Understanding Online Lease Ads

Understanding Online Lease Ads

by John Koehler Comment Closed
**This post contains affiliate links and the publisher may be compensated if you make a purchase after clicking on these links.**   Do you have any idea what the easiest part of leasing is?  The answer, to the detriment of the unprepared consumer, is advertising the lease deal!  Think about the lease deals you've seen advertised before -  on TV, in newspapers or other print, or even on billboards: all of them focus on just three numbers (in this order): The monthly payment The number of months The amount due at signing / down payment amount The advertisers then breeze through the other legally required details as quickly, or in as small of font, as their lawyers will let them.  Comparatively, advertising a vehicle for purchase either needs to focus on the full purchase price, which is tens of thousands of dollars, or try futilely to advertise a single monthly payment for consumers with thousands of unique credit and down payment situations.  So...
Read More

Leasing vs. The Most Powerful Force in the Universe

by John Koehler Comment Closed
**This post contains affiliate links and the publisher may be compensated if you make a purchase after clicking on these links.** Albert Einstein reportedly said compound interest is the most powerful force in the universe.  Of course, the earliest known written report of this statement was about 30 years after he died, so he wasn't in position to confirm or dispute saying it.  But given the genius of the statement, we hope Mr. Einstein would appreciate it being attributed to him. To understand why Einstein, or any genius, may utter this statement it may help to review the difference between compound interest and simple interest.  Simple interest is where the interest that accrues doesn't get added to the principal to determine the next period's interest accrual.  Basic example: the bank offers a deal where you deposit $1,000 on January 2nd and must come back each week and collect $1.  The principal never increases about $1,000, but at the end of the year you...
Read More

Leasing an “Old” New Car

by John Koehler Comment Closed
Is is Worth Leasing an "Old" New Car? **This post contains affiliate links and the publisher may be compensated if you make a purchase after clicking on these links.**   As we reach mid-June there are still more 2016 vehicles listed as new cars for sale than there are 2018 vehicles listed for sale.  Overall, there are about 103,000 new 2016 vehicles listed for sale nationwide, which is about 4% of the total new car inventory currently listed for sale*. All of these cars will eventually be sold, it's just a matter of when and at what price.  Lease Wizard doesn’t recommend for or against considering these vehicles for lease (or purchase) versus more conventional new cars – those with a 2017 or 2018 model year, but instead here are some things to consider that can help you make an informed choice: At some point in each year a manufacturer usually cuts off incentive support for these “old” new cars – the ones with...
Read More