Unfortunately
leasing is not as good a deal as it seems. And sizing up a lease
deal, is more difficult than negotiating to buy a car, mainly because
all the figures you'll need to make an informed decision, may not be
disclosed. Ralph Nader says "leasing firms are gouging consumers an
average of $2000.00 per car. The law hasn't kept up." As a result he
said," leasing contracts are almost impossible for consumers to
understand, don't reveal costs, and are loaded with meticulously planed
overcharges and gouges." Buying or financing a car is still the
best choice. Remember that leasing is just a long term rental arrangement,
at the end, you own nothing at all. What's more, leasing carries
risks. If you can't stick with the full term, bailing out early
could cost you a stiff penalty. |
And in many
states, lease cars aren't covered by "Lemon Laws." Also, if
the car gets stolen, your insurer will only pay you the car's market
value, which in many cases will not cover what is due on the lease.
So you will have to pay the lease company the extra, which could
be substantial, or you can buy special insurance, called "Gap Insurance,"
to cover the extra expense. Other costs associated with leasing are:
(1). Excessive wear and tear charge.
(2). Excessive mileage charge.
(3). Lease transaction fee.
In the long run, buying a car, rather than
leasing, is still the most economical choice.
|
|
Sam Giammalvo's
"The place where buying
a car is a pleasant experience"
We offer Good
Value for your Dollar, and we employ
ASE Certified Technicians.
We give you Straight
answers about your car.
We are completely dedicated to Service
Excellence.
We are EASY
to deal with. |
