You’ve come to the end of your lease and you like you car enough you want
to keep it in the driveway. Just like buying a used car, there is some
research to be done to nail a good deal.
First, you need to know the cost of buying out your lease. Read the fine
print of your contract and look for the “purchase option price”. This
price is set by the leasing company and usually comprises the residual
value of the car at the end of the lease plus a purchase-option fee
ranging from $300 to $500. When you signed on the dotted line, your
monthly payments were calculated as the difference between the vehicle’s
sticker price and its estimated value at the end of the lease, plus a
monthly financing fee. This estimated price of the car value at the end
of the lease is what is termed in leasing jargon “residual value”. It is
the expected depreciation – or loss in value – of the vehicle over the
scheduled-lease period. For example, a car with a sticker price of
$40,000 and a 50% residual percentage will have an estimated $20,000
value at lease end.
Now that you know the cost of buying out your lease, you need to determine
the actual value, also termed “market value”, of your vehicle. So, how
much does your car retail for in the market? To pin down a good, solid
estimate you need to do some pricing research. Check the price of the
vehicle, with similar mileage and condition, with different dealers. Use
online pricing websites, such as Cars.com, Edmunds.com and Kelly Blue Book
for detailed pricing information. Gleaning pricing information from various
sources should give you a fair estimate of your vehicle’s retail value.
All you have to do now is compare the two amounts. If the residual value is
lower than the actual retail value, than you’re into a winner.
Unfortunately, there is a good chance a car coming off a lease is a little
on the high side.
Don’t despair though. Leasing companies know as much that residual values
on their vehicles are greater than their market value and as such are
always on the look out for offers. You can knock down on the price of your
leased vehicle with some smooth negotiating tactics. Put forward a price
that is below your actual target and negotiate hard until you wind up near
Originally posted 2008-10-03 03:00:04. Go Home page
If your car needs repairs then chances are that you have taken it to one of the main auto repair shops around your city or state before. In fact, there are probably more auto repair shops in one city than their are auto parts stores. This is all par for the course, however, if one needs to make their own car repairs or wants to, auto parts definitely need to be found. If you are having a hard time trying to find the auto parts that you need then there should be plenty of stores in your area that will allow you to get the repairs that need to be done on your car. Here are some suggestions of retail stores to try if you are trying to find some auto parts :
The NAPA store has long been a popular auto parts store that peoplehave been able to visit in order to buy the auto parts that they need. There are plenty of these types of stores around. In fact, this is a chain auto parts store that is located not only in each State, but also outside of the United States as well. While at NAPA, one is able to get the exact auto parts that is needed in order to make the repairs to an automobile. Furthermore, the NAPA Company also has auto repair shops sprinkled throughout the country as well. For example, there is a NAPA AutoCare Center, NAPA Collision Center, as well as a NAPA Truck Center. There is usually a NAPA auto parts store wherever there is a NAPAstore of any kind, but one cal always call just in case. Furthermore, NAPA also has an online store where one can purchase auto parts from them and have them shipped immediately through a UPS service.
Another chain auto parts store that is very popular is AutoZone. AutoZone is also a store that has an auto parts retail store in virtually every place around the United States, but they do differ from NAPA in a slightly different way. Whereas NAPA traditionally stocks auto parts for many cars and that’s about it, AutoZone has a whole selection of other different automobile products in their stores. For example, self-contained batteries can be purchased, heavy-duty flashlights, along with a whole plethora of other products made for automobiles. AutoZone is one of those household names that is always spoken of and can be trusted to obtain the correct and best auto parts from.
Auto Repair Shops
One place that you may not have thought to ask is an auto repair shop. Believe it or not, auto repair shops do have connections when they want to purchase auto parts for various repair projects.
Originally posted 2009-11-26 20:19:31. Go Home page