{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"CCC054: What You Need to Know About Auto Leasing","description":"Let's explain the dangers of auto leasing!\r\nJeff Bartlett, deputy automotive editor at Consumer Reports“If you asked me what is the most expensive way to get a car, the answer would be: You only want to own it during its period of greatest depreciation and then move to another new vehicle.” “Well, that’s what leasing is.”\r\nlease noun \\\u02c8l\u0113s\\: a legal agreement that lets someone use a car, house, etc., for a period of time in return for payment\r\nClick to Listen\r\n[powerpress]\r\nHow is the payment calculated?\r\n\r\nPurchase price - how much you pay, you should negotiate just as hard as if you were buying\r\nCost of money - interest rate\r\nLease term - number of months of the lease\r\nResidual value - estimated value of what the car will be worth at lease end\r\nSales tax - You will only pay taxes on the sum of your payments, which is the difference between the purchase price and residual value.\r\n\r\nWhat is the average lease payment?\r\nAvg auto loan in Q4 2013 $471Avg auto lease in Q4 2013 $420\r\nWhat are the gotchas with leasing?\r\n\r\nPaying too much upfront\r\nForgetting to buy gap insurance\r\nUnderestimating you miles driven\r\nNot maintaining the car\r\nLeasing for too long\r\n\r\nWhat types of auto leases are there?\r\nClosed-end Leases which are mostly consumer leasesOpen-end Leases\r\nOpen-end leases are primarily for commercial business leasing. \r\nHow do I know if I’m getting a good lease?\r\nLeasify - App to confirm you are getting the best lease. 99 cents.\r\nLeasify is a car lease advisor in your pocket. Leasify levels the automotive playing field by giving you the information you need to get the best deal on your new car lease.\r\n\r\n X-rays lease quotes to extract hidden fees and areas where you can improve your deal\r\n Serves as a financial decison-making tool with a sophisticated algorithm that generates a deal score\r\nDisplays what the dealer paid, as well as the average price paid, for any car in your zip code\r\n\r\nNext week, I'll be talking about how to get out of a lease if you find yourself in one and want out.\r\nGod Bless You!\r\nLinks:\r\nAuto Leases Entice, but They’re Still Costly: http:\/\/nyti.ms\/1wfmUju\r\nMerriam-Webster Online: http:\/\/www.merriam-webster.com\/dictionary\/lease\r\nTypes of Car Leases – Explained: http:\/\/www.leaseguide.com\/lease06\/\r\nLease Payment Formula Explained: http:\/\/www.leaseguide.com\/lease08\/\r\nCalculate Your Own Car Lease Payment: http:\/\/edmu.in\/1x8lzwr\r\n5 dumb car leasing mistakes to avoid: http:\/\/bit.ly\/1CdUwmq\r\nExperian Automotive report shows auto loans are still first choice in financing, but leasing has become more popular than ever: http:\/\/bit.ly\/1CtQW8k\r\nDepreciation Infographic: How Fast Does My New Car Lose Value?:  http:\/\/edmu.in\/WELal0\r\nLeasify App: https:\/\/itunes.apple.com\/US\/app\/id912884639\r\nDid you enjoy the show?\r\nIf you liked this episode, please consider going to iTunes and subscribing.\r\nOn iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review.\r\nHere is a link to subscribe or rate and review the show: http:\/\/cashcarconvert.com\/itunes\r\nAlternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert.\r\nWant to connect on Facebook? http:\/\/facebook.com\/cashcarconvert\r\nCheck out my new private Facebook community. http:\/\/cashcarconvert.com\/cccc\r\nWant to shoot me an e-mail? Click: james@cashcarconvert.com.\r\nLooking for something on Amazon? Please use my affiliate link: http:\/\/cashcarconvert.com\/amazon\r\nLooking for a back episode of the Cash Car Convert? Click: http:\/\/cashcarconvert.com\/cash-car-convert\/\r\nI’m also posting my audio podcasts on youtube. The first 15 episodes are up with the rest to follow. I’m looking at this as just one more platform to be found. http:\/\/cashcarconvert.com\/youtube\r\nDo you have a comment about this interview or about the podcast itself? Please leave a comment below.\r\nI appreciate every listener.\r\nThank you for listening to the Cash Car Convert show.","author_name":"Cash Car Convert","author_url":"http:\/\/www.cashcarconvert.com","html":"