Car Detailing and Valeting : Getting Your Classic Car Ready For the Car Show

If you are one of the many classic car and hot rod enthusiasts, then you really want to get your car looking as if it just came out of the show room. However, you might want to consider the fact that the paint loses its luster as years go by and getting it repainted can be quite expensive.

Also, preserving the original paint in the classic car you have can add to its overall value. So, how to people do it when it comes to making the car look like brand new even if everything about it is as old as the car itself?

You have to remember that cleaning a car is not just about spraying it with water and wiping it with cloth. Today, professional car cleaning services is considered to be an art. There are quite a lot of things that are done in the car in order to make it look like brand new and just got out of the showroom.

If you want to make your classic car look like new, then you should get the services of professional car valeting and detailing experts. They will be able to know how to get the shine and the color depth of the paint in the car stand out and make it look like brand new. In fact, they will be able to do everything in their power and expertise to remove any contaminants that may have stuck on the paint of the car.

From grease, to tar, to squashed bugs, you will see that they will be able to remove it safely without damaging the paint. After removing the contaminants as well as traffic film, the next step is to wash it with water and applying wax. After that, they will polish it.

To remove tar and other objects that may have stuck on the paint, they will use a clay bar that contains small abrasives. These abrasives are so fine that it will not remove the original paint of the car. What it will do is remove anything that stuck on the paint, such as tar and over-paint.

They are not only experts in making the paint in the car look like brand new, but they will also be able to recondition the interior of the car with chemicals and other cleaners. For example, with the leathers, they will be able to apply chemicals to regain its once softness and. Professionals will be able to moisturize the leather and recondition it to make it look as if it has just been installed in the car.

The carpet will also be reconditioned as well as the chrome, mirrors and other parts of the car.

In fact, the engine will also be cleaned and detailed. They will remove grease and dust that may have accumulated and really show off the real engine. One that is clean and detailed.

These are the things that you might want to remember about auto valeting and detailing services.

As you can see, there are quite a lot of things that they will be able to do to your car. They know everything there is about cleaning the car that they will be able to make your car ready for car shows. As a classic car enthusiasts who wants to show of their car to the public, getting the services of car valeting and detailing professionals is indeed the way to go.

Kenwood Car Stereo Lets You Listen To The Future Of Car Audio

This brand is a household name for every car audio enthusiast. Mention the name Kenwood car stereo and they will know what you’re talking about.

Kenwood car stereos have produced high quality consumer electronics, test equipment and communication equipment since 1946. 

Kenwood car stereos primarily specialize in the design, engineering and manufacture of wireless communication infrastructure but are also renowned in the production consumer mobile and home entertainment systems.

Kenwood car stereos are also committed to creating the finest quality components with state of the art technologies that has earned them a huge following in the audio products scene.

At present, Kenwood car stereos have a very impressive product lineup that would make anyone drool over, whether he is an audio enthusiast or not. 

For the regular Joe who isn’t really into technical stuff, and is just looking for something nice to put into his ride, Kenwood car stereos offer sleek designs that will surely satisfy anyone’s craving for aesthetic. Tech-freaks and geeks will also be impressed with the specs a Kenwood car stereo has. 


A lot of Kenwood car stereo units nowadays include popup LCD panels for watching VCD/DVD movies. The Kenwood KVT-717DVD 7.0” Wide, Fully Motorized In-dash Monitor DVD/WMA/MP3 Receiver is a good candidate for any situation.

• 7.0 inch Wide Color TFT Active Matrix Display

• Full-automatic Open/Close with slide and angle adjustments
 

• Interactive Touchscreen Control with OSD
 

• Audio Easy Control Mode while Playing Visual Source
 

• Selectable Wall Paper (6 Patterns)
 

• Installer/Backup Memory of Audio/Video Setup
 

• Maximum Output Power : 50W x 4 (MOSFET Power IC)
 

• 3 Preouts with 5V Pre-out Level
 

• 2 RCA AV Inputs / 1 RCA AV Output
 

• Video Input for Rear View Camera
 

• RGB Input for Navigation System
 

• System Q/ System E's+
 

• DVD Menu Direct Touch screen Control
 

• MPEG 1/2 Video files (.mpg) and JPEG files (.jpg) Playback
 

• Dual Zone Source & Volume Control
 

• DVD±R/RW Compatible
 

• External Media Control — iPod Ready
 

• Optional TV Tuner

For those who might not get what the hell all of these means, just imagine this: a really thin monitor panel that smoothly retracts and extends at the push of a remote, crystal clear movie and picture playback, all encased in a beautiful black matte finish polymer casing done with a space age design.

If all you want is a just a regular car stereo for playing CDs’, listening to mp3s or the radio, Kenwood car stereo have a lot to choose from. A good head unit would be the KDC-MP928 AAC/WMA/MP3/ CD Receiver with External Media Control.

• Auto-Slide Detachable Faceplate
 

• Rotary Encoder & Jog Control Knob for Easy Operation
 

• 4096 Color OEL Display
 

• Display Customize Function
 

• Maximum Output Power : 50W x 4 (MOSFET Power IC)
 

• ACDrive (Advanced Codec Drive)
 

• AAC/WMA/MP3 Playback
 

• G-Analyzer (Graphic Motion Analyzer)
 

• Built-in DSP : DTA/System Q(4band P-EQ)/Digital E's/SRS
 

WOW Digital Effect
 

• O.D.D. (Offset Dual Differential) D/A System for Sound Quality
 

• Installer/User/Backup Memory of Audio Setup
 

• SIRIUS Satellite Radio Ready
 

• HD Radio Ready
 

• External Media Control — iPod Ready
 

• Dual Zone Source & Volume Control
 

• AUX Input
 

• Gold Plated 3 Preouts with 5V Pre-output Level

The Kenwood car stereo auto slide detachable faceplate allows you to take the faceplate (one which has all the buttons) in order to prevent theft by taking away the functionality of the unit left in the car.


    

Budget Bass : Discount Car Stereo

Dying to satisfy that craving for that boom bass but can’t make the budget? Can’t sleep ‘cuz of that new Clarion head unit? Look no further, you just need to find that discount car stereo to fulfill your car audio needs.

Well, there are probably only two instances where a need for a discount car stereo will come in. These two instances always entail lack of a financial comfort zone (that’s why we call them discount car stereos).

First instance, you don’t have an audio system in your car, and you would like to install one. Following the premise we have above, you’re most probably a car owner who doesn’t have enough cash to spend on a new, top of the line system.      

What to do: How do you get a discount car stereo? One way is to go to a car stereo sale. Still, you have to deal with store prices, they’re cheap, but not that cheap. Another is to scour the classifieds and buy and sell for second-hand items. 

These are real discount car stereos, but you have to have a sharp eye to recognize which is a good deal and which is a swindle. Ask the seller how many years he had it, in what car. Inspect the car where it is installed. If it’s still installed on the car, give it a go. If it’s just a head unit, or a speaker that isn’t installed, just be careful. Research the model of the discount car stereo you’re planning to buy, also find reviews.

Second instance: You already have a car stereo system installed, but you would like to upgrade it. Again, most probably you’re just searching for a discount car stereo/discount car stereo system not far from what you have. Maybe something with higher wattage, or a head unit which can play mp3s?
 

And again, try searching at sales. Take advantage of classifieds, buy and sells, second hands, and also swaps. Chances are, if you’re a car audio enthusiast, someone in your circle currently has a better system than yours and maybe willing to sell it to you. 

No need for standard pricing here. Or if others have equivalent items which they might be willing to swap, like a head unit for an amplifier, or a nice set of tweeters for a cd changer (i highly doubt it) or your pedigreed pitbull for the whole shebang! You’ll get more discount car stereos if you have a circle of friends/people who share the same interest.         

Other tips which might help: Another way to get a discount car stereo is to SUBSTITUTE. Like cars, Japanese made units are often cheaper than German/European/American made units. Also, look at the basics. What is it that you need, as in the most BASIC FEATURES? 

Do you really need that mesmerizing LED display, or can you do without it? Goes for speakers too. If you’re not going to enter a car audio competition and you just want to hear good treble and bass levels without making your speakers croak, maybe you can do away with a couple of 3way/4 way speakers. A big subwoofer will definitely need an amplifier, and those are already 2 things to buy.

Discount car stereos are always a good deal, you just have to know where to get one. 

Pimp Up Yo’ Ride ! Why You Need A Good Car Stereo System

You’ve got a nice pearled paint job. You’ve got your 18’ sized chrome mags. You’ve got an interior job that looks like a dream. But all of that would be superficial if you don’t have a good car stereo system in your ride.   

A good car stereo system is a marvel to experience, just like a poorly constructed car stereo system is such a pity to look at. The price is a big factor, but not all expensive hardware perform well if installed haphazardly, or if hooked up with incompatible hardware. 

It is also subjective, just as some of us find black cars more appealing than other color cars. If you like your car stereo system more than any other in the same vehicle, then you have the best.

If you like some other car stereo system more than yours in the same vehicle, then that one is better. Only you can decide which is best for you. For a car stereo system to be a good or great, it must first meet or exceed the user's expectations.

The type of vehicle also plays a major part in what kind car stereo system you should build. For some people, after only being in a few vehicles their ears recognize the inherent characteristics of this unique environment. 

Most of what we hear in a vehicle is a recording of the original artist in a given environment, usually in two channel stereo which can be playing in a totally different environment with the listeners placed in awkward listening positions relative to the placement of speakers. A great car stereo system is created with the understanding of acoustics, basic electronics, and the different products that are to be used.

A good idea is to gain references to compare to your auto audio system or any other and experience it live in as many different environments as possible. One of the best ways to accomplish this is to go to expos’ and conventions. 

As you hop from exhibit to exhibit you'll immediately notice the difference in sound characteristics of each setup. You will find some car stereo systems that you prefer over others, if not a favorite and that is the way to choose a cheap car stereo system that you like. Also ask for specs, they’ll gladly give it to you.  

The benefits of aftermarket speakers are: they have a larger frequency response (more music coming through the car stereo speakers), more power handling capabilities, they will brighten your highs and increase your auto audio system bass. There are two types of CAR speakers available: the dual cone and the two way. A dual cone has a small paper cone built into a larger paper cone.

Amplifiers are the backbone of your car stereo system. Weak amplifiers damage good car stereo speakers, not the other way around. Amplifiers provides musical power and contributes greatly to the elimination of distortion and the upgrade of sound clarity. 

The size of the amplifiers will be proportionate to the level of power you want. You can tell a good power amp by turning the auto stereo system above half volume and still hearing clear amplification. Bear in mind that the more power you have the better control you have over your system.
 
A good car stereo system is something to show for. It can bring satisfaction to you, the owner, and to those who will witness it. It will also raise the quality and value of your car in case you wish to resell it.
 
 

Using Lease Calculators

Want to calculate your monthly lease payment? Consider using a lease calculator

If you are considering a car lease, then you might want to know some key figures involved in the deal: the monthly lease payments, the overall cost of the lease and how much savings can be made compared to purchasing the vehicle.

A lease calculator relieves you from the stress of having to know the complex underlying lease formulae used in calculations. You simply plug a number of figures into the calculator and hey presto! You get a detailed rundown of detailed payments, taxes and total lease costs.
 
Figures you need to get from your dealer about a specific lease you’re interested in include: capitalized cost, estimated residual value at the end of the lease, the number of months in your lease and the money factor. 

Make assumptions and change some of the figures to see how it affects your lease payments. For instance, residual value is an “estimated” value of what the vehicle will be worth at the end of the lease. You can input different estimates to cover different scenarios and assumptions.

As a final note of caution, bear in mind that lease calculators only do calculations and check the accuracy of abstract mathematical formulae. They do not tell you whether a lease is good or bad. 

The Residual Value of Leasing

If you are in the market to lease a vehicle, you will hear the term “residual value” recur like a leitmotif. A residual value does not only affect your monthly payments, but is equally used by leasing companies to determine any penalties should you break your lease early and how much to pay if you decided to buy the vehicle at the end of your lease.

Let us first start by looking at the meaning of residual value. The term “residual value”, refers to the value of something after it has been used for some time. In leasing lingo, it refers to the depreciation of the vehicle’s value over the life of its lease.

So how does it exactly affect your monthly payments? When you lease a car, you pay for the car’s value that you use over the lease length. Suppose you leased an $18,000 car for 2 years: the leasing company needs to estimate the value of this car in two years time in order to know how much of the car you will be using during your lease term. 

That’s where the “residual value” comes into the equation. If the residual value is estimated to be $13,000 at the end of your lease, then your monthly payments will be calculated on the $5,000 you will use over 24 months, giving an average monthly payment of $208.3 (plus interest, tax and fees). 

How about if the car is expected to lose half its value over the same period? In this scenario, you will be using $9,000 over the same period, leaving you with a higher monthly payment of $375 (plus interest, tax and fees).

As you can see, residual values are a key factor in determining how much money to pay on your lease and the higher the residual value, the lower your monthly fees. This works in reverse if you build a bond with your car and decide to purchase it at the end of your lease. 

If we stick with the same example above, the lower monthly payments in the second scenario come at the cost of paying substantially more to buy your car at the end of the lease.

So, since the residual value is so important, how do I know which one is best for me? Well, it all depends whether you want to purchase the car at the end of your lease. If you don’t want to make a large down payment and you want low monthly payments, then a car that holds with a higher residual value is a good deal. 

If you are thinking of purchasing the car at lease-end, then you need to balance low-monthly payments with a moderate residual value.

Single-Payment Lease

A prepaid lease is a new type of lease which has made its foray into the market in recent times. In this lease, consumers forego the cycle of lease payments if they make a large payment at the beginning of the lease.

There are two amounts in a conventional lease that incur charges and determine your monthly lease payments. First, there is a depreciation charge which accounts for the value the car loses during the lease term. 

Second is a residual amount which is the projected value of the vehicle at the end of the lease. The sum of these two charges gives the monthly payments on your lease.

The idea behind a pre-paid lease is to eliminate the finance charges for depreciation and only account for residual value charges in a single, pre-paid payment at the beginning of the lease.

Single-payment leases are devised with spendthrifts in mind: no cycle of monthly payments, a new car every two to three years and no interest in purchasing the vehicle at the end of the lease.

You should only consider this type of lease if you are concerned about not being able to make monthly payments and have a lot of cash upfront.

Luxury Cars and Resale Values

When it comes to ultra-luxury, high-end vehicle leasing, there is no doubt that the best deals are those cars that hold their value. With this in mind, we single out a few truths about residual values that consistently apply to high-end leasing.

The most determining factor when it comes to resale values is public perception of the brand, not its reliability ratings in quality surveys. Take the Jaguar for example: it is consistently rated as a quality car, but because of questionable reliability perception among the public, it takes a sharp dip in value at the end of its lease-term.

Higher-tech options and other cutting-edge features do not necessarily mean the car will fare better.  By the time your car is two years old, better and cheaper systems will render the laser-guided cruise control, navigation systems and built-in cell phone obsolete. Look for functional features, such as automatic transmissions, power windows and wheel-drive to enhance the vehicle’s value in the used-car market. 

Used-car buyers view less favorably luxury vehicles that come with big incentives. These are perceived as questionable in quality and reliability.

Leasing with Bad Credit

Have you been refused a car lease? Chances are you have less flawed credit history. Know what’s involved and what you can do to build good credit history.

Credit score is a measure of your credit worthiness used by leasing agents to determine whether you are eligible for a lease. You credit score is based on your past and present credit history, and can range anywhere from 350 to 850.

  

A measure above 720 is considered a “prime score” and will land you the best rates. If you are below 640, then you are “sub-prime” and will be considered bad rating by the bulk of leasing agents. This is where all the trouble in getting that lease comes from.

 Ask for your FICO Credit Score from the Fair Isaac Corporation (FICO) which details your credit score held by all three leading credit score agencies in the country. Compare the three credit scores and determine if any agency is holding erroneous credit data about you.

Contact the reporting agency and getting corrected. If there are no mistakes in your credit report, then you can take some steps to maximise your score to go above the threshold of 640. Pay your bills on time and pay down any credit card debts you have. Do not take any new accounts as this might increase the likelihood of you getting into bad credit thus worsening your credit score.

Leasing Used Cars Explained

Leasing a used vehicle can be an attractive deal in many ways, no least getting you into that luxury model or SUV, for lower monthly payments than a brand new one. Be prepared, however, to do some more homework to dissect a good deal.

As with new car-leasing, your price research should focus on the key figures that are the initial market value and the estimated residual value of the used car. This is harder to predict since there is no factory-set sticker price on used cars, and the residual percentage is very much pegged to a subjective current retail value. 

Use different sources to get a rough idea of the value of the used car: your local dealerships, internet car-evaluating tools, such as Edmunds and Cars, to name but a few. Another way to pin down a good estimate is to compare the lease on your given car to a lease on a new-car with the same make and model. 

This should give you a better picture of the difference between leasing new and going for used. Just like leasing a new car, used vehicle leasing is more attractive when residual values depreciate the least. You stand a better chance of finding a bargain in the high-end, luxury vehicles that keep their values better as used cars. 

Next, you need to check the initial mileage and the overall vehicle condition. The maximum mileage on a used car should be no more than 12,000 miles a year. A 3-years old car with 50,000 miles on the clock is very unlikely to make a good used-vehicle lease. 

Check for signs of excessive use, like worn seat fabric, worn pedal pads and dirty engine, which might indicate that the odometer has been rolled back. If the car is not certified, you need to get it thoroughly inspected. Ask your dealer for a manufacturer-sponsored certification program or have your car certified by a qualified mechanic or inspection service.

Most used-car deals don’t come with gap coverage. This is a special type of coverage, normally offered on a new auto-lease, to cover the consumer if the leased vehicle is lost, stolen or damaged. Typically, auto-insurance policies cover only what your car is worth at the time of loss, not what you still owe on the lease. 

The difference could run into thousands of dollars. For peace of mind, do not enter into any used-car lease without gap-coverage. Arrange it separately with either the lease dealer or your auto-insurance company.

Leasing Glossary

In order to get a good leasing deal, you need to understand leasing jargon. Read through this leasing glossary to get an overview of the basics:

Acquisition fee:

A fee charged by a leasing company to begin a lease. Not all leasing companies charge an acquisition fee but if charge it starts at about $300 and is seldom negotiable.

Capitalised cost: 

The total selling price of the leased vehicle This also accounts for taxes, title, license fees, acquisition fee and any optional insurance and warranty items you elect to fold into the lease and pay overtime rather  than upfront.

Depreciation fee: 

Forms part of the monthly lease payment charge and accounts for the loss in the value of the car at the end of the lease. The vehicle’s list price minus the expected residual value at lease end is divided by the number of months in the lease to give the depreciation fee. 

Suppose you decide to lease a vehicle with a retail price of $23,500. The leasing company estimates that after a three year lease, the vehicle will be worth 35% of its original retail value, or $8,225. The difference, $15,275, divided by the number of months in the lease, 36 months, gives us the depreciation fee ($424)

GAP insurance Pays off the lease balanced if the vehicle is wrecked, stolen or totalled.

Inception fees any fees that are due at the beginning of a lease. These typically include a security deposit, acquisition fee, first monthly payment, taxes and title fees.

Mileage allowance The maximum number of miles a leased vehicle can be driven a year without incurring an excess mileage penalty. A typical mileage allowance is 12,000 to 15,000 miles a year, although this is negotiable with your leasing company.

Mileage charges a penalty that you incur if you exceed your mileage allowance on a leased vehicle. Typical mileage charges are 10 to 20 cents per excess mile.

Money-factor A fractional number, such as 0.00043, used in calculating your monthly lease payments. You can get a rough estimate of the annual percentage rate on your lease by multiplying the money factor by 2,400. If a dealer quotes a money factor such as 3.4 than you can get the equivalent APR, 8.16, if you multiply by 2.4.

Residual value Residual value is the amount of money the leasing company says your leased vehicle will be worth when your lease ends. Higher residual values lead to lower monthly payments but higher lease-end purchase cost if you decide to keep the vehicle.

Security deposits an up-front amount that your leasing company required at the beginning of a lease to safeguard against non-payment. This is generally refundable at the end of your lease.

Termination or Disposition fee The amount you have to pay the leasing company at the end of your lease if you decide not to purchase the vehicle.

Wear-and-tear charges Extra charges you have to pay at the end of your lease for any wear and use the leasing company considers above normal

Leasing and Your Credit Score

Your credit score is part of the leasing decision. When you apply for a lease, your lease company will typically look at your credit score to decide whether you to approve the application.

The leasing contract stipulates that you make regular, monthly payments over your lease term. The credit score you lease company requests identifies how likely you are to make such payments. It is simply a number calculated according to a model that takes into account your payment history, any amounts you owe and credit currently in use.  

It is very important to keep a good credit-score, usually above 700, to qualify for a lease or any other lending decision. Start by ordering your credit report from Fair Isaac Corp, the company that creates your credit score. 

If erroneous data is held about you, then contact the creditor responsible and get such information corrected. Your payment history is the single most important factor in determining your credit score, so get in the habit of paying everything you owe on time and keep the balances low in your credit cards.

Lease Trading

Ever wanted to terminate your lease early, comfortable with the thought you weren’t going to be hit with hefty fees? You can if you transfer your lease to someone else.

Trading a lease is the best option for people who want to terminate a lease early and don’t want to pay the large termination imposed by most lease agents. 

It can also be an alternative to get out of a lease for far less than you would otherwise pay your original lease company for extra mileage and wear-and-tear charges that can run into the thousands of dollars. 

For a small fee, you can advertise your car lease for assumption to a large number of potential buyers on the look-out for leases on the Internet. Such services include LeaseTrader, the originator of online lease-trading and the biggest online marketplace where most lease transfers take place, and smaller marketplaces .

Before swapping your lease, make sure your leasing company approves lease transfer transactions. Caution must be exercised in choosing a lease swapping service: make sure they facilitate the whole lease transfer process, offer online or telephone customer-service help and registered buyers undergo stringent credit checks.

Lease Financing

For auto-consumers, crunching the numbers is one of the most difficult and confusing aspects of leasing.Take the finance charge on a lease for instance.

Most people just don’t understand how this is calculated on capitalised cost AND residual value instead of just the capitalised cost.

For most, it seems plainly obvious, just as is the case when purchasing, that a charge should be levied on the capitalised cost of the vehicle.

Well, no quite! When you lease a car, you’re only using the car over a specified period of time with the option of buying the car. The residual value represents the “loan balance” at the end of the lease.

If you add it to the capitalized cost and divide by two, you’ll get the average capitalized cost outstanding over the lease term.

Let us suppose you’re leasing a car with a capitalized cost of $25,000 and a residual value of  $15,000. You average balance over the lease term, irrespective of how long it is, is $20,000 – the sum of the two divided by two -.

Using this sum works because the money factor is the annual interest rate devided by 24, rather than 12. Continuing with our example and assuming an interest rate of 6% APR:

$30,000 X (6 per cent / 24) = $75

(Capitalized cost + residual value) X (interest rate / 24) = Monthly finance charge.

This finance charge is added to the depreciation charge to calculate the monthly payments on your lease.

Independent Car Lease Companies

To lease, you have two possible choices: either lease through a dealer’sfinance source or through an independent lease company. 

A conventional dealer has a captive finance source, which can be the car manufacturer’s financial company, such as BMW Financial Services, Honda  Motor Credit or General Motors Acceptance Corporation (GMAC), or a major national bank such as Chase Manhattan. 

 Independent lease companies are no financial obligation to any single one manufacturer financing source, but work with dealers anywhere in the country.

So which one is better?

Conventional dealers provide better lease-deals on limited-time promotions. Factory-subsidized cars that have subvented money factors and residuals are very attractive lease deals and can be very hard to beat anywhere else.

Independent lease companies can offer you unbiased and professional advice on vehicle selection regardless of make and model. This is because they are not tied to a single manufacturer or financing source, unlike conventional dealers who have to sell specific models. 

They can also be more flexible regarding negotiating lease terms like residual value and mileage. Ultimately, if you prefer a more personal and customer-oriented relationship with your leasing agent, then you will do well with an independent leasing company.

How to Spot a Good Car Lease ?

Leasing has been lauded as your cheapest ticket to keep up with the industry’s hottest vehicles and trends. The jury, however, is still out on leasing: with the industry long on hype and short on detail, it is difficult to distinguish between a genuinely good deal and a downright up-selling exercise.

So how do you spot a good deal?

First, you need to find out if there are any down payments on the lease. A down payment refers to the lump sum amount that you pay upfront, either in cash, non-cash credit or trading allowance, to reduce your monthly payment.

You should think twice before putting money down on a lease: not only are you getting a rough deal, as you’re essentially forfeiting the general rule of leasing:  not putting any cash upfront, but the money is not recoupable at the end of your lease. There is another big disadvantage: in the event of your car getting damaged or stolen, you insurance and the gap cost will not cover the loss.

Mileage Limit

Most leasing companies allow you a limit of 45,000 free miles over the length of a 3-year lease. This may seem like a good deal at first sight, but when you consider it only comes to 15,000 miles over a 12 month period it’s not difficult to foresee why it might be difficult to stay within this limit.

Even people working from home have little trouble putting 15,000 miles on their cars. If you exceed the mileage limit, the penalty for each excess mile can be as high as 20 cents. This can add up quickly over the length of your lease: an additional 4,000 miles a year over the length of a 3-years lease contract, will end up costing you an extra $2,400 in excess mileage charges!

Be realistic about your mileage needs, especially if you have to regularly commute over long-distances, before you sign the contract. Consider padding the miles that you expect to use since it is less expensive to contract for the extra before you sign than it is to pay the extra charges at end of your lease.

Sales Tax

Sales tax is usually capitalized and added to the monthly payments. However, some dealers choose not to include it in their calculations to drive the advertised lease payments even lower. What they do instead is state in the small print that the monthly payment excludes “sales tax”. 

Make sure you carefully read the fine print for any extra, hidden costs not included in the advertised monthly payment. Unscrupulous fees that typically slip through the cracks include sales tax, registration and title fees. 

How to Get Out of a Lease Before Your Contract Expires ?

 

When your lease is up, you can simply turn in the keys and lease another car or buy a new one. But how about getting out before the lease ends? Maybe you can’t afford the sky-high payments on that silky Jaguar JX V6 model anymore or you’ve just had a baby and you need a larger and more spacious vehicle?

Unfortunately getting out of a lease is not as easy as getting in! A leasing contract is difficult and expensive to terminate early. Simply turning in the keys and walking away from a lease can result in stiff penalties. You credit could be ruined and you could even get sued for breach of contract.

It’s not all doom and gloom though. Actually, there is a number of options available to you. You can sell the car yourself and pay off the bank. This can be cost effective if the market value of the car is close to the buy-out number. 

Do not hesitate to exercise this option even at a loss if it happens to be lower than the termination fee. Your best option, though, is to transfer your lease for someone who would “assume it” and take it off your hands. There is a whole set of potential buyers looking for short-term leases without all the hassle and extra costs. 

Check with family and friends or use the services of lease-assumption websites, like swapalease.com, to list your car. Make sure you check the credit worthiness of the new lessee and provide the car in good condition.