Go green and save on your lease
Hybrid vehicles’ popularity has sharply grown from a couple of thousands
in early 2000 to close to 300, 000 by the end of 2005. The trend is
rapidly catching with the auto-leasing industry with generous tax credits
and incentives on offer if you go green.
Beginning in 2006, businesses and taxpayers who lease, or purchase, an
environmentally-friendly and fuel-efficient vehicle will be eligible to
claim federal income tax credits worth thousands of dollars. Individual
states also offer generous incentives, including hybrid state tax credits,
new High-Occupancy Vehicle (HOV) lanes access and discounted thruway tolls
for alternative-fuelled vehicles.
And that’s not all you can save from going green! You can now save on your
parking fees at a number of universities and some auto-insurance companies
are offering insurance discounts for hybrid-vehicle owners nationwide.
If you want to take advantage of these incentives and contribute to energy
conservation then visit HybridCenter.org and complete a personal profile
about your driving needs and habits. You will get in-depth advice on hybrid
models that would make economic sense to you and local, state and federal
incentives available where you live.
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admin on May 23rd 2009 in automotive
How to lease a new car?
Whether you lease a car to get into the latest models or have better purchasing
flexibility, getting a good deal is always bound to give you a lift. Use
these guidelines to help you spot one:
Check incentives: be on the look-out for factory -subsidized lease deals.
Car manufacturers realise that consumers who lease vehicles from them are
more likely to be repeat customers than those who simply purchase vehicles.
Through their leasing companies, they adjust the residual value and offer
low financing charge. Other auto-manufacturers are also starting to give
incentives on leasing, called leasing subventions. They offer these
subsidies to put slow-selling models on the street, saving you even more
money.
Set up a competitive: bidding environment to get the lowest price. If you
already have an idea in mind of the make, model and trim level of your
desired car, attempt to calculate your own lease payment before you go
shopping to avoid paying through the roof. Check online comparison tools or
use a lease calculator to check your lease payment based on purchase price.
This gives you greater negotiation leverage as you solicit quotes from
various leasing companies.
Make sure you know all the fees involved at the beginning of your lease:
you may have to pay fees for licenses, registration and title. Other fees
include acquisition fees, freight fees and local or state taxes. At
lease-end, you may have to pay a disposition fee and charges for extra
mileage and any excess wear. Be aware that some of these fees - like
acquisition and disposition fees - are negotiable.
Know your mileage needs: almost all leases limit the number of miles per
year by imposing typically 10 to 20 cents per excess mile over 15,000 miles
a year. If you are the kind of high-commuter who puts 40,000 miles a year
on his car, then you might end up running thousands of dollars in hefty
penalties at the end of your lease. Be smart and negotiate a higher-mileage
limit or pad you excess miles at the beginning of your lease to avoid
robber tax rates for excess miles.
Almost all leases limit the number of miles per year by imposing fees
typically 10 to 20 cents per mile over 15,000 miles per year. If you are
the kind of high-commuter who puts a lot miles on his car, then these costs
can add up quickly. Negotiate
Include GAP coverage: make sure your lease includes GAP coverage. This
covers you in the event of the vehicle getting wrecked, stolen or totalled.
Without GAP insurance, you leave yourself wide open to thousands of dollars
in leased obligations. Check if the GAP coverage is included so you don’t
pay it twice.
Related post
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admin on May 21st 2009 in automotive
