Tag Archives: car lease shopping

The Best Time to Get Into a Pre-Owned Vehicle

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For the most part, pre-owned vehicle prices have been in decline and look to remain this way for the next two years. As stated in a recent CNBC article, used car prices have dropped by 11.8 percent from August 2013 to July 2014.

Right now is one of the best times to get a pre-owned vehicle. As the supply of used cars grows, there is less demand for them so dealers are looking to get those models off the lot for less. There has been a two percent decline in prices for midsize sedans from $15,000 in June to $14,700 in July.

But there are other options when shopping for a slightly used vehicle, and one that is still under warranty. Have you ever taken over the contract on an existing car lease? Leasing a car allows for much more flexibility and ease when making the decision to get into a vehicle and can be more cost effective than purchasing a car. Swapalease.com is the largest online car lease marketplace helping drivers get the best deal suited for them.

Also, leasing helps drivers avoid the depreciation situation because you’re not selling your car at the end of the term, but rather handing the keys back to the dealer.

Pairing drivers who are compatible, Swapalease.com helps individuals looking to get out of their car lease find someone willing to take over the remainder of their lease. Potential buyers can search car listings to find what they’re looking for and Swapalease.com will facilitate the lease transfer process. Don’t wait until the price drops on the car you’re looking to acquire when you can be driving that car right now.

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.

Several Misconceptions Of Car Leasing

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If you’re new to car leasing, you could have several misconceptions about leasing a vehicle. Here’s a few of the biggest ones:

  • Leasing a new car costs more than purchasing it. With a leased car, you pay a down payment, along with low monthly payments until your lease is up. For example, a 2013 Honda Accord EX, costs $24,500. You can get it from the dealer at $334 per month. For the standard 36 month lease, that’s a total of $12,024. Even after insurance, a down payment and the monthly fees, it’s much cheaper than purchasing.
  • There’s equity in buying, but nothing at the end of the lease. Not the case. According to Best Buy Auto: “Leasing offers the potential for cash value at the end of its term as well: by keeping your equity out of the vehicle. The cash flow derived from no or a lower down payment and lower lease payments during the life of the lease, together with interest, can produce an amount roughly equal to the used vehicle’s value at the end of a conventional loan.”
  • Dealerships tack on additional expenses at the end of a lease.  If you abide by your contract, no extra fees are added on for excess mileage or wear/tear.
  • Only businesses get a tax break with a leased car. According to Kiplinger, Tax laws do allow businesses to “deduct monthly leasing payments as an expense. But individuals get a tax break, too.” In most states, you pay sales tax only on the monthly payments, not the vehicle price. For example, in a Nissan Altima, you’d owe taxes on about $8,264 in payments rather than the $21,403 vehicle price.
  • Once you sign a lease contract, you can’t get out of it. This is why online lease marketplaces like Swapalease.com exist. Swapalease.com allows you to take over someone else’s lease. Or if you want to get rid of your lease, you can give the responsibilities – and the contract – to someone else on the online marketplace.

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.

Tax Benefits For Business Car Leasing

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The deadline for taxes – April 15 – is about a month away. And companies that have leased vehicles for their business needs – a popular move since many dealerships, banks and credit unions don’t offer financing to businesses – are seeing the benefits during recent number-crunching to meet that deadline.

With leased business vehicles, owners can deduct the expenses of the lease and the operating expenses based on the percentage of business use. For example, if your yearly lease payment is $4,200 ($350 per month) and your business use percentage is 80%, you can deduct a whopping $3,360 on your tax return for that year.

The IRS allows such in two ways:

Using the standard mileage rate. The former rate is said to be the preferred, easier method, especially if you do relatively little business driving. First, find out if you qualify. Then you can calculate the fixed and operating costs of your vehicle by multiplying the number of business miles traveled during the year by the business standard mileage rate. This rate is set annually by the IRS. For 2013, the rate was 56.5 cents per mile, and in 2014 that rate is 56 cents per mile.

Using the actual expenses method.  Your deductions are heavily dependent on the records you have in order to calculate those deductions, including gas, oil, tires, insurance, etc. Although this method is more thorough, you may qualify for a larger deduction.

Keep in mind that the tax you pay on the monthly payment is deductible as well.

Assuming a business lease on Swapalease.com will not only grant you these tax benefits, but will also leave necessary cash that would be spent on a purchase. Simply visit the online car lease marketplace and begin looking for a vehicle that fits your business needs.

For more information on car leasing for business purposes or to learn how you can have a successful car lease trade, contact Swapalease.com at 866-SWAPNOW.