Short Term Car Lease
|
A short term car lease is just the ticket for motorists who don't want to incur hefty termination fees or down payments. Lessees can assume existing rentals and ride in style for less. Many motorists opt to lease rather than purchase purely because of the savings and tax advantages. Purchasing a new car is an expensive proposition. The moment new owners sign on the dotted line and drive the car off the lot, its value depreciates significantly and high interest payments can stretch out over several years. By the time an owner finishes paying off a car loan, the vehicle is valued at a fourth of its purchase price and usually winds up costing two to three times the original sticker price! Savvy consumers are choosing to avoid plunking down cold hard cash and enduring years of agonizing monthly payments by simply assuming an existing short term car lease, usually for less than 12 months or up to two years.
The convenience and ease of terminating a short term car lease also appeals to individuals who may experience financial difficulties due to job loss or transfer, or any event which might negatively impact income. A busy executive may have enjoyed sporting a two-seater luxury coupe; but when the family starts to grow, it's time to terminate and think about more budget-friendly transportation. And with a lagging U.S. economy, other lessees committed to long term agreements are finding that car payments are a luxury that paycheck to paycheck living can't accommodate. Then there are those individuals for whom money is no problem, but keeping up appearances is a must. Successful business executives may want to terminate rentals early simply to trade up to newer models with more luxury appointments as they climb up the corporate ladder. Whatever the reason, short term leasing offers more cost savings and flexibility than purchasing or renting a vehicle for a longer period of time.
Standard long term agreements heavily penalize lessees who terminate agreements early. Financing companies may require immediate payment of remaining balances owed, which can amount to thousands of dollars, plus penalties and fees. Online lease assumption companies help lessees terminate longer agreements by posting advertisements for trades, assumptions, and exchanges on the Web. Interested parties can view makes and models, along with prices and terms from the comfort of a home or office PC. From luxury auto makers, such as Mercedes Benz, Lexus, and Lincoln, to family-friendly Fords, Toyotas, and Chevrolets, short term car lease websites offer a wide variety of vehicles priced just right for almost any budget. And the beauty of leasing for a shorter period of time is that the number of months left on the original agreement makes the payments amazingly affordable. Individuals who take over a short term car lease must agree to the same terms as the original maker, but are exempt from making a large down payment. Maintenance, mileage allowances, end-of-agreement buy-out options, and taxes still apply; and new lessees are required to purchase full coverage insurance. Just as those who assume leases take on the liability of the original owner, so did Jesus Christ willingly take on the liability of mankind's sin at Calvary's Cross. "But God commendeth His love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by His blood, we shall be saved from wrath through Him" (Romans 5:8-9).
Who is likely to assume a short term car lease? Any adult with proof of employment who meets leasing agents' qualifications is a prime candidate. From college students who want some nice wheels to commute to class and busy executives who need to make a good impression on potential clients, to senior adults who simply don't want to splurge retirement funds to drive a late model luxury auto, short term leasing appeals to a myriad of individuals. And the greatest advantage is the tax break leasing assumptions or trades offer to individuals and business owners. Payments are 100% tax deductible because owners don't own the vehicle. Sole proprietors and corporate executives can write off payments and realize a savings over purchasing automobiles, which can only be depreciated. At the end of the rental agreement, individuals may opt to continue leasing another newer vehicle or buy out existing autos for an additional fee.
In order to assume or terminate a short term car lease, consumers should browse the Internet for online agents specializing in transacting assumptions, transfers, or trades. Lessees should read the fine print in the original agreement to determine what penalties could possibly be incurred for early termination. Leasing exchange agencies will want to perform a vehicle inspection, calculate shipping and handling, and examine or arrange for extended service warranties. Online exchange agencies also offer financing services and prequalification for potential lessees. Motorists on the lookout for assumption opportunities can register and log onto websites to shop for vehicles from around the world. Lessees seeking to sell a short term car lease can find a ready market for buyers to help take the burden of remaining payments. Both parties can use online services to compare options, such as initial fees and payments required to assume; transfer or trade leases; mileage allowances; buy-out options; fees for damages and repairs in and out of warranty; and auto financing options. Once buyers and sellers find the right vehicle at the right price, arrangements can be made for shipment. The original lessee is free of obligation and the new lessee is free to ride in style, enjoying a late model vehicle with low to moderate payments.
|
|
|
|
