Clark Howard's Tips
March 16, 2006
Clark hasn't talked about leasing a car in a while, mostly because he doesn't normally recommend it. But he has an offer he wants you to know about just this once.
If you like new wheels every 24 months or the manufacturer is offering special subsidized financing, it's OK to lease. And that subsidized lease from the manufacturer should last no longer than three years.
You should not lease because you think you'll get more car for less money. That's just plain hooey.
Also, if you're in a lease now, you can refinance it if you have good credit. How does it work? Well, there is no requirement under law that you'll be told the actual interest rate on your lease. You're basically borrowing the car, so the terms are always skewed.
If you refinance your lease, you will be paying less and can get out of the lease earlier!
Get help doing this at lowermylease.com. Just remember that you never want to extend the length of the lease, regardless of whether you get a lower rate.
Consumer advice courtesy of
|
