Jun 032012
 

Now that you have come at the end of you lease, you like your car enough to want to keep in the driveway. Just like buying a used car, there is some research to be done to nail a good deal.

First, you need to know the cost of buying out your lease. What you need to do is read the fine print of your contract and try to find the “purchase option price.” This price is set by the leasing company and usually comprises the residual value of the car at the end of the lease plus a purchase-option fee ranging from $300 to $500. Having signed on the dotted line means that aside from a monthly financing fee, your monthly payments were calculated as the difference between the vehicle’s sticker price and its estimated value at the end of the lease. This estimated price of the car value at the end of the lease is what is termed in leasing jargon “residual value”. It is the expected depreciation – or loss in value – of the vehicle over the scheduled-lease period. An example would be a car that has a 50% residual percentage and a sticker price of $40,000 will have an estimated $20,000 value at the end of the lease.

Now that you know the cost of buying out your lease, you need to determine the actual value, also termed “market value”, of your vehicle. Do you know how much your car retail costs in the market? You need to do some pricing research in order to pin down a good, solid estimate. Checking the price of the vehicle that has similar mileage and condition with different dealers is a must. For detailed pricing information, you need to use online pricing websites. Giving you a fair estimate of the retail value of your vehicle is the gleaning price information from various sources.

You’re a winner, in case the residual value is lower than the actual retail value. Unfortunately, there is a good chance a car coming off a lease is a little on the high side. But you shouldn’t despair. Since leasing companies are aware that the residual values on their vehicles are greater than their market value, then they are always on the lookout for offers. The price of your leased vehicle can be knocked down with some smooth negotiating tactics.

A price that is below your actual target is what you need to put forward and until you are near that figure, negotiate hard. Chances are you’ll get your car at the market value if not slightly lower.

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May 312012
 

Making it easier for you to make an informed decision is understand how to calculate your monthly lease payment. But shying away from the complicated math on our lease contract is what most of do and so we leave it up to the dealer to do the payment formula.

The truth is, it’s not that difficult. Everything else will fall into place once you understand all the figures that are involved in calculating your monthly payments. The key figures include:

Manufacturer’s Suggested Retail Price or MSRP: The list price of the vehicle or the window sticker price is what this refers to.

What is the Money Factor? The interest rate on your list is determined by this factor. Before you enter into a lease, you need to insist that your dealer discloses this rate.

The Lease Term: This refers to the number of months that the dealer rents the vehicle.

The Residual Value: This refers to the value of the vehicle at the end of the lease. You can again get this figure from the dealer.

Now we have to calculate a sample lease payment that is based on a vehicle that has a money factor of 0.0034 (this is usually quoted as 3.4%) and an MSRP or sticker price value of $25,000. Base it on the scheduled lease that is over 3 years with an estimated residual percentage of 55%.

Calculating the residual value of the car is the first step you need to take. You multiply the MSRP by the residual percentage:

$25,000 X .55 = $13 750.

The car will be worth $13,750 at the end of the lease, so you’ll be using:

Formula: $20,000 – $13,750 = $11,250

For over a 36 month lease period, the amount of $11,250 will be used you will be given a monthly payment of:

$11,250 / 36 = $312.50.

This is the first part of the monthly payment, called the monthly depreciation charge.

The second part of the monthly payment, called the money factor payment, factors the interest charge. To calculate this, you need to add the MSRP figure to the residual value and multiply this by the money factor:

($25,000 + $13,750) * 0.0034 = $131.75

We finally get the approximate monthly payment when we add the two figures together:

$312.50 + $131.75 = $444.25

The amount of $444.25 will be your monthly payments for the 36 months of the lease.

Don’t forget that this is a simplified calculation which means that taxes, fees, rebates, or any other incentives will not be taken into account. You will be given a ballpark figure with this calculation or a rough idea of what your lease payments for the vehicle in question should be.

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Feb 262012
 

Many of us have a leased vehicle and will need to return the car at the end of the contract back to the leasing company. Sounds pretty simple until you read the fine print of the contract and realize you may be liable for excess wear and damage on the vehicle. What you think are small scratches, scrapes, blemishes and dings might add up to hundreds or even a thousand dollars if you brought your car to a auto repair shop to have them fixed. There are a few things to do in advance of your contract ending that could save you from a serious and unexpected bill.

1. Read your contract! What does it permit for small dents, scuffed bumpers, and curbed wheels, in other words, excess wear and tear? What sizes are tolerable? What amount are you allowed? What is the threshold figure?

2. If you have questions call your leasing agency well in advance of your contract termination date. Ask how much you will be charged if the damage is not repaired. Some lease companies might even permit you to e-mail them pictures.

3. Does your lease company conduct vehicle inspections to an Industry Standard or do they have their own variation, and can they provide you with a copy?

4. Would they provide you with the option of a pre-inspection which will tell you what you may be charged for and so give you an chance to repair the problems on your own?

5. Does the lease company require you to have the car cleaned/detailed before it’s returned?

Lease companies are generally very helpful when it comes to returning their cars, so you needn’t be afraid to call their Helpline for advice.

What to do next

Whether your lease company provides you with a pre-inspection report or not, you must do a complete inspection yourself. Search for anything that is both obvious and not so obvious that you might get charged for. Unless the damage is significant it is likely you will be able to perform the fix yourself by using one of the many products available on the market. All you have to do is determine the type of damage you have and use the internet to find a suitable product to help repair the damage. By doing this you can avoid the high cost charged by professional auto repair companies, thus saving up to $1000.

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Feb 162012
 

Purchasing a brand new vehicle could be a massive cost, specifically more so for smaller, or new company start ups, and in the current economy, acquiring bank loans to buy vehicles without several years of company accounts and trading behind you is incredibly difficult. It’s for these causes the car market has seen a large boom in automobile rental contracts, and this is not just limited to businesses either, as private car owners are also trying to rent vehicles too.

Yet, what is automobile leasing?

Renting a vehicle is merely a contract created between you and also the car company to hire the selected car for a set time period, typically for at least 1 or 2 years. You pay out a set month to month charge for the automobile, which in many circumstances also includes regular servicing and maintenance, and when your agreement has expired, you return the vehicle with out having to be concerned about selling it or trading it back again.

Car leasing uk for both business and private automobile owners has a huge quantity of rewards, and these are :

– Very low deposit options, ideal for people that are unable to secure credit or financing from banks or any other creditors

– Set month to month repayments, which can usually be lesser than traditional car lending options.

– The majority of car lease contracts also include yearly servicing and maintenance. Products such as new tyres and brake replacements ought to be also covered, providing the car has been run as per the makers and leasing businesses specifications.

– Should the car need in depth repairs due to an engine problem or even an accident, most lease organizations will exchange the automobile for you, so you don’t have to wait for this work to be finished.

– As soon as you have concluded the agreed time period of the lease, you return the automobile, and can lease a brand new model right away.

– You do not need to worry about selling the car, marketing it, dealing with enquiries, or trading it back to a dealership.

Vehicle leasing is also a wonderful means for new companies to develop and expand their operations and offer vehicles for their staff. These advantages are far more beneficial for organizations, such as:

– Businesses can rent several vehicles quickly, with very low deposits and rates. There is no need to source funding from a loan provider.

– Having totally operational autos is vital for several companies. Should you own a automobile which needs substantial fixes, you can find your employee(s) are unable to perform their tasks, and this may cost you income. Many rental companies will offer a replacement automobile to ensure your company operations aren’t impacted.

– Autos really are a depreciating resource, and several business vehicles cover a lot of miles. As soon as your lease has run out, you return the automobiles and can choose to get newer designs. This will save on you having to keep and maintain old designs which become unreliable with age and extensive use.

– Car renting is tax deductible, and the month-to-month costs could be set against your impending VAT invoice.

Choosing the proper car leasing business for your business can be tricky, searching on the internet is the best option, where you can look over a number of companies to find the right costs and terms and conditions.

Feb 092012
 

Car owners are commonly required to deal with multiple needs of maintenance and care throughout the ownership process. These are machines that are designed and created with an incredible number of moving parts and components that are all required to be kept up with and worked through at various points in time as the vehicle is driven and continues to age. People facing this process should know the process of choosing the right auto repair facility in order to keep their car running well at all times.

A majority of vehicles owners are not able to provide the maintenance required for their vehicles. There are a large number of parts and areas of need within any vehicle that require a great deal of expertise and special equipment to keep up with the successful longevity of the vehicle when owned. This is usually a process that is much more successful and efficient when performed by a skilled and qualified professional.

People that are looking for a professional to perform this process on their car are usually faced with an incredible number of selection options available to them. This can often make the selection process become much too complicated to contend with as they are all usually very similar in the overall services that are offered. Drivers that know what goes into making this selection are often able to make sure they find precisely what they are seeking.

Owners should focus their choice efforts initially on the location of the facility in question. Location is often much more important to owners that are unable to drive their vehicles for longer distances without the use of the facilities. Choosing a facility that is conveniently located helps make any maintenance process much more effective to complete.

There should also only be focus given to professionals that are equipped with the latest in mechanical equipment and technology. Many processes performed by professionals require special pieces of equipment and machinery in order to make this process effective. This is usually only discovered by advertising processes as well as having a tour of the facility.

Perusing the waiting area should also be performed when picking a facility. The waiting area is always important to weigh in as this is the area in which consumers are likely to wait for their vehicles to be repaired which should be kept as clean and comfortable as possible. This is also a leading indicator into how effectively the remainder of the facility is managed.

Packaged plans and promotions should also be focused on when picking a facility. Packaged pricing and offerings are now very common within this industry as they are aimed at making the entire maintenance process as affordable as possible. Those that offer the most comprehensive services in these packages are the only ones that should be picked from.

Selecting the right auto repair facility should finally include checking if they offer convenient and affordable financing. The financing options offered to consumers are usually aimed at providing a source of affordability for this process. These financing options should be offered with little to no interest.

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Jan 312012
 

One of the most challenging tasks is hiring a new auto mechanic. You do not want a fly-by-night shop that does not guarantee their work or someone who is not professional. Many of the large corporations charge much more than the general public is willing to pay because their overhead is so much greater than a mom-and-pop business. Telltale signs of a reliable shop exist but you must know what to ask and look for.

Some shops will tell you that you need this or that part but they do not install these. Instead they may grease or fix your old part and charge you for new ones. When you go to pick up your vehicle, request to see your old parts and for them to show you your new ones. This will ensure that what you were charged for was actually done.

It is a good idea to request the business to inform you of any additional parts or labor before the operation is performed. A common practice of many shops is to go ahead and perform operations before notifying you of its cost. If they request you to sign a blank work order, do not sign it. Instead ask them to write down the work they are going to perform and initial each item. When you pick your vehicle up, make sure nothing has been added to the order without your initials.

Many people like to purchase their own mechanical elements and simply take them to a business to be installed. This is a real money saver in many cases but there may be added costs that you did not expect. Most retailers require a core to be exchanged so it can be rebuilt. You are advised to take you vehicle to the shop, let them remove the broken elements and take that back to the retailer for exchange.

Do not simply take the word of a shop worker that something was done. Inspect the work performed. A reputable business will not object to showing you their craftsmanship.

You should know that an estimate is exactly that. It does not mean that this is exactly what the process will cost but only that it can cost up to this amount. Ask to be informed if costs will exceed the estimate before performing the labor.

An organization that does not have the proper equipment may indicate they are a fly-by-night business. A certified establishment should have jacks, lifts, compressors and other professional supplies that make their job easier. If they do not have these, ask how the operation will be performed.

Securing a reputable auto mechanic is sometimes a difficult task but if you follow these tips you will find the undertaking is less of a chore than you once thought. Most experts recommend that you get references from friends, neighbors or co-workers before you take your car anywhere. Word of mouth is the best form of advertising and when friends or family find a someone they trust, they like spreading the word.

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Jan 282012
 

Reputable companies offer you trailer rentals to satisfy your short-term storage needs. The convenience that comes with trailer storage allows you to store your possessions whenever and wherever you may need them.

If you are dealing with some sort of storage crisis, you may not immediately think about using fleet maintenance. However, this is a highly viable and affordable option. Trailer rentals can provide you with easy access and convenient storage needs instantly. In addition, moving firms have a contingent of competent employees who are able to assist with the heavy-lifting. They also understand how to treat own cherished items with care and dedication. These very helpful experts can take your personal items away from harm’s way to a safe and secure storage yard until you have handled your crisis. Afterwards, they will send your belongings back to you in pristine condition.

When you are remodelling your property, you may wish to remove some furniture and other precious belongings away from the construction zone. This is especially true if you are constructing a brand new home, and development has fallen right behind schedule. You will need to vacate the previous home, yet the brand new residence is not ready. In such a scenario, the movers are able to place your personal possessions inside a moving trailer and carry them to a nearby storage space yards. They may also park it on the location until you will get your own occupancy permit.

In the event that you and your loved ones are the regrettable victims of flood, fire or another tragedy, trailer rentals give you a speedy resolution for dry, clean and portable storage space. Dependable moving companies will move quickly to assist you. They will be able to save your personal items no matter what disaster has befallen you, and safely remove them to a convenient storage space. Your belongings are going to be protected against the weather and other harmful environmental factors as you make repairs to your property.

Trailer rentals are a revolutionary solution to any of your business storage issues. For instance, should your company stock seasonal items, what should you do with your items throughout the remainder of the year? When you do not have sufficient warehouse space, you will need a destination to store your off-season items. Trailer rentals may be one of the most cost-effective choices. You can preserve your own stock close to the business if you want fast access, or have it relocated to another secure storage area up until you need it. Heated trailers and refrigerated trailers are also available for more specific seasonal needs.

Naturally, trailer rentals provide an innovative resolution for short-term or temporary storage needs in many situations. If you want quick, portable storage space on your household items, or perhaps seasonal storage for the business, think about getting in touch with a trusted moving company to check out their own trailer rentals process. There are many trailer rental and leasing services that will ensure your belongings are safely guarded.

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Jan 242012
 

In case you have a truck or even a van you will recognize that situations may be significantly diverse from managing a small car. Things such as registering and checking your automobile can be more expensive. Additionally, you have to pay the cost of truck and van insurance.

Once you own a car, there are several benefits. You’ll be able to go anywhere you prefer. You’ll be able to head whenever you want that’s suitable in your case. You do not have to wait for the bus. Public transit can be difficult to plan around. You will find only certain times that the transportation is open to you. Your plans need to depend on the specified schedule the public transport is on. Few people has use of public transit. Folks who reside in countryside often don’t have public transport in their town. Devoid of this alternative, these people need to possibly walk, take a bike, carpool or possess a vehicle of their own. People who stay in rural areas have a stronger requirement to own a car of their own. Along with possessing their own personal automobile, they have to acquire truck and van insurance.

There are lots of charges which may be associated with possessing an automobile. When you own a car, acquiring insurance plans are the only way that you could keep on being legal. Needless to say, unless you plan on riding your truck or van, you don’t need to have insurance coverage with it. While this is probably an appealing decision given it can save you lots of money on truck and van insurance, it is not an intelligent conclusion.

If the vehicle meets an accident, you’re solely insured in case you have gotten insurance protection onto it. Also, it happens to be legally required that a person has insurance on your vehicle before you decide to drive it on a road trip. Inability to comply with this legal requirement might have extreme effects. If you’re busted using your vehicle without being insured, you may forfeit your permit to drive. You may also deal with a large fee as well as incarceration. You can easily prevent these types of consequences by simply driving with insurance coverage. If you are unable to manage to possess coverage on the vehicle, it is advisable to simply not drive until you could afford to obtain a policy.

There are plenty of stuff that help make possessing insurance on the vehicle a good reward. In case you have truck and van insurances, you will find the insight that you’re legal. You’ll have the power of becoming covered should something would happen.

Nobody plans to meet an accident although they actually do happen.

You can get truck and van insurances for the vehicle in many different locations. You will find truck and van insurances on the web. It is usually quite simple to take out an insurance policy online.

A different way that you can aquire insurance policy is in person. Having an agent to obtain an insurance policy is often the way that a lot of people get a policy. It does not matter how you get a policy as long as you do.

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Dec 302011
 

Despite aggressive low-interest financing, cash-back offers and other purchasing incentives offered by leading auto-makers to buyers, leasing numbers keep increasing steadily over the years. Leasing is more than just an inexpensive way to drive a hot new model every few years or so, but also a reflection of a consumer’s personality and lifestyle.

Benefit One. Keeping abreast with the latest automotive advances.

In most cases, leasing is an option predicated on a person’s lifestyle rather than his or her finances. Many people are not comfortable with the idea of owning a vehicle over a long period of time. They’d rather keep up with the latest trends of the industry and drive the latest models every two to three years.

Leasing a car is a great opportunity for anybody to inexpensively enjoy technology advances that make for a safer and more entertaining driving experience, such as DVD players, multi-speaker stereo systems and electronic stability. Of course, the catch is not being the vehicle owner, but leasing allows you to have a neat car with all the bells and whistles for a limited period of time.

Second Key Benefit. Flexibility in Purchasing.

In addition, you get more purchasing options through leasing. It allows you to defer the purchasing decision while using the car. You don’t have to worry about losing your hair or having a heart attack upon being slapped a sizeable bill for maintenance or repairs, neither do you have to fret about having a depreciating asset in your name. Think of a lease as a two to three year test drive (may be shorter or longer depending on the lease’s terms), but just be sure you are staying within the mileage allowance and keeping the car in pristine condition. At the end of your lease, you can purchase the vehicle or simply turn in the keys and walk away. Simple as that.

Benefit Three. No Down Payment.

Leasing offers many short-term benefits. It reduces your initial cash outlay as you do not have to pay the large down payment required for car ownership. Rather, you would be paying for the car’s depreciation, which would only be the portion you will be using during the course of the lease. This results in lower monthly payments and frees even more cash. Instead of being in the ownership of a depreciating asset, you would likely have enough money saved up for other necessities in life and other payables. But that’s not all – you can write off your lease as a business expense if you use your car for business purposes, even if you are self-employed.

Benefit Number Four. Negotiating Leverage.

Although it may seem a little unorthodox in this industry, almost everything about leasing is negotiable. Consider the potential options you have if you are aware of the fees involved in your agreement – you can lower your monthly lease payments, haggle for a lower purchase price if you should buy the vehicle, or negotiate for a few extra miles on top of your mileage limit. You can also do some shopping around and compare deals from different auto-insurers to get the cheapest GAP insurance for your lease.

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Dec 302011
 

Cars are important to most people today. This is majorly because they help people move from place to place easily. They can take children to school, and then they can pick them up later on. Or they might be used to go to the market. However, cars are mechanical items, this means that at some point they will break down and need repairs. But a person can prolong this inevitability by following a few auto repair tips to keep their cars in mint condition.

If a vehicle breaks down, it is usually fixed by a mechanic who more often than not overcharges a person. So, it is important that cars are maintained so that people can be sure that they will not break down. In addition, these tips can help people understand their vehicle better.

To start with, a car should always be cleaned. This means the inside as well as the outside. This is because if it is not it may spoil. This is especially true of the paint job, when it is not regularly clean the sheen will fade off. In addition, cleaning the interior gets rid of any smells that may be lurking in there.

Nevertheless, cleaning ought to be done in the right way. This is simply because if done in the wrong way, the coating may be scratched, or other parts of the car may spoil. The engine is usually one area that more often than not gets damaged.

Thus, to clean an area such as the engine care needs to be practiced. Additionally, it should not be removed if someone has no idea how they can do that. This is since they can end up damaging it.

When cleaning the engine it should not simply be splashed by water. It is important that it is cleaned well. This is so that it does not spoil. In fact, most people always wonder why the motorcar does not start after a wash yet it is because the distributor cap was exposed to water. So, a person can get expert help in cleaning the engine if they do not know how.

Additionally, the levels of fluids in the vehicle have to be checked. This is because most of them aid in the smooth running of the car. So, the brake fluid and transmission fluid need to be checked a lot. And the engine oil too has to be checked, this is so that if it is dirty it can be changed.

Furthermore, it matters a lot that the some tools are always found in the car. This is since a car may get an accident somewhere and they can be quite handy. A car jack is one of them, and spare tires are others. They can be used in case a vehicle bursts its tires. However, if one does not know how to change a tire, they should not do it since it can be dangerous when done in the wrong manner. These auto repair tips matter a lot and ought to be observed by anyone with a motorcar.

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