Should You Lease Your First Car?

Your first car is exciting. No longer do you have to depend on others for transportation.

And it’s even more exciting if you get a deal that doesn’t empty your entire bank account.

But therein lies the issue: How can you get your first quality car for an affordable price?

It all depends upon your motive. If you’re looking to purchase a car, the price will be difficult to digest, particularly when you factor in the interest rate and down payment. And if you secure a long-term loan, now offered for 7-8 years, you’ll be paying for an eternity without any meaningful position of equity.

But if you’re looking for a short term, affordable option with flexibility, leasing is the right way to go.

Since you only use the car for a certain amount of months, you’re free to peruse the newest technology upgrades that other models will come out with. And if you find something that you don’t like about the car months after you agree to terms, you’re not locked in should you consider transferring the lease to someone else.

If you want your new car to be an affordable and reliable lease deal, take a look at The online leasing marketplace has thousands of vehicles that are currently in a lease agreement. You can shop for exactly the right car for you by taking over an existing lease and simply finishing out the remainder of the contract – almost like an extended test drive. More than often, when you take over a vehicle from, you don’t have to pay the extra fees, down payments and taxes that dealerships require. You only pay a low, monthly payment.

A perfect idea to make your first car exciting.

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