Car Leasing Tips For The Best Car Lease Deal

Car Lease shopping could be a less intimating experience if you know what things to watch for and what questions to ask in order to get you the best car lease deals. Here are some tips for car lease shopping.

Before going to the dealer…

  • Be familiar with the options and the model of the car lease deals offer.
  • Get quotes from auto insurance company for your future leased car, so there is no surprise how much you will be paying for your newly lease vehicle.
  • If you have valid auto insurance, ask your insurance company if your package covers the future lease car for a temporary period until you get its own insurance. Dealers won’t let you drive the car off the lot if you don’t have insurance.
  • Compare lease prices from multiple dealers of the car you want to lease
  • Shop car leases using sites like to gain better ground to negotiate with the dealer.
  • While comparing car lease deals, pay attention to monthly payment, lease length, down payment, mileage limit and cost per mile after the mileage limit.
  • Normal mileage limit is around 10,000 miles to 12,000 miles per year. You could pay a little more in advance to get a higher limit to 15,000 miles per year.
  • Pay attention to what it includes in downpayment: 1st month payment, capitalized cost reduction, acquisition fee, security deposit.
  • Know your credit score, good credit score could be a requirement to qualify some good lease deals.

While shopping car lease at the dealer…

  • Ask about warranty: what it covers, how long it lasts. MINI and BMW offer warranty which covers annual maintenance, brakes replacement.
  • Do not lease the vehicle for longer than the warranty period because you’d want to take the full advantage of not paying for maintenance of your lease vehicle.
  • Check for Return Fee in the lease.
  • Dealers offer many plans or program such as paint protection, tire protection, body damages or security system like lo-jack or Phantom, etc and claim to protect the value of your leased car. Some plans do provide good values; it is up to you to decide if they suit you. But if the lease contract requires a return fee, do check with the dealer to see if it covers any of the body damage/dent so you would not have to pay additional for those plans/services.
  • If you decide to purchase additional plans or programs, it is advised that you pay them off by including in your down payment. Otherwise, the dealers will add them to the total lease amount and increase your monthly payment.

After leasing the car…

  • Buy GAP insurance. GAP stands for Guaranteed Auto Protection. The cost is relatively low for what it covers. It insures you for the difference between your loan amount on the car and the actual market value of the car; if you totaled your car in an accident and you would receive market value of your car which was generally 20-30% lower than the loan of your leased vehicle. In another word, you lost your newly leased car and you would still be paying your monthly payment until you pay it off. GAP insurance will solve that problem.
  • Take good care of your car to avoid additional charges when return the lease vehicle.

Good luck on shopping the best car lease deal.

Posted in |

Legalities of Leasing – Five Tips to Help Landlords Write Their Lease Agreements

If you are planning becoming a landlord; and especially if this will become your primary source of income, there are some things you must know.

One key thing is how to write your lease agreements in order to protect yourself. This is crucial and should be your first order of business. If you do not handle this the right way; you face the possibility of legal headaches along the way. Right off the bat what you ought to do is hire a good lawyer with expertise in such matters. However, knowledge is power. Therefore we are going to help you to become more knowledgeable in writing your lease agreement.

A great rule of thumb to go by is to get everything in writing; right down to every minute little detail. This is true of any situation where legal problems can arise; but perhaps more so when it applies to your agreements with your tenants. Save yourself some trouble, document everything.

A tip that goes hand in hand with that rule is to have all of your tenants’ rules regarding their behavior and the treatment of your property specifically documented. Do not leave out anything. You are the owner of your property so it is within your rights to lay down the laws for such things. You should also spell out what will happen when those rules are violated.

That leads us right into our next suggestion for you – eviction proceedings! Eventually it will happen. You will get a tenant that continuously disobeys every rule you have, despite any written warnings you send to him. You might hate to do it; but at this point you have no alternative but to evict him. Before he can go screaming bloody blue murder to the local authorities you can point out to him; and be able to prove in a court of law, that you accounted for all of these things when you wrote his lease agreement. Then he will have no leg to stand on.

Another set of details you want to have written into your agreements deals directly with your tenants’ money. Whether it is their security deposit, or their monthly rent, or fees for late payments, or any other kinds of fees that could crop up; again, DOCUMENT EVERYTHING!! Then you have legal recourse when there are money issues with your tenant.

Once more we want to reiterate that if you are going to be a landlord; you really must have a vast know-how of handling these issues. To begin with your lawyer can assist you in writing the agreement in the first place. After the first agreement is complete; nowadays it is easy to store it on your computer and make modifications to them as you go along. You do not literally have to type up each and every agreement separately. However your lawyer can make sure you tailor each agreement to its specific tenant. Remember the old Boy Scouts’ motto of always being prepared – get everything in writing!!

Posted in |