0 Interest Car Financing

Is 0 Finance on New Cars Better Than Leasing?

What's not to like about 0 Finance On New Cars?  If there is one thing I like better than a super low, sub-vented car lease payment, it's 0 Finance on New Cars.
These loans are not really loans at all because you don't pay one dime of interest on 0 Finance on New Cars. It's even better when No Interest Car Loans go for 60 and 72 month terms. The way I look at is like this: If I can borrow $20, $30, $40 or $50K or more, free of interest for 5 or 6 years to get the car I want, I'd be crazy to finance a car any other way. Paying Cash For a New Car is one other way to avoid interest charges, but how many years will it take you to recoup the cash you laid out for the car?  For most of us, paying cash for a car is not a viable option. While I still believe that car leasing is the most affordable way to finance and drive new cars, there are times when it makes a great deal of sense to buy, particularly when you can find 0 finance on new cars. Last year, I featured some of the top 0% APR Car Loan Offers from Toyota, Honda, Ford and GM. We dearly hoped that we would see more of these 0-finance-on-new-cars offers this year. I'm pleased to say that these great No-Interest-No-Money-Down Car Financing Offers are still just as popular as ever. Read the rest of this entry

2011 Hyundai Sonata

Can you Lease the Fastest Car for the Money?

How much Horsepower are you getting for your monthly lease payment? Or asked another way, How much are you paying per Horsepower?  Are you getting the fastest car for the money? While we typically think of car financing as a practical matter, there are other reasons to buy and lease cars other than simply trying to save on gas or get the most practical family sedan for our monthly payment. For good reason, we are practical with car leasing. Our most common goal in leasing cars usually includes a combination of factors that we hope can meet our practical expectations: Saving money at the pump; helping us navigate roads; hauling a large family on road trips and short urban excursions; and/ or providing some additional prestige and luxury value while driving clients to lunch; all in the name of getting it at a practical low cost. Thus, we lease cars. One goal of a car, though, that often gets overlooked by snobby financing experts, is performance. Nobody would confuse a Corvette, Camaro or Mustang for being a sound financial decision, even if one happens to be the fastest car for the money. On the other hand, performance is a quality that any driver appreciates; whether it is for the thrill of going from 0-to-60 in 4.8 seconds, hauling lumber... or for that extra confidence derived from having the engine power to pass a semi going 65MPH on a two lane highway, performance is a quality that should be considered by us all. In fact, horsepower, like any other attribute, is a matter of practicality depending on the driver's needs and desires. Monthly Car Lease ranks cars each month based on their overall value to payment ratio. We've also ranked car leases on gas mileage and economy. There is also a place in the heart, desires and needs of car drivers for speed and horsepower, so why not rate the top performers based on value of payment? Here, is what we mean by fastest car for the money. Read the rest of this entry

Gas mileage ratings are here: New Car Leasing is not just about driving nice cars, but saving money. Gas prices are going up again, leaving many of us wondering if we really need the power of that V6 or the hauling and utility features of that SUV that only gets 18MPG on the highway. Compare 18MPG to the 50MPG that you can get with a Toyota Prius or the 43MPG you'll get with a Honda Insight. Wait! Before you go out and spend your hard earned money on a new Prius, have you really calculated the amount of money you'll save on gas vs. the extra coin it costs to buy a hybrid or energy efficient vehicle? Are Hybrid Vehicles worth the Extra Monthly Payment when it comes to new car leasing? Not always - and here's why:

Gas Mileage Ratings Formula

Gas Savings Calculated

I love using spreadsheet numbers to illustrate hard cold facts that might otherwise be ignored. I thought it would be interesting to calculate whether or not the most gas efficient vehicles translate to a lower monthly expenditure, overall. When it comes to new car leasing, I guess I was not overly surprised to learn that it's not true. In most cases, you can't save money by paying more for a vehicle that produces better MPG. In fact, most of the time, you will get far less vehicle for your money, for very little gains in overall savings. While it's true, Prius, Volt and Leaf drivers may pay less at the pump, they paid a far great amount of coin to get that vehicle than they would have paid for a vehicle that provides better performance for a lower monthly lease payment. The Prius has impressive technology if you enjoy fuel economy and electrical charging statistics. Other than that, a Toyota Prius provides about as much driving thrill as your father's Chrysler K-Car. Like the Prius, the K-Car was also inspired by energy and fuel concerns. So, there you have it. NFC's (No Fun Cars), have been around since the late 1970's. Read the rest of this entry

Handing Over a Car Lease

Getting out of a car lease is an important Part of New Car Leasing. Between 1 and 2 months before your Car Lease has expired, it is a good idea to consider what your options are. Unbeknown to the numerous car lease skeptics out there, you have a number of choices at your disposal when getting out of a car lease. You will certainly want to end the lease in a way that best suits your financial considerations and future need for a new or used car. Below, are the typical options for getting out of a car lease.

Getting Out of a Car Lease

Turn the Car Back In

This is the most straightforward approach to getting out of a car lease. The way you turn your car in varies only slightly among Car Financing companies. In the last few years that I've leased from GM, Ford, Honda, Toyota, Hyundai and Subaru. The procedure for getting out of a car lease works like this: Call your leasing company or bank and tell them you are turning the call in. They will usually have an inspector come out to your home or office to inspect the condition of the car for any unreasonable wear or tear. After that, they will have you sign something that shows what they did or did not find in the way of excess damages. In my case, there was never anything to worry about here. From there, you will take the car down to your nearest car dealer. Make sure you take your license plates and any personal belongings out of the car. The dealer will usually check the odometer, take the keys from you and you're good to go. The last step is to call your leasing or finance company and tell them where you left the car. If your lease included a termination fee or deposit, you will get a final bill in the mail, along with any excess mileage or damage costs. I've never had to worry about excess damage or mileage.  In fact, I've never really dreaded getting out of a car lease. In fact, getting out of a car lease, is pretty straight forward as far as damage is concerned. Usually, anything smaller than a quarter-sized dent is allowed. As I am about to turn in a 2009 Subaru Legacy, I can tell you that they do things slightly differently: Read the rest of this entry