Car Buying Tips Guide 1

At the risk of beating a dead horse, I will reiterate: Get are so much more vulnerable if you don’t, in almost all cases. If you ...

CHAPTER 8 - LEASING ’m a proponent of leasing—for the right customer, and if the lease isstructured right. Having developed cust ...

done, the lessee is within warranty coverage for either the entire time theyhave the vehicle, or most of it, thereby limiting ou ...

If the lease is structured correctly, the end of term price—called the residualvalue—will be equivalent to the vehicle’s wholesa ...

used car chain if you’re considering doing a pass through.TIP: It’s safest to use a franchised dealer or large nationwide^ You c ...

Also, if the leased vehicle’s real market value turns out to be residual value, the bank or manufacturer takes the loss—not you. ...

leases for most people—although there are exceptions for very high-endcars, municipalities and others. The states and federal go ...

percent, and gotten a kickback on the finance fees. This profit is called“reserve” and can double their real dealer profit. This ...

from $525-$795 base cost on mainstream cars. Dealers often try to markthem up $100-$300. fees that start at around $800.TIP: Hig ...

The vast majority of leases these days are 36, 39, or 42 months. Twenty-four-month leases are rare, as are 48- and 60-month term ...

car yourself. TIP: If you need out early, the best option can be to sell your^ Do it as a pass-through if you live in a state wi ...

48mo $23-$25 60mo $19-$21 As you can see, a longer term helps keep the payment in line if you’rerolling in a lot of inequity. On ...

Therefore, the higher the residual-value percentage, the lower thepayment, and vice-versa. Cars that have good resale value have ...

you buy it out or sell it retail. TIP: You only pay a mileage penalty if you turn in the car—not if^ If you need more than 15,00 ...

Wear and tear is the other big bugbear. Since many lessees never taketrue mental ownership, they don’t repair dings and dents or ...

the day, they’d nickel and dime someone to death, losing a customer overtrivia. Now, most seem aware the cost of getting a new c ...

In Chapter 11: Getting the most for your car, I explain how to get the mostfor your trade-in and how to use professional vendors ...

your desired payment.TIP: Put as little money down on a lease as possible to achieve I’d rather have a client pay down other deb ...

A good thing: two days later, he was hit at an intersection, and the Camrywas totaled. If he hadn’t gotten GAP, the difference b ...

SUMMARY Leasing is growing in popularity—and with good reason. Standard-lengthleases (between 36 and 48 months) fit many new car ...