At the time, leasing a car sounded like a great deal: You got to drive home in a brand-new car for far less than you would have paid if you bought it outright. And in two or three years, you get to return it the dealership, buy it, lease a newer model, or just walk away. Great!

Fast-forward a year or so, and your situation has changed. The same, shiny new vehicle you loved at lease signing might not be the right fit anymore. Maybe the small car you leased can’t accommodate your growing family. Maybe your financial situation has changed, and you can no longer afford the monthly payment. Or maybe you have changed jobs, and your new commute threatens to blow your yearly mileage limit.

Whatever the reason, if you need to get out of your lease early, there are options. Unfortunately, none of them are going to let you walk away without penalty. Dealerships and banks make money from leases by predicting what your car will be worth when you turn it in and charging you the difference. Essentially, you are paying for the vehicle’s depreciation in value plus a little extra for as long as you drive it.

If you decide to terminate your lease before the end of the agreed-upon term, your titleholder stands to lose money. They are likely to make an early exit difficult and expensive to discourage lessees from trying to do exactly what you want: get out of the lease early.

That being said, it happens all the time. Here’s how.

1. TRADE IT IN.

This is both the simplest and quite likely the most expensive of your options. Many dealers will allow you to get out of your lease early if you are looking to get into one of their newer or pricier models. But you are likely going to have to pony up all the fees and penalties that were spelled out in your lease contract. According to DMV.org, those penalties can include:

• Remaining payments on your lease
• An early termination fee
• Costs related to preparing the vehicle for sale
• Storage and/or transportation of the vehicle
• Taxes associated with leasing, if any
• Negative equity between your lease amount and the current value of your car

You may be able to roll penalties into your new monthly lease payment. If not, it’s a hefty premium to pay to switch vehicles.

2. SWAP YOUR LEASE.

Lease-swapping involves finding someone else to take possession of your leased vehicle and fulfill the remaining terms of the contract, including monthly payments and any penalties or fees assessed at turn-in. You can find a new lessee on your own or use a lease-swapping website, which may charge you a fee in the $250 to $500 range if you are successful. If you are desperate to get out of your lease, swapping it could cost you a good deal less than termination.

Here’s the catch: Some lessors simply don’t allow it. You will have to take a close look at your original contract to see if it is even an option.

Many lease companies require the original leaseholder to remain on the paperwork in the event of a swap. If that is the case, you essentially become a cosigner for the new lessee. If they default or incur penalties they can’t or won’t pay, the titleholder can still come after you for the funds.

3. BUY IT OUTRIGHT.

Every lease agreement includes a clause that allows you to purchase the vehicle outright at any point during the term. Look for the “buyout amount” listed on your most recent statement. It’s a close approximation of the total of your remaining payments plus the predetermined residual value of the vehicle.

To decide whether this strategy might work for you, the first thing you will want to do is determine how much your vehicle is actually worth and compare it to the buyout amount. You may be able to resell it and recoup or even exceed the purchase price.

Even if there is a small difference, a buyout may still be worth it — at least you will avoid all those penalties. But if the buyout amount is substantially higher than current market value, then this path will likely cost too much.

4. TALK TO YOUR TITLEHOLDER.

If you don’t actually want to get out of your lease entirely, but you do need a break from your monthly obligation, your leasing company might be willing to work with you to find a solution. They may suggest temporarily reducing (or even suspending) your payment amount and making it up on the back end. It’s not ideal, but if it gets you out of a jam and prevents an early termination, it could be the best option for both parties.

5. JUST LET IT GO.

Faced with the need to exit a lease, some lessees simply take their vehicles back to the dealership, hand in the keys, and leave. In auto finance lingo, this is known as a “voluntary repossession.” This option should be your last resort. It will have a profound impact on your credit score, just like any other repossession.

You may also be tempted to simply stop making your payments and allow the titleholder to attempt to repossess the vehicle. This is no more advisable than a voluntary repossession. The combination of missed payments and the repo will stain your credit report for at least the next seven years. These derogatory entries will severely hinder your ability to open new credit cards, get approved for a mortgage or, in some cases, land a new job or apartment.

For more advice on getting out of your lease the right way, talk to the experts at Innovative Funding Services (IFS). We specialize in car lease buyouts, and we may be able to help you buy out your lease early. If you are ready to buy out your car lease, apply now. We offer up to 100% financing for those with credit scores of 525 to 850.

When you are choosing an extended auto warranty program is important to look through the various exclusions of the policy you are purchasing. Most reputable auto warranty providers make their inclusions and exclusions clear and concise and have no mixed wording to confuse a repair shop or customer. However, some of the shadier companies out there, typically without a direct underwriter to get out of many different claim situations.

Overheating is a good example of this. Some companies will exclude any repair, even if it has nothing to do with the vehicle overheating if there is any sign that an overheat has occurred. More reputable providers will cover the failure of any covered part as long as owner negligence did not close the failure. Owner negligence in reference to a vehicle that is overheated would be if a driver would continue to operate the vehicle even after the gauges or warning lights have come on. This would obviously cause additional damage to the vehicle from continued operation after the overheat and would not be covered by any warranty program. So in conclusion, it is not overheating that is not covered by a quality auto warranty program, it is the damage caused to the vehicle by the continued operation after the vehicle has overheated.

To be sure you get one of the highest quality auto warranty is available you can request a quote from Auto Advantage or other A+ rated and BBB accredited warranty companies.

There are two main kinds of extended auto warranties. There are auto warranties that are bought through aftermarket auto warranty companies and there are auto warranties that are backed by a manufacturer.

An extended auto warranty that is bought through an aftermarket auto warranty company tends to be less expensive. Also, this kind of auto warranty tends to vary in both price and quality depending upon which company you buy from. This is why it is always important to do your research before making a purchase.

An extended auto warranty that is backed by the manufacturer generally includes a wide variety of repairs and services. Repairs performed on your vehicle are usually done in a dealership that is approved by the manufacturer. This means that you will not usually experience any issues when going to get them done.

No matter where you get your extended auto warranty company from, it is essential that you do research. Compare a variety of warranties for price and quality.

For many of us purchasing an exotic vehicle such as a Ferrari, Lamborghini, Bentley, Rolls-Royce, Maserati, Aston Martin, etc. is far out of reach. But for those lucky few that can afford to purchase and enjoy these exotic luxury vehicles the joy and exhilaration they get from driving these cars is unmatched. However, when one of these vehicles breaks down the cost to repairs is also unmatched. It is not uncommon to see repair bills of $5,000, $10,000, $25,000, or more.

Unlike when you own a traditional vehicle, extended warranty coverage is not readily available for these cars. Luckily though it is extremely hard to find, there are two “reputable” warranty providers that do offer coverage for exotic and extreme luxury cars. Auto Advantage Inc., A+ rated and in business since 1979 specializes in warranties for these cars and is a direct distributor for both providers. Coverage available ranges from basic powertrain coverage to exclusionary bumper-to-bumper coverage.

If you are looking for Ferrari warranty coverage, Lamborghini warranty coverage, Bentley warranty coverage, Rolls-Royce warranty coverage, Maserati warranty coverage, Aston Martin warranty coverage, or any other exotic auto warranty contacting Auto Advantage is your best, and perhaps only safe choice.

For further details contact their exotic and luxury car warranty specialist at 800-933-9190 or visit Auto Advantage’s website directly at www.autowarranties.com.

For me, not a day goes by that I do not receive some type of unsolicited telemarketing phone call or piece of mail trying to sell me something.

Unfortunately many of the companies that do direct marketing have a terrible reputation and are generally very poorly rated with the Better Business Bureau. The reason for this is most higher-quality companies do not participate in direct marketing as they generally get enough business through traditional marketing methods. And no business is this more true than in the auto warranty business. There isn’t a single company we have found that direct markets warranty plans that actually has an insurance company underwriting their business. This is the gold standard for determining whether a warranty company is reputable and upstanding. These unscrupulous marketing companies are simply sham companies set up to scam you out of your money. Unfortunately this also goes for auto warranty companies that advertise on the radio or cable television. No “reputable” auto warranty company does any type of television or radio ad.

Purchasing an auto warranty is actually one of the best financial decisions the vehicle owner can make. The way to protect yourself and make sure that you purchase an auto warranty from a company that will be there to pay claims when the need arises is to make sure that you follow certain criteria. Some of the things to make sure of are…
• Be certain that the auto warranty company is in business for 10 years or more to assure that they are successfully paying claims, not just selling warranties.
• Check to make sure that the company is not only A+ rated by the Better Business Bureau but also an accredited BBB company.
• And perhaps most importantly, you want to make sure that the warranty company is backed and insured by a United States-based insurance carrier that has at least an A rating with AM Best. This means that even if the warranty company itself goes out of business your claims will still get paid directly by an underwriter.

The bottom line is you need to do more than just get a quote and assume the plan is a quality auto warranty program. You should always do your research to make sure that you know what you’re getting yourself into. An excellent place to start is one of the most reputable companies in the industry, Auto Advantage Inc. who have been offering automotive warranties and roadside assistance since 1979.

We are often questioned on why we don’t post any testimonials of our happy customers on our website. It is unfortunate, but it is become the practice of many companies, both reputable and not reputable, to either create their own testimonials or higher a public relations firm to do it for them. This is obviously a dishonest and poor way to run a business. We choose not to post testimonials, though we have many, as we simply will not fall into this group.

So how is a consumer supposed to know what companies are reputable and what companies are not? The last thing a customer wants to do is invest their hard-earned money in a warranty program that will simply not pay claims as they promise. The best way to protect yourself as a consumer is to make sure you follow the following guides…

• First, make sure the company you choose for your warranty coverage has been in business 10 years or more so they have shown experience successfully paying claims, not simply selling plans and collecting premiums.
• Second, make sure the plan you choose is directly underwritten by a US-based, A rated insurance carrier. Many “so-called” auto warranty companies are simply corporations or risk retention groups and have no financial or insurance backing. Having a directly underwritten plan means that if the warranty administrator ever fails to exist, your claims will automatically be paid by the insurance carrier and your coverage will be valid regardless.
• Third, you want to choose a company that has an A+ rating with the Better Business Bureau, and perhaps more importantly has been accredited by the Better Business Bureau.

The bottom line is that as you research the different coverage available to you, do not only look at the items covered and the price of coverage, look at the tenure and reliability of the company you are purchasing from. Though we are not the only company in the auto warranty industry, we are one of the best. To obtain a quote visit our webpage.

There are many ways to shop for used car. You can go from dealer to dealer and used car lot to used car lot, you can go on many of the used car sites online, or even an auction site online. Regardless of how you go about finding a vehicle it is important you understand what to look out for to make sure the you are not purchasing somebody else’s discarded problems. Here are some tips that might help you to find a high-quality vehicle that hopefully will serve you for many years to come…

1. Take your time when evaluating a vehicle. Take several walks around the exterior of the vehicle noting any imperfections you may find. Open the doors, trunk, and hood and look for anything that does not look like it was original or just doesn’t look right. Don’t be afraid to ask the seller questions and evaluate the answers you received. Do the same with the interior, take your time and sit in the vehicle and make sure you try all of the equipment and accessories to make sure they are operating properly. Shift the vehicle into drive, neutral, and reverse and make sure it seems to shift quickly and smoothly. If not, expensive repairs may be imminent.

2. Ask for a vehicle history report such as Carfax or AutoCheck. Make sure the vehicle has no major negative events in its history and that there are no odometer discrepancies.

3. Start the engine and open up the hood. Your eyes, ears, and nose are your best friends here. You want to look for any visible oil leaks. You want to listen for any unusual sounds. And you want to make sure that there are no unusual smells, for instance something smelling like it’s burning. Check the transmission fluid by pulling out the dipstick and checking the level and giving it a quick smell. If the vehicle was just started the transmission fluid level should be near the cold marker. You want to make sure it does not smell burnt as this could identify a current or pending problem. When the engine is turned off again pull out the oil dipstick and again, make sure it looks like it is not dirty and does not smell burnt. The color of the oil should be similar to dark amber.

4. Now it’s time for a test drive. Before you start moving check the steering system. Open the windows and turned the steering wheel hard all the way to one side, and then the other. You want to make sure there is no resistance and that there are no loud squealing sounds which could signify a problem with costly parts of the steering system. You will also want to jiggle the wheel back and forth a bit from the center position and make sure that it doesn’t have any play. Going from one side to the other. It should feel firm when turning from one side to the other. Once you are confident the vehicle is safe to drive make sure you drive it with the windows open and closed. Make sure you don’t hear any noises that seem uncommon. If you do find any potential issues and you are not sure what they are make sure to have a qualified mechanic look the car over before you complete the purchase. While driving, make sure to pay attention to the brakes. Do they feel like they are working properly and stopping the car efficiently? If not, they may need to be addressed and that could help you as any other problems found, in negotiating a better purchase price.

5. Last, but certainly not least. Asked to have the vehicle inspected by a mechanic or shop of your choice. If there is any resistance to having the vehicle inspected run, don’t walk away from the vehicle as is a telltale sign there are going to be issues found.

Once you have found the right vehicle and have made a purchase it is a sound financial decision and great idea to purchase a quality used car warranty. An auto warranty can protect you from the inevitable major or minor repairs that you will face down the road. There are few reputable companies that will allow you to purchase coverage directly, excluding the dealer and their profit, at wholesale pricing. A great place to start is Auto Advantage Inc.

Motorists rely on their vehicles to get them through their day. If the vehicle is not running properly and breaks down, it will make getting through their day much more difficult. Not only is it harder to get through the day, it hurts the wallet since repair costs can be pricey.

When their old car breaks down on them, often time, motorists will choose to purchase a new vehicle from the used car dealership. However, if you have poor credit or simply do not have enough money to purchase a vehicle, used car loans can help you pay for one. There are places that will provide you with a loan in order to purchase a used vehicle.

After you have purchased the used vehicle, it is smart to look into investing in used car warranties that can cover the cost of repairs and maintenance on your vehicle. If you are low on money, an auto warranty will allow you to feel at ease when you need to bring your vehicle into the shop for repairs and maintenance.

When you have found a home you love, it’s time to make an offer. Ideally, your offer will make the seller and you happy and assured that between your offer and closing everything will go smoothly. As the buyer you need to know how to make the best possible offer on the home. Matching the seller’s list price isn’t your only concern. Your agent should advise you of all of your options while preparing your offer contract. The terms included in your offer can represent thousands of dollars in additional value (or additional costs) to you. These terms are important and you should carefully review them. Here are some other important items to consider when you make an offer to buy a home:

How Much Should You Offer?
The amount you offer depends on the basic laws of supply and demand: If inventory is low and multiple buyers are competing for a home, sellers will likely get full-price offers and a house may sell for more than the asking price. If demand is weak, an offer less than the asking price might be a savvy strategy. If you are considering a low-ball offer, ask your agent to substantiate the price for you.

The process of making a purchase offer varies state to state, but typically you’ll complete an offer sheet that your REALTOR® will present to the owner and the owner’s representative.

When you make an offer you are telling the seller not just what you’re willing to pay, but how you’re going to do it. You’re offer should also include an expiration date and provide you with an escape route if you find out something about the house that the seller won’t fix. Without that, you may find yourself handcuffed to the purchase no matter what you discover.

Negotiate and Write Counteroffers
Because counteroffers are common, expect the seller to issue one (any change in an offer is considered a counteroffer). It’s important for you to remain in close contact with your REALTOR during the negotiation process so that you can quickly review any proposed changes.

If the seller counters at full price, continue to negotiate. During offer negotiation, share personal information about yourself and your family to give the seller a reason to care about you.

At some point the seller will accept or reject the offer. If your offer is rejected, ask your agent to explain why and don’t repeat that mistake with your next offer.

Make an Earnest Money Deposit
The seller will want to know that you have the financing in order and that it’s solid. A pre-approval letter, which is often required by sellers, can help give the seller confidence to accept your offer. It shows you’re working with a lender and that the lender is willing to loan you the money needed to finance the home.

When your offer is accepted, you’ll likely be asked to deposit an “earnest money” check or money order. The check will be placed into an escrow account and used as part of your down payment. Earnest money is essentially a deposit and shows the seller that you are serious. Your agent should help advise you about the customary amount for the market.

Earnest money is the deposit you are putting at risk if you back out for reasons not outlined in your offer. Never make your check payable to the seller. And your offer should contain contingencies that will return your earnest money deposit to you if you cancel the contract.

Now that your offer has been accepted and monies have been deposited, your next steps on the journey to homeownership will include:

Open Escrow / Order Title
Order Appraisal
Comply With Lender Requirements
Approve Seller Disclosures
Order Homeowner’s Insurance Policy
Conduct Home Inspection
Issue Request for Repair
Remove Contingencies
Do Final Walk Through
Sign Loan / Escrow Documents
Deposit Funds
Close Escrow
Buying a home can be quite an arduous journey but it also can be exciting and well worth it when you own the home you love.