Tag: car leasing basics

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Leasing a new vehicle instead of buying one is similar to renting an apartment over buying a house. You have all of the privileges of ownership without all of the responsibility and without taking out a loan. One of the biggest benefits of leasing a new car is that you get the chance to drive a new car, often for less money than it would cost you to buy it. Month by month for a specified amount of time, you make payments in exchange for being able to drive the car. This sounds like a good deal, right? It can be, but before you decide to lease a new car, here are 8 things you need to know about new car leasing.

  1.      Leasing may be a better option to buying if you don’t have the cash to buy a car, if you want to drive a new vehicle, and if you expect to [...]

Once you’ve decided to lease a car, you may want to equip yourself with the jargon that comes along with it. After reading this article, the next time you meet with your friends or dealer you will be fluent in basic car leasing terms. After all, they must know that you mean business and aren’t fooling around. Here is a list of a few terms you should acquaint yourself with if you’re looking to leave an impression!

1)    Acquisition fees

This is also referred to as the ‘bank fee’ or the ‘administrative fee.’ This account for the charge leasing companies takes for arranging the lease. This is more like an arrangement fee and can either be paid downright or in monthly installments. Not every company asks for this.

2)    Capitalized cost

This is essentially the price of the car that you’ll negotiate for and will pay over the upcoming months. The lower the cost, the [...]

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