Coronavirus and the Car Lease Market

The Coronavirus or COVID-19 has impacted the global economy in an unprecedented way and the impact has not exclude the car lease, lease takeover, or lease swaps market. Similar to most segments, this industry took a hit when the world went into lockdown in March 2020. But the industry adapted and is on its way to bouncing back. Read on to find out about the changes that were made by the dealers and financers, the short-term boom in lease swaps, and the projected market growth into 2021 and beyond.

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What to Look for in a Car Lease Takeover Inspection?

You’ve found your dream car and you’ve contacted the buyer who is very responsive and eager to pass the lease on. However, before you finalize the deal, it’s crucial that you inspect the car before taking over the lease to minimize any future costs on the vehicle and to ensure the vehicle has been well cared for by the current lessee.

Stay with us to go over the basics, which are always good reminders, followed by the more technical aspects of what you should be looking for.

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What is the 1% rule when it comes to leasing a car?

Have you ever wondered how to determine whether a car lease takeover is worth it at first glance? Or whether you are getting a good deal on a car lease transfer? Even if math isn’t your strong suit or you don’t have a calculator nearby, you can start with the 1% rule to get an idea of whether you should explore the lease option further. This rule does not require complex calculations of the interest rate, residual value, or value in use or such (although we recommend performing all of the calculations before making a decision), the 1% rule is simple.

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How Car Lease affected by COVID-19

These days every industry has affected by COVID-19 and same thing happened to the car lease industry as well.

For example, the number of searches in the Google and Bing are increased for affordable cars, or the number of searches are doubled for small-sized SUVs.

The other change is that people are more interested to get the details from the web site rather going to the dealers and visiting dealerships.

In the other hand, also I see some people who think they are going to work from home for a while are interested to find some one to take over the car lease they have. for example if a family has two cars and both are working from home why not finding someone to take over their lease contract.

My advise always is if you think you may need to get back your car soon, don’t go for finding someone to take over the lease. You may call your lease finance company to skip your payments.

Stay safe and hopefully we will back to normal life.

 

 

 

How much down payment to make the best deal for car lease

Down payment is one of those thigs people seem to end up neglecting when taking a new car lease. But this is one of those mistakes that you might want to avoid at any cost. Down Payment refers to that payment that you have to make upfront for the car lease. So, here are some things you might want to keep in mind about it to make the best decisions whenever it’s concerned with your car lease!

Also, keep in mind that this down payment Is generally made when initially leasing a car. When someone does a car lease transfer or a car lease takeover, it might or might not be part of your deal- depending on how the negotiations go.

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WHEN SHOULD YOU BUY YOUR LEASED CAR?

While the lease agreement will terminate in a few months for you, and you’re still wondering whether or not to buy your leased car, there are chances that you will make a hefty decision. To avoid such a tragic situation, you must think-out the whole process thoroughly to know what is best for you when it comes to leasing and buying.

Leasing can be a fiddly process and that is why it is important for you to have good knowledge about it. You agree to lease a car from a leasing company, pay monthly or quarterly instalments (depends on the mode the company offers), then in the end decide whether you want to buy the leased car, or just return it.

You could also consider car lease handover if you want to terminate your lease agreement before it actually terminates. You can handover your leased car to a person who is looking for leasing. This way both you and the other person can reduce the expenses.

But when returning or buying your leased car, you may be subjected to make a mistake provided the decision was not though-out well.

Consider the following reasons to make a wiser decision. Continue reading “WHEN SHOULD YOU BUY YOUR LEASED CAR?”

Which Car should I go for?

There are a whole lot of cars that are available for you out there. However, finding the right one might seem to be a hassle if you don’t know how to judge it properly. There are several things that you simply must keep in your mind when it comes to judging a specific car model.

Car leasing and lease takeover is actually a pretty simple process when you compare it to all the hassle of having to select the right car for you. In other words, you must decide which car to lease before you go out and lease it- and that’s what we are here to discuss today!

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Finance Vs. Lease Car: What’s Your Best Option?

Finance

Can’t wait to buy the car of your dreams? But have you considered everything there is to know about purchasing it? And now are you struggling to make your final call?
Well if any of these questions make you answer “yes”, then this article will guide you through everything you need to know about.
While buying a brand new car can be very alluring if you have the budget, it can also get quite overwhelming. Closing up to a hasty decision can cost you highly down the road (both literally and hypothetically).

For people with lower budgets, leasing a car should be a good option. A lower monthly rate for using a car would seem more ideal to many. The longer the lease, the lesser will be the monthly payment. And if you struggle to pay for the monthly payment, you could always consider car lease takeover.
Car lease takeover is an affordable way to get out of a car lease, or an affordable way to get a car by taking over the lease from a person who wants to end his lease agreement. It has many advantages that are stated below. Continue reading “Finance Vs. Lease Car: What’s Your Best Option?”

How to calculate a car lease payment

You may need to know how the car lease payment is calculated before you make a decision to finance, lease or lease take over a car.

When you lease a car, you pay to use a vehicle for a specific period of time. A leasing company buys the vehicle from your dealer before leasing it out the client.

There are some terms that we need to go through them before the calculation is made: Continue reading “How to calculate a car lease payment”