A cheap car lease is a good option for an individual who is in need of a car but is not capable of buying one. A car lease is quite similar to renting a car but it only involves a fixed lease term. Within the lease term, you are required to pay monthly payments in exchange for the use of the car. At the end of the lease term you have the option to return the car and get a new vehicle to lease or buy the vehicle that you leased. Besides this, there are other things to consider in getting a cheap car lease and this includes the following.
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Premature auto lease termination law in California
Premature auto lease termination could be one of the best options if you are not capable of providing the monthly payments required on the lease. You can also terminate the lease in case you were able to find a car loan that involves payments that are more affordable compared to the premiums that you are paying on a car lease. If this is the case and you are leasing the car in California you are very lucky. This is because California law could help you do this. However you need to a hefty amount of money in order to this. Besides this, there are other things that you need to understand before terminating the lease and these are enumerated below.
6 Disadvantages of a car lease
Car lease is a common option for individuals who are not capable of buying a car. This is also an option for individuals who want to switch vehicles every now and then. Just like buying a car through a car loan, lease involves monthly payments, interest rates, and credit checks. There are also differences between the two. In financing a car purchase through loans, you can actually own the car as soon as you pay the loan off while in leasing you need to return the car to the leasing company where you obtained it when the lease term ends. Besides these, there are other disadvantages involved in a car lease. Some of these are included in this article to provide you with greater understanding and this includes the following.
Payments and costs involved
Leasing a car is actually expensive compared to buying a vehicle through auto loans. This is because there are many fees involved in leasing that are not found on car loans. These fees include leasing costs and financing charges.
Common car lease costs
Car lease is a good option for individuals who want to change cars frequently. This is also a good option for car buyers who are not capable of buying brand new or used cars of their own. However, the costs involves in leasing a car depends on the type of vehicle that is subjected to lease. In case you are planning to lease a car, it is still important for you to do the research most especially on the type of cars that you are interest to lease. The cost of leasing should also fit your budget so as to avoid further complications. In order to provide you with the idea on the expenses involved in a car list, some of the common costs of leasing are enumerated below.
Cars below $17,000
There are cars that are offered for lease that would cost you about $17, 000 dollars or below. A good example of this is the Ford Focus. This is a four door sedan with good fuel economy and style suitable for daily use. The Focus has also a roomy interior that is capable of accommodating up to five passengers in case you need a vehicle for the family. As of 2010, the Ford Focus can be leased for about $195 per month. However, the monthly payment involved can still vary depending on the deposit that you would provide.
Cars $29,000 and below
You can also lease a car with a budget of about $29,000. With this amount, you can actually lease a vehicle such as the Toyota Prius. This vehicle is noted for its impressive fuel economy and spacious interior which is suitable for personal and family use. The common cost involved in leasing a Prius in 2010 is between $200 and $280 per month. The price however varies according to the credit score you own as well as the place where the vehicle is leased.
Cars above $40,000
In case you have a budget of $40,000 for leasing a car, you can actually lease a luxury vehicle such as the 2010 Porsche Carrera Cabriolet. This vehicle usually involves a lease price of $1,195 per month. Besides this, you can also lease a BMW 335is for an estimated cost of $659 per month on a 36-months lease term.
How to lease a brand new car
Car lease allows car buyers to pay lower monthly payments and interest rates. It also gives a car buyer the chance to purchase the vehicle in a relatively lower price. Leasing a brand new car is easy and can be accomplished using the steps below.
1. Contact dealers that offer car leasing
Select on where to lease the car from the available options. Search for dealers that offer lower car lease rates. Avoid revealing your plans to lease a car to dealers. This prevents your lack of information from showing up. Most car dealers take advantage of a client