Leasing Still Misunderstood - Part III
In Part I and II, I discussed the concept of car leasing and how it works, using a simple example. Here, I'll discuss some of the common problems of leasing.
Nearly all the problems experienced by people who are leasing cars are the result of not understanding how leasing works. Some problems, however, are the result of unfortunate changes in personal health or finances.
Generally, car leasing problems fall into the following categories:
1) Customer was talked into a lease by car salesman because it offered the lower payments. Customer doesn't understand leasing and regrets the decision.
2) Customer wants/needs out of lease early and finds it problematic. Customer doesn't understand why and is looking for an easy and inexpensive way out.
3) Customer gets to end of lease and finds that they are over mileage and have excessive wear and damages. Customer wants to understand options.
Generally, these problems arise out of unwise or unfortunate circumstances and are not easily solved. Many of the problems could have been avoided in the following ways:
1) Understand how car leasing works (see www.LeaseGuide.com) BEFORE you make a decision to lease. Don't get your leasing advice from a friend or car salesman. Make sure that leasing is right for you and your life situation. Otherwise, don't lease, even if payments are lower.
2) If you want out of a lease early, know that it's not cheap or easy. It'll cost you. Therefore, decide if you REALLY want or need out of your lease. In nearly all cases, it's better to stick out the lease until the end. If you understand how leasing works, you know that leases are designed to be completed, not ended early.
3) If you get to the end of a lease and you are over mileage or have excessive wear, know that you can't cheat the lease. If you drove the miles and created the damage, you will pay, which is only fair. You could exercise your option to buy the car to avoid the charges, but the price you pay assumes that you're buying a vehicle with average miles and no damage. Either way, you pay.
Nearly all the problems experienced by people who are leasing cars are the result of not understanding how leasing works. Some problems, however, are the result of unfortunate changes in personal health or finances.
Generally, car leasing problems fall into the following categories:
1) Customer was talked into a lease by car salesman because it offered the lower payments. Customer doesn't understand leasing and regrets the decision.
2) Customer wants/needs out of lease early and finds it problematic. Customer doesn't understand why and is looking for an easy and inexpensive way out.
3) Customer gets to end of lease and finds that they are over mileage and have excessive wear and damages. Customer wants to understand options.
Generally, these problems arise out of unwise or unfortunate circumstances and are not easily solved. Many of the problems could have been avoided in the following ways:
1) Understand how car leasing works (see www.LeaseGuide.com) BEFORE you make a decision to lease. Don't get your leasing advice from a friend or car salesman. Make sure that leasing is right for you and your life situation. Otherwise, don't lease, even if payments are lower.
2) If you want out of a lease early, know that it's not cheap or easy. It'll cost you. Therefore, decide if you REALLY want or need out of your lease. In nearly all cases, it's better to stick out the lease until the end. If you understand how leasing works, you know that leases are designed to be completed, not ended early.
3) If you get to the end of a lease and you are over mileage or have excessive wear, know that you can't cheat the lease. If you drove the miles and created the damage, you will pay, which is only fair. You could exercise your option to buy the car to avoid the charges, but the price you pay assumes that you're buying a vehicle with average miles and no damage. Either way, you pay.
posted by Al Hearn at 9:45 PM
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