6 Steps to Leasing a Car: What Everyone Should Know
Publishers Note: Be Careful Be Very Very Careful...if there is any chance that you will not be able to complete the lease preiod..DO NOT LEASE! Any saving you think you will get from leasing will go up in flames...with todays low interest rates why lease?
CINCINNATI--July 11, 2002--Americans love their
automobiles and now they are also learning to love leasing their cars.
Almost 25% of Americans chose to lease vehicles last year rather
than going with a traditional bank loan. That's up from the less than
10% a decade ago. As many consumers lease for the first time, they may
be unaware of all their options and may simply accept what the dealer
has to offer without comparing. They may well be spending more than
they should.
One website, www.LeaseCompare.com, has chosen to address this need
for education and provides an opportunity for consumers to evaluate
their leasing options and shop for the best deal among a group of
lenders. Visitors to the site can read a six step Auto Lease 101
discussion and work though the process at their leisure without the
pressure of sales people. The steps briefly include:
Step One - Is Leasing for You? - Consumers review brief questions
about their car use and buying habits to see if leasing makes sense.
Individuals who are accustomed to always having a car payment, who
prefer driving cars under the manufacturer's warranty, or who need
their vehicle for business purposes often see leasing as an advantage.
Step Two - Choosing Your Vehicle - Leases are difficult and costly
to break and customers should consider vehicles that hold their value
and should take the time to test drive the vehicle before committing.
Step Three - Negotiating a Price - While many people focus on
finding the lowest lease payment, negotiating a good price for the car
prior to arranging the lease terms lowers the overall cost of the
deal.
Step Four - Picking an Ideal Term - 36 month leases are standard
but for some people, considering cars with a good reliability history,
a longer lease might make sense.
Step Five - Mileage Considerations - Consumers should estimate
accurately the miles they intend to drive over the term of the lease.
Step Six - Putting Money Down - Large down payments may make the
monthly burden easier, but the site argues that lump sums are lost in
the case where a vehicle is totaled or stolen. It makes more sense to
bank the down payment and slowly use it for payments over the life of
the lease.
Once shoppers have decided on their lease terms,
www.LeaseCompare.com, as the name suggests, provides a tool to
evaluate leasing options from a number of sources. Customers can
actually lock in the lease quote they like and in a matter of minutes
apply for credit via a secured server. They receive a leasing package
detailing terms and vehicle delivery.
Tarry Shebesta, president and owner of Automobile Consumer
Services, Inc. (ACS) the lease facilitator for LeaseCompare.com, notes
"visitors to LeaseCompare.com often call our customer service center
before finalizing their lease request online. They want to know what
the catch is and are surprised to find there is none. They really do
save money by taking the time to compare."
Beyond basic education and leasing, LeaseCompare.com also offers
links to help negotiate car prices and determine the availability of
both new and late model used vehicles. There are few consumers that
won't save money by investigating this site.
About Automobile Consumer Services, Inc. (www.acscorp.com)