Category: Buy Sell

Selling your car hassle-free requires a perfect blend of marketing and advertising channels. To get the word across to the potential buyer is the deal of the game. It’s all about projecting the car’s appeal in a way to land a profitable sale.

Organise your documents

The most important of the preparation is to get your car’s documents in order. The level of transparency and order in the paperwork can break or make a deal. If your paperwork is clean, then you can even getinstant cash quotes.

Keep your legal pink slip ready, but don’t sign it until the deal is through. This is also called the title.  If your car is on loan, discuss and decide with the vender, on how you will settle the loan. Check with your Department of Motor Vehicles about the forms and formalities to complete before selling.

There are cases where the license plate might not go with the car. Check that out. Also, to have an extra edge over other sellers, you can provide a vehicle history report to your potential buyer.

Decide on a price

Do some research on how to price your car. The price should justify your car’s condition, mileage and external appearance. You can use Edmunds’ or Kelly Blue Book to fix a price for your car. Auckland Car Buyer, fortunately, helps you to avoid all these hassles and buy your car at the right price.

Used-car selling companies can decide on a lower selling price. It’s not the same with private sellers. So, your price will be higher. This is because your buyer will try haggling the price and then down to the price you actually intend for your car.

Increase your car’s appeal

First impression matters. Clean your windows. Clean off the brake dust. Put a layer of tire gloss over your tires.

Make sure the doors and slides are smooth. Also, check that your surface is polished to give it an extra glam. The whole point is to let the buyer feel that your car is the next best thing to a new one.

Put out catchy ads

Take good photographs of your car. This catches buyers’ attention, so that they end up reading about the make, year and mileage. Make good use of advertising sites online, like Craigslist, Autotrader, EBay Motors etc.

Meet your potential buyer

Give your potential buyer a first-hand feel of your vehicle. A test drive along the highway or the streets of your neighbourhood will increase your car’s selling potential. Sometimes, the buyers’ mechanic might be there for inspection. Accept it, to increase your chances of selling.

Seal the deal

Make sure you and the buyer are correct about the numbers. Decide if the payment is in cash or cheque. Sign and date the title. Provide your bill of sale and “release of liability” form to your buyer.

Conclusion

It is a bit tricky to make a sale of your used car, if it does not go through proper channels. With some good pre-planning, sell your car to the highest bidder and make plans to shop for a new car.

When you sign a car lease contract, it is pretty much same as getting married. If you decide someday to come out of it, it could prove to be a costly affair. Quitting a car lease early could mean hefty penalties and termination fees. Your car dealer would be trying to lessen the financial impact by recommending a new car in exchange for your current leased one. But that too, would be involving added penalties to the actual cost of the new car.

What Does Quitting a Car Lease Imply?

Quitting a car lease implies breaking an original agreement or contract that facilitated low payments over given number of years. The agreed low payments are actually made possible only in case the car lease is completed as per the agreed terms. Lease firms rely on their clients to stick to the agreement and complete the lease period as scheduled earlier.

It is however, to be noted that people wishing to quit their car leases early, should go through the early payoff or early termination clauses provided by the lease firms in their lease agreements or contracts. These details in the contract are pretty difficult to comprehend and it is not possible for you to calculate your remaining lease balance without seeking professional help.

In fact, clients are often taken aback by the high cost of quitting a car lease early as they are unaware of the reality and usually expect a small or negligible penalty fee.

Return the Car     

Car leasing is not the same as car renting. So you cannot just walk away by returning the car to the leasing firm. Leasing never operates that way and that is certainly not the way to quit an auto lease.

If you wish to terminate your car lease early, you may return the car, but additionally, you need to pay the leasing firm whatever amount you still owe and that could really be substantial.

You would be under the obligation of making all left over monthly payments, penalty fees for extra wear & tear, excess mileage fees etc. You are required to bear all the related financial obligations as a lessee quitting early. Even though you have returned your vehicle to the leasing firm, remember that the contract is still enforceable and you need to abide by it till the actual term is complete.

Leasing another Vehicle

You could consider quitting a current car lease by getting into a fresh lease on another car from your dealership. However, learn details regarding the car’s equity before you take the plunge.

The owed amount would comprise the car’s residual or remaining value, depreciation and the capitalized cost as well. The new car’s monthly payments could be incredibly high, if the car is said to have negative equity. You would then require paying the principal amount still owed by you from the earlier car plus all the expenses related to your new car.

Repossession

An effective way of quitting a car loan early is by stopping all sorts of payments or not meeting your financial obligations so that your dealership is forced to repossess the car. What could be the consequences of such a decision? You could enjoy a short-term advantage of getting away easily without making any payments or amount owed by you to the dealership. But keep in mind the long-term impact as a result of this. Your credit profile would be damaged and it would be more or less impossible to secure a car lease in the near future.

Buy Out the Auto Lease

You could think of buying out your car lease from the concerned dealership or finance firm. The lessee could be benefitted by this supposing the car’s actual market value has been projected more than the reality, by your car dealership.

This may happen on very rare occasions as most car dealerships can accurately estimate future vehicle values. Buying out might actually be very costly. The vehicle’s buyout price could be higher than the actual market price. This is a fact, in case you quit the car lease within the first couple of years of the contract.

Swapping Car Lease

You could quit a car lease early by transferring your lease to another person. The new lessee would have to make all the remaining payments. Lease swapping therefore, helps you to quit a lease without really worrying about the negative effect on your credit worthiness or credit profile.

Sometimes, you could transfer the lease to someone else if the dealership allows you to. The new party would then be responsible for making the pending payments. This is called lease swapping. You could walk away from the lease without any tension regarding the negative impact on your credit score or credit worthiness.

Automotive Annulment

Online vehicle lease trading provides unprecedented amount of freedom to the leaseholders. A lease agreement allowing vehicle transfers is quite similar to an automotive prenup. In such a case, it feels good to commit knowing that if you wish to quit, it would definitely not be a really painful parting.

Author Bio: Walter Smith is a freelance lease consultant. He enjoys blogging. He recommends http://leasequit.com/ for all your auto leasing solutions.