of fuel and is tax free. Think it’s time to get an electric car? Here are a few hot options for you and their specs!

* 2017 Ford Focus Electric

Range: 100 mi battery-only MSRP: From $29,120 MPGe: 118 city / 96 highway Battery: 33.5 kWh lithium-ion Cargo volume: 56.6 ft³

* 2017 Chevrolet Bolt EV

Range: 238 mi battery-only MSRP: From $36,620 MPGe: 128 city / 110 highway Battery: 60 kWh lithium-ion Cargo volume: 16.9 ft³

* 2017 Fiat 500e

Range: 87 mi battery-only MSRP: From $31,800 MPGe: 121 city / 103 highway Battery: 24 kWh 364 V lithium-ion Cargo volume: 7 ft³

* 2017 BMW i3

Range: 114 mi battery-only MSRP: From $42,400 MPGe: 137 city / 111 highway Battery: 33 kWh high-volt lithium-ion Cargo volume: 15.1 ft³

Like what you see? If you are looking for a “greener” car, take a look at the selection on Swapalease.com. Swapalease.com has been helping people who want to switch up their ride for more than 15 years. Headquartered in Cincinnati Ohio, Swapalease.com is an online marketplace that allows drivers to list their current lease and helps match them with buyers looking to take over the remainder of that lease. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.