No matter where you’re at in life, obtaining and maintaining a car is a big commitment. Retirement, though, brings its own special considerations – and changes.
If you haven’t heard, the United Auto Workers (UAW) union went on strike September 15. To read more about the strike, check out this page or just Google “UAW strike” – there’s a lot about it out there. Here, we’ll stick to what we do best and cover how this affects the car market and, most importantly, how it could affect you.
If you’re leasing a car right now, this advice is for you. (If you’re not, welcome anyways.)
In a recent survey conducted through a third-party, Lease End found that only 53% of respondents felt fairly or completely confident in understanding their car lease agreement. 1 in 6 respondents didn't or weren't sure if they actually read through their lease agreement in full.
We're assuming that if you're reading this article, you have a leased car. And, if you do, you might be considering a buyout.
So, your leased car is damaged. Most lease contracts include coverage for approved, predictable maintenance, but usually won’t cover damage from accidents (like, say, a mailbox that appeared out of thin air). If you’d rather avoid disclosing the damage, or just like to work on your own cars, you might be wondering – can I repair a leased vehicle myself?
If you’re leasing a car, that lease will come to an end one day, one way or another. However, that day might not have to come as soon as you originally thought.
To make a fully informed decision about your end-of-lease options, you’ll need to know just a thing or two about your car’s residual value. We’ll try to keep things bite-sized here – we know you’re busy.
Equity can be a confusing topic, and adding leasing into the mix makes it even more complicated. But it’s worth learning about, because it can work for – or against – you. Below, we’ll go over what exactly equity is and how it’s calculated. We’ll also show you why you should care about the potential lease equity in your car, along with the benefits to unlocking and accessing that equity. Ready? Let’s review 4 essential things to know about equity and car leasing.