Buying A Car As A Recent College Graduate

After college, the world is officially yours. It’s time to create an independent life for yourself and it usually starts off with getting a car to call yours. But of the thousands of cars and options out there, and the thought of “what can I afford?”.

New or Used Car?

When shopping for a car, the majority of graduates can’t wait to see the latest and greatest for the year. Sometimes they run into the case of seeing the greatest but it happens to be an older model or a used model. Newer cars have the upgrades and technology these grads are interested in, but so do used or older models. Also, test driving a new model versus and older or used model can end up surprising the grad in how similar the ride is. A used car also does tend to cost less and depreciates less over time.

Leasing or Buying?

So you have figured out whether to purchase a new or used car. The next step is to either lease it or buy it. Off the bat, leasing a car only works for new cars only unless you can find a specialty dealership which allows leasing of a used car. When you lease a car, you only pay for the value of the car in the time frame you will have it, not the total value. There are also security deposits and fees that you wouldn’t see so much if buying a car. Leasing, however, does give you the option of driving a new car every few years.

Then you have the option of buying a car, not leasing. When you buy a car, you pay for the entire value of the car with other fees and you can either pay it cash or finance it with an auto loan. You will find those monthly loan payments are always higher in a car you bought than in a leased car. Buying a car means you plan on having this car for a while, over 5 years give or take.

Budgeting For Your Car

So you have chosen your new or used car and chose to either lease it or buy it, now it’s time to think of your budget and which car would be more suitable for your monthly payments. Here are a few things to consider into your car budget:

  • Loan Payments
  •  Insurance
  • Gas
  • Maintenance and Repairs

Buying a car can be stressful and time-consuming. Luckily, Swapalease.com here to make it easier. It is the largest online lease transfer marketplace. 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.

The Negative Side Of A Large Down Payment

Why buy a car when leasing one is so much more convenient – and affordable? A recent article in a leading New Jersey media outlet, NJ.com, found that consumers are confused when it comes to leasing a car. They aren’t sure whether to put money down or not, how much to put down, and what exactly are the benefits of making a down payment on a leased car.

Large down payments are not only costly, but they can work against you in a lease environment, particularly if the vehicle is involved in an accident. Consumers need to pay close attention to this aspect of the negotiation process. Is there a better way?

We’ve all heard the old adage time is money and in leasing cars it is no different. Why get locked into a long-term contract when you can transfer your lease to someone else in as little time as possible? Besides, why waste money on a down payment for a car when you can get one for zero money down? All you have to do is take over someone else’s lease. It’s that simple!

Swapalease.com is a different kind of automobile marketplace that connects potential buyers to sellers based on their needs. People looking to transfer out of their lease are matched up with potential consumers on swapalease.com and the transfer process is begun. Swapalease.com requires NO down payment of any kind and the buyer can pick up right where the seller left off. What better way to get a new car than assuming someone else’s lease and making no down payment? The car of your dreams is waiting for you.

For more information on finding the best car lease deal or to learn how you can have a successful car lease trade, contact Swapalease.com at 866-SWAPNOW.

The New Math Of Leasing Is Like The Old Math

The Wall Street Journal reported last week that automobile makers are attempting to make “leasing a new car more appealing by lowering the cost of monthly payments, which in turn creates significant savings for consumers over the course of a typical three-year contract.”

Called the New Math of Car Leasing, the article goes on to mention that leasing has grown significantly in popularity because of the price, accounting for 26% of the car sales in 2013  (up 10% from 2003) and that 28% of the car sales for the first two months of 2014 are leases.

What it boils down to is something Swapalease.com has known for a while now. Car shoppers want an attractive payment, and they’re willing to make this commitment because, like a cell phone, they realize a car now comes with a fixed payment.

What does this mean? It means whether you lease or buy, odds are you’ll always have a monthly payment. People who lease are fine with this because they pay a low monthly payment, while drivers that buy are now financing very long terms, which means they’re making payments for many years. Either way, a monthly payment is happening so why not make the lowest payment possible via lease.

The main difference at Swapalease.com? No down payment and much shorter terms than what you’ll find at a dealership – two very attractive items to many car shoppers today. There’s no new math involved.

For more information on finding the best car lease deal or to learn how you can have a successful car lease trade, contact Swapalease.com at 866-SWAPNOW.

Car Lease Deals For Grads

Not only is graduation an enthralling day for the graduates; it’s also a lifetime highlight for family members. A graduation gift is a cultural norm, but graduates most likely won’t be coveting a gift that is typical. Entertainment systems, airline tickets, new phones – all great gift ideas, but not necessarily what your grad actually needs. Instead, your grad will be coveting something that can calm their anxiety regarding the unemployment rate among college graduates, which analysts say won’t be much lower from last year’s 50%.

US News surveyed 178 universities and found that nearly 48% of college students don’t have a vehicle on campus. Thus, when May approaches, a massive crop of graduates don’t have an easy way to commute to job interviews.  But a lease from Swapalease.com is a gift that not only is creative; it’s also useful and needed.

Five current deals that parents and other friends and family can take advantage of for their college grad include:

•    2013 Smart Fortwo $87/month for 16 months
•    2012 VW Golf $171/month for 19 Months
•    2014 Ford Focus $139/month 24
•    2012 Jeep Patriot $187/month for 12
•    2014 Hyundai Elantra $179/month for 36 months

Since the supply of Swapalease.com’s marketplace is produced by consumers, there are more endless options for car models, prices, and locations. And not only is the supply vast; the prices are much cheaper than many leases on the car lot. Since you can take over someone’s lease, this often results in only paying the monthly payment, not the down payment or other fees. The lease is also a short-term commitment, which opens up graduates to explore new vehicles with up to date technology and safety upgrades after the lease term is up.
These cheap lease deals are an investment into your graduate’s future, because it puts wheels underneath their aspirations. What could be a better gift than that?

For more information on finding the right car lease deal for your grad, or to learn more about how to take over someone’s car lease, call 866-SWAPNOW.

Should You Buy Out Your Car Lease?

It’s been a good run with your lease. Actually, a great run. You’ve had few problems with the lease. Now, three years later, the lease is up and it’s heavy on memories. Standing at the crossroad, you wonder if you should return it to a dealer or buy out your car lease.

The best way to determine if you’re making the right financial decision is to understand the residual value – the estimated worth of your vehicle at lease-end – and the car’s current value according to the bank.

If your residual value is still higher than the market value, you’ll have more leverage when negotiating a better buy-out price. In this case, you’ll also know the car’s previous history and what maintenance it requires, and you’ll save yourself hours of car shopping.

On the other side of the coin, if the vehicle has low mileage and is in decent condition, it can sometimes be cheaper to purchase rather than return it and attempt to find another vehicle around the same price.

Understanding the verbiage within the lease contract is also essential, because if your three-year lease only allows 36,000 miles, and you clock over it, the charge could be around 25 cents per mile, give or take. If there are dings and obvious wear and tear, you may be charged significantly to turn it back in. But, by buying out your car lease at that time, you can dodge those fees.

However, there’s a hidden downside to buying out that vehicle lease, to turning your leased vehicle into a permanent fixture in the garage: you can’t move on to a different vehicle and experience that excitement of walking outside to a new car. Or that new car smell.

The best deal for the family may also be the cheapest and the more exciting. And that lies in leasing another vehicle.

For more information on buying out your car lease or to learn how you can have a successful car lease trade, contact Swapalease.com at 866-SWAPNOW.

Is Sign And Drive The Right Car Deal For You?

Sign and Drive. We’ve all seen the television commercials for Volkswagen and other dealers marketing this opportunity. But what does it honestly mean? The conceptual idea sounds practical when you first hear it, but there’s more than signing the dotted line and driving away in the sunset with the car of your dreams. In the end, is this the right car deal for you and your wallet?

What Exactly Does Sign and Drive Mean? Sign and drive is a car leasing option offered by lenders to potential buyers. The concept behind a ‘Sign and Drive’ option is: you find the car you want to lease, go through the normal car leasing process, but in the end there isn’t a down payment. Buyers can become very disillusioned by this option.

What You Should Know. If you believe you can walk into your neighborhood dealership and sign and drive the vehicle of your choice, you may want to think twice. This kind of opportunity isn’t open to anyone and there are several stipulations hiding behind the name. The majority of people may not even qualify for the opportunity. Sign and drive deals require impressive credit scores. For those who get a chance to sign the paper, you will see under the fine print that usually not everyone qualifies. Typically, buyers must qualify for the offer and finance the vehicle through a certain financial institution.

Credit is analyzed differently in a car lease scenario, and once you pass the initial credit approval process your credit is analyzed a second time to determine what payment you qualify for.

Another facet to take notice of is your monthly payments. With no down payment in a ‘Sign and Drive’, the overall price of the vehicle will be made up in the amount your monthly payments turn out to be, compared to the price they’d be if you placed a down payment. For example, let’s say you pay $300 on a monthly sign and drive lease, but with a $2,000 down payment on a normal lease, your monthly payments may come out closer to $240.

Lastly, will the manufacturer behind Sign and Drive deals allow you to transfer your lease if your automotive needs change in the middle of your term? Always check with the manufacturer ahead of time to ensure you can complete a full lease transfer.

In conclusion, simply do your homework. Most advertisements on vehicles tend to be to go to be true. Read the fine print and don’t sign on the dotted line unless you’re well aware of the stipulations behind the deal.

For more information on sign and drive lease programs or to learn how you can have a successful car lease trade, contact Swapalease.com at 866-SWAPNOW.

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