Rebates – Reward or Rip Off?


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Rebates have become increasingly popular in the last few years on a lot of items and certainly on electronic items and computers. Rebates of $20, $50 or $100 are not uncommon.

you must have even seen items advertised as “free after rebate”. Do these rebates come under the heading of “too good to be true”? Some of them do and there are “catches” to watch out for but if you are careful, rebates can help you get some really good deals.

The way a rebate works is that you pay the listed price for an item then mail in a form and the bar code to the manufacturer and they send you a refund thus reducing the price of what you paid for the item except with a time delay of several weeks.

Rule #1. Rebates from reputable companies are usually just fine.

You can be pretty sure you will get the promised rebate from Best Buy, Amazon or Dell but you should probably not count on getting one from a company you’ve never heard of. If you really want the product and are OK with paying the price listed then buy it but don’t count on actually getting the refund.

Rule #2. Check rebate expiration dates.

Many times products will stay on the shelf of a retailer after the date for sending in the rebate offer has expired so check that date carefully.

Rule #3. Be sure you have all the forms required to file for the rebate before you leave the store.

Rebates will almost always require a form to be filled out, a receipt for the purchase and a bar code.

Rule #4. Back up your rebate claim.

Make copies of everything you send in to get your rebate including the bar code. Stuff gets lost in the mail all the time and if the rebate is for $50 it’s worth the trouble to back up your claim.

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Spend Wisely to Save Money


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Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much…just by a little each week but they continue to creep up and up.

All it takes for the price to jump up by a lot is a little hiccup in the world wide market, note the price of gasoline as it relates to world affairs.

There is a way that we can keep these price increases from impacting our personal finances so much and that is by buying in quantity and finding the best possible prices for the things we use and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the grocery store or hardware store.

For instance, dog food and cat food costs about 10% less when bought by the case than it does when bought at the single can price and if you wait for close out prices you save a lot more than that.

Set aside some space in your home and make a list of things that you use regularly which will not spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into so keep that in mind.

Then set out to find the best prices you can get on quantity purchases of such things as bathroom items and dry and canned food.

You will be surprised at how much you can save by buying a twenty pound bag of rice as opposed to a one pound bag but don’t forget that it must be kept in a rat proof container.

You can buy some clothing items such as men’s socks and underwear because those styles don’t change, avoid buying children’s and women’s clothing, those styles change and sizes change too drastically.

Try to acquire and keep a two year supply of these items and you can save hundreds of dollars.

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Why Should I Make a Budget?


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You say you know where your money goes and you don’t need it all written down to keep up with it? I issue you this challenge. Keep track of every penny you spend for one month and I do mean every penny.

You will be shocked at what the itty-bitty expenses add up to. Take the total you spent on just one unnecessary item for the month, multiply it by 12 for months in a year and multiply the result by 5 to represent 5 years.

That is how much you could have saved AND drawn interest on in just five years. That, my friend, is the very reason all of us need a budget.

If we can get control of the small expenses that really don’t matter to the overall scheme of our lives, we can enjoy financial success.

The little things really do count. Cutting what you spend on lunch from five dollars a day to three dollars a day on every work day in a five day work week saves $10 a week… $40 a month… $480 a year… $2400 in five years….plus interest.

See what I mean… it really IS the little things and you still eat lunch everyday AND that was only one place to save money in your daily living without doing without one thing you really need. There are a lot of places to cut expenses if you look for them.

Set some specific long term and short term goals. There are no wrong answers here. If it’s important to you, then it’s important period.

If you want to be able to make a down payment on a house, start a college fund for your kids, buy a sports car, take a vacation to Aruba… anything… then that is your goal and your reason to get a handle on your financial situation now.

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Avoiding Impulse Spending


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Answer these questions truthfully:

1.)    Does your spouse or partner complain that you spend too much money?

2.)    Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?

3.)    Do you have more shoes and clothes in your closet than you could ever possibly wear?

4.)    Do you own every new gadget before it has time to collect dust on a retailer’s shelf?

5.)    Do you buy things you didn’t know you wanted until you saw them on display in a store?

If you answered “yes” to any two of the above questions, you are an impulse spender and indulge yourself in retail therapy.

This is not a good thing. It will prevent you from saving for the important things like a house, a new car, a vacation or retirement. You must set some financial goals and resist spending money on items that really don’t matter in the long run.

Impulse spending will not only put a strain on your finances but your relationships, as well. To overcome the problem, the first thing to do is learn to separate your needs from your wants.

Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.

If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships.

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How to save money and secure financial position


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A lot of principles are standing for sound financing and banking. A wise person would watch close for the best finance tips because many times savings are more important than even actual investment plans. A few points have been listed here to guide your decision making process.

1.    Avail of the matching grant by the employer scheme: for the best finance place you should find out the minimum requirement to avail of the matching grant by the employers. There is a lot of money in these contributions and many times people miss it by not reaching at the minimum level.

2.    Reduce your investment in the stock of your company: As much as 65% of the total investments are shows as employer funds contributions.

3.    Invest your funds in Roth IRA: Whether you are single or married and have a total income of about $100,000 to $170,000 as adjusted gross income (AGI), you should invest the limit annually in Roth options.

4.    Drop over the board funds: You should be careful to understand what your statement shows in your expense ratio. This ratio is the difference between gross returns of your funds and the expenses. You should aim for long-term gain of above 9 per cent, after expenses deductions, otherwise in the overall calculations you would have lost anything between 15-19% of your returns from your funds. The smartest way to come up on top is to invest in exchange trade funds and/or index funds and this can be only done when you keep an eye on the best finance tips.

5.    Always insure your house: Your mortgage can be your highest form of fund drain if you are not careful. For maximum benefit, you should shift from any ARM to a FRM (fixed rate mortgage). Consider the mortgage to suit your purpose; carefully calculating the time you will spend in the house and the interest rates compounded by the time you will pay the installments. The best is a fixed rate mortgage, which will be concurrent with the time you live in it.

6.    Eliminate any credit cards you have with universal default settings: Most of the credit cards are universal default credit cards. The fault with these type of cards is that is can at a moment’s notice hike your interest rate from a comfortable and normal rate to a heart-stopping unpayable one. There were instances when one day’s delay resulted on a hike of 10% in payment, which will definitely choke you. More so, if you are not aware of this and a lot of time passes with a lot of interest accumulation on your bills before you actually pay it up.

7.    You should be on your own credit guardian: There are ways to get a free report on your credit capacity and credit cards. Find out the best bureaus/ organizations to do this and stick to them, following it up closely. The best is to procure an insurance, which will assure about 20-25 times the amount you would want to substantiate in case of your death. Normal policies would be good enough for this purpose so avoid overly expensive options. Always watch for value for your money – whether alive or after death.

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Credit counseling


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Credit counseling is kind of a last way out for people who have burdened themselves with a number of debts and pending interest against their names. Usually what happens in the normal flow of time is that an individual keeps on taking loan against his name to fulfill and satisfy his needs for the time being. What happens then is that whenever the individual is in the need of money, he resorts to taking up loans to meet his needs. Eventually a point comes when the individual cannot afford to repay his loans. As the number of loans against the individual increases, so does the monthly payment to be made by the individual increases. But as the individual gets knee deep in the loans, he or she cannot afford to even make the monthly payments, leave aside the interest to be paid by him. What results in this is that the rates of interest get accumulated against his name and thus the amount to be to be paid by the individual increases too. This is the time when individuals are asked to and advised to take the help of credit counseling for their credit needs.

Credit counselors are actually professional financial advisers who help concerned individuals with there credit needs and requirements. Credit counselors are experienced advisors who specialize in dealing with individuals who have a number of debts pending against there name. There main work is to help those individuals out of their financial dilemma and then help those individuals out of there debts. Usually what happens is that the individuals who approach these credit counselors have a number of loans pending against there name. As they are not able to meet the monthly payment requirements, they have huge outstanding payments against there name. How credit counselors help these individuals out is by helping them consolidate there loans into one single loan. The credit counselors help the individual to convert his or hers single loan into one single loan amount, which makes it easier and affordable for the individual to make the payment. Credit counselors also help the individuals to convert there poor credit history into a favorable and suitable one. People who have a poor credit history can also go and lend the services of a credit counselor.

However, it should be taken into note that a credit counselor’s job is not finished by just consolidating the loans. Credit counselors also help in giving the individuals a low and best rate of interest on their consolidated loans. Thus we see what an important role the credit counselors play in the credit history of an individual.

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Why You Should Invest


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Investing has become increasingly important over the years, as the future of social security benefits becomes unknown.

People want to insure their futures, and they know that if they are depending on Social Security benefits, and in some cases retirement plans, that they may be in for a rude awakening when they no longer have the ability to earn a steady income. Investing is the answer to the unknowns of the future.

You may have been saving money in a low interest savings account over the years. Now, you want to see that money grow at a faster pace. Perhaps you’ve inherited money or realized some other type of windfall, and you need a way to make that money grow. Again, investing is the answer.

Investing is also a way of attaining the things that you want, such as a new home, a college education for your children, or expensive ‘toys.’ Of course, your financial goals will determine what type of investing you do.

If you want or need to make a lot of money fast, you would be more interested in higher risk investing, which will give you a larger return in a shorter amount of time. If you are saving for something in the far off future, such as retirement, you would want to make safer investments that grow over a longer period of time.

The overall purpose in investing is to create wealth and security, over a period of time. It is important to remember that you will not always be able to earn an income… you will eventually want to retire.

You also cannot count on the social security system to do what you expect it to do. As we have seen with Enron, you also cannot necessarily depend on your company’s retirement plan either. So, again, investing is the key to insuring your own financial future, but you must make smart investments!

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Understanding Bonds


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There are certain things you must understand about bonds before you start investing in them. Not understanding these things may cause you to purchase the wrong bonds, at the wrong maturity date.

The three most important things that must be considered when purchasing a bond include the par value, the maturity date, and the coupon rate.

The par value of a bond refers to the amount of money you will receive when the bond reaches its maturity date. In other words, you will receive your initial investment back when the bond reaches maturity.

The maturity date is of course the date that the bond will reach its full value. On this date, you will receive your initial investment, plus the interest that your money has earned.

Corporate and State and Local Government bonds can be ‘called’ before they reach their maturity, at which time the corporation or issuing Government will return your initial investment, along with the interest that it has earned thus far. Federal bonds cannot be ‘called.’

The coupon rate is the interest that you will receive when the bond reaches maturity. This number is written as a percentage, and you must use other information to find out what the interest will be. A bond that has a par value of $2000, with a coupon rate of 5% would earn $100 per year until it reaches maturity.

Because bonds are not issued by banks, many people don’t understand how to go about buying one. There are two ways this can be done.

You can use a broker or brokerage firm to make the purchase for you or you can go directly to the Government. If you use a brokerage, you will more than likely be charged a commission fee. If you want to use a broker, shop around for the lowest commissions!

Purchasing directly through the Government isn’t nearly as hard as it once was. There is a program called Treasury Direct which will allow you to purchase bonds and all of your bonds will be held in one account, that you will have easy access to. This will allow you to avoid using a broker or brokerage firm.

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Car Title Loan


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When you need money, often times the need is immediate. Finance companies sometimes offer an easy way out of financial problems by offering a car title loan. Unfortunately, clients are misled by the quick money that a car title loan offers.

Tagged as abusive, car title loans charge extremely high interest rates of up to 360%. To receive a car title loan, the consumer must sign over their car title as collateral. Set up as open-ended credit, car title loans are not subject to an interest rate limit or a maturity date.

So how does one get to have a car title loan? It’s simple. A customer enters the finance office to apply for a car title loan and is asked how much money they would like to borrow. With no credit check and no delay, the borrower can obtain a loan by exchanging their car title and an extra set of keys to their vehicle as collateral. The loans are typically less than $1,000.

The borrower then makes the first payment after 15 days and then every 30 days thereafter. The borrower pays one percent interest per day and must pay a minimum of ten percent of the loan principal with each payment, excluding the first payment.

Every car title loan has an annual percentage rate of up to 360%. While the car title loan can be paid off early with no penalty, the vehicle can be repossessed with one missed payment. Unfortunately, many borrowers are losing their transportation because of this.
This “Secured lending” is supposed to be cheaper for borrowers than unsecured lending because the lender can look to collateral in the event of default.  That security means that it is a kind of lending that is in a vastly different category than payday loans – and should not be compared to it.

The car title lenders have avoided interest rate limitations by structuring the debt as open-ended credit, like credit cards.  Open-end credit was deregulated because federal law let out-of-state card issuers export their no-cap law.  The legislature has never decided that secured, small loans should be deregulated.

Most secure title loans are charging a much higher interest rate than unsecured credit cards.  Credit cards are unsecured, and therefore more risky than secured loans.  Despite the greater risk, the current average interest rate charged by credit card companies is 12.5% .  Yet car title loans which are secured by cars which are owned free and clear by the title loan borrowers, are being charged rates that are 29 times the rate being charged on credit cards.

Due to astronomical annual percentage rates and because of the high repossession rate, the first payment on these loans is due a scant 15 days after borrowing the money.  Failure to make the first payment of your car title loan, or any one payment thereafter results in repossession.  While no data is currently available on repossessions of cars, at one auction house, over 150 vehicles have been sold after being repossessed.

There is also the loss of equity.  For example, for many Iowans their car is their most valuable asset.  Car title loans put this asset at risk and Iowans are losing all of their equity to the astronomical interest rates.  For the unfortunate clients who lose their car to repossession any excess equity they may have built is eaten by the repossession costs and interest rate charges.

The “financial emergency” that necessitated the desperate car title loan for these consumers is rarely as short-lived as the loan terms, so the interest quickly mounts as paying the loan off with a balloon payment is commonly impossible. It will appear that in a car title loan, you won’t be able to escape at all.

Here are some guiding principles from an affordable loan term. These should keep you away from car title loans as well:

•Establish Fair and Affordable Loan Terms. Title-secured loans should be repayable in affordable installments rather than a lump sum. Is your car title loan like this? Rates should be limited, and lenders should be required to consider the borrower’s ability to repay

•Protect Borrowers After a Default. States should bar abusive practices such as seizing cars without notice, pocketing the difference between the sales price and what the borrower owes or pursuing the borrower for even more money after repossessing the car.

•Close Loopholes to Ensure Consistent Regulation. States that permit title lending should close loopholes that exempt some loans from the law and ensure that laws apply to all lenders, including those operating across state lines.

•Monitor Lenders Better. States should closely monitor lenders through strong licensing, bonding, reporting and examination requirements.

•Ensure Borrowers Can Exercise Their Rights. Car title loan borrowers should be able to sue title lenders and void contracts that violate the law. Binding mandatory arbitration clauses that deny borrowers a fair chance to challenge abuses in court should be eradicated.

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Used Car Loan


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When it comes to a used car loan, there are quite a number of concerns. You may asked yourself,”How can I sell my used car to a private party if I don’t have title?” or “How do you finance a car from a private person?” as well as many other questions.

Many people ask how they could have a used car financed? When applying online, it will only take minutes. After you receive an emailed check from the online loan company,  you can choose to buy a used car from a private owner with very little hassel.

Some companies offer used car loans for buying from car dealers as well. You can apply online and you can get approved in an hour.

Here are some useful tip when surfing the net for a used car loan:

1. To qualify for a used car loan, make sure to keep your credit score to at least 680. People with bad credit pay higher car loan interest rates. A used car loan wouldn’t be any different. Get hold of your credit report online. Never apply for a car loan , much less for a used car loan, unless you get your credit report with credit score first. Depending on other factors, a high quality lender like some finance companies or banks do, can approve used car loans for people with scores as low as 540.

2. Never pay cash for a deposit on a car - even if it’s a used car loan you’re relying on to pay for it or finance it. You can dispute purchases made with your credit cards. But without proof of the transaction, you can be taken advantaged of by swindlers.

3. Shop for auto insurance costs for your used car along with your used car loan. Before you shop armed with a used car loan, get auto insurance quotes to find out how much it will cost to insure it. Auto insurance sites give free online car insurance quotes.

4. Get an extended warranty for your used car. Unless you have an extended warranty, you are exposed to potentially large losses, which would be huge drawbacks on your used car loan.

Before deciding on a used car loan, better ask yourself these questions:

What are the drawbacks of a used car?
What are the benefits of a used car?

Think twice: A used car could have a listed maintenance and repair history.

Used car warranties often are available at extra cost.
The maintenance costs get higher as the miles on the vehicle climb toward 100,000.
There are not as many safety and convenience features as newer vehicles have.

A used car, however, will be significantly cheaper to buy than going with a new model. It has comprehensive and theft insurance and costs are likely to be less.

After weighing the pros and cons, you can decide if a used car loan is for you.

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Refinance Car Loan


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When comparing car loans of different lenders, it can be difficult shopping. However, you will find out that refinance car loans are getting more and more competitive nowadays so spending a little time can save you money. A slight change in the interest rate offered by a refinance car loan can make a big difference. Looking for the best interest rate won’t be frustrating after comparing various car loans.

Always keep in mind that refinance car loan packages consist of more than interest rates. When comparing rates of different lenders, make sure you compare also the associated points. When comparing lenders, compare also the loan related fees since the other fees are usually independent of the lender.

Furthermore, when comparing refinance car loans of different lenders, you need to investigate and compare all loan features thoroughly. Pay special attention to the presence of prepayment penalties and the availability and terms of conversion options.

Finally, for each refinance car loan you are comparing, find out the lock-in period, during which the interest rate and points quoted to you will be guaranteed. There are lock-in periods that range from 30, 45 to 60 days. Some lenders offer a lock-in for only a short period of time, say 15 days. When the lock-in period is longer, the price of the refinance car loan is higher. The lock-in period should be long enough to allow for settlement before the lock-in period expires.

You can take advantage of lower rates by refinancing your car loan. Refinancing a car loan could put some extra cash in your pocket as well. If you financed a car within the last 18 months, you may be able to beat your former rate through a refinance car loan. Back then, you could have been so caught up in the excitement of buying a new car that you forgot to focus on the financing deal and instead, focused on its color and leather seats.

Think of it this way, if you apply for a refinance car loan, you’ve got nothing to lose but only savings to gain. Here are some easy tips to help you decide to get a refinance car loan or not:

First, ask yourself, what are you trying to accomplish by refinancing your debt? Are you looking for means to pay as little interest as possible? Would you rather have a different type of financing?

Second, think of your credit situation as a real scenario. Will your credit qualifications allow you to get the best refinancing deal? Try to get a copy of your credit report before applying for a refinance car loan.

Third, have a second look at the loan you’re already signed. Try to determine how the rate on your current loan is calculated. With a simple-interest loan, interest is charged daily based on the balance due. If there is no prepayment penalty on your current car loan and you plan to keep the car for several years, then it makes sense to go after a lower interest rate.

Fourth, compare your current loan terms with the refinance car loan terms to determine whether or not you will have any real savings.

It’s important that you decide ahead of time what you will do with any newfound monthly savings you would have from a refinance car loan. If you continue to send in the same amount as your original loan payment, you’ll double or perhaps triple the benefits of a refinance car loan because you are reducing the principle much more quickly. If you send only the required amount, you’ll be paying less monthly but you won’t be speeding up your debt reduction by paying off the principal sooner.

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Independent Car lease companies


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To lease, you have two possible choices: either lease through a dealer’s finance source or through an independent lease company. A conventional dealer has a captive finance source, which can be the car manufacturer’s financial company, such as BMW Financial Services, Honda Motor Credit or General Motors Acceptance Corporation (GMAC), or a major national bank such as Chase Manhattan. Independent lease companies are no financial obligation to any single one manufacturer financing source, but work with dealers anywhere in the country.

So which one is better?

Conventional dealers provide better lease-deals on limited-time promotions. Factory-subsidized cars that have subvented money factors and residuals are very attractive lease deals and can be very hard to beat anywhere else.

Independent lease companies can offer you unbiased and professional advice on vehicle selection regardless of make and model. This is because they are not tied to a single manufacturer or financing source, unlike conventional dealers who have to sell specific models. They can also be more flexible regarding negotiating lease terms like residual value and mileage. Ultimately, if you prefer a more personal and customer-oriented relationship with your leasing agent, then you will do well with an independent leasing company.

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How to spot a good car lease


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Leasing has been lauded as your cheapest ticket to keep up with the industry’s hottest vehicles and trends. The jury, however, is still out on leasing: with the industry long on hype and short on detail, it is difficult to distinguish between a genuinely good deal and a downright up-selling exercise.

So how do you spot a good deal?

First, you need to find out if there are any down payments on the lease. A down payment refers to the lump sum amount that you pay upfront, either in cash, non-cash credit or trading allowance, to reduce your monthly payment. You should think twice before putting money down on a lease: not only are you getting a rough deal, as you’re essentially forfeiting the general rule of leasing:  not putting any cash upfront, but the money is not recoupable at the end of your lease. There is another big disadvantage: in the event of your car getting damaged or stolen, you insurance and the gap cost will not cover the loss.
Mileage Limit

Most leasing companies allow you a limit of 45,000 free miles over the length of a 3-year lease. This may seem like a good deal at first sight, but when you consider it only comes to 15,000 miles over a 12 month period it’s not difficult to foresee why it might be difficult to stay within this limit. Even people working from home have little trouble putting 15,000 miles on their cars.

If you exceed the mileage limit, the penalty for each excess mile can be as high as 20 cents. This can add up quickly over the length of your lease: an additional 4,000 miles a year over the length of a 3-years lease contract, will end up costing you an extra $2,400 in excess mileage charges! Be realistic about your mileage needs, especially if you have to regularly commute over long-distances, before you sign the contract. Consider padding the miles that you expect to use since it is less expensive to contract for the extra before you sign than it is to pay the extra charges at end of your lease.

Sales Tax

Sales tax is usually capitalized and added to the monthly payments. However, some dealers choose not to include it in their calculations to drive the advertised lease payments even lower. What they do instead is state in the small print that the monthly payment excludes “sales tax”. Make sure you carefully read the fine print for any extra, hidden costs not included in the advertised monthly payment. Unscrupulous fees that typically slip through the cracks include sales tax, registration and title fees.

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How to get out of a lease before your contract expires


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When your lease is up, you can simply turn in the keys and lease another car or buy a new one. But how about getting out before the lease ends? Maybe you can’t afford the sky-high payments on that silky Jaguar JX V6 model anymore or you’ve just had a baby and you need a larger and more spacious vehicle?

Unfortunately getting out of a lease is not as easy as getting in! A leasing contract is difficult and expensive to terminate early. Simply turning in the keys and walking away from a lease can result in stiff penalties. You credit could be ruined and you could even get sued for breach of contract.

It’s not all doom and gloom though. Actually, there is a number of options available to you. You can sell the car yourself and pay off the bank. This can be cost effective if the market value of the car is close to the buy-out number. Do not hesitate to exercise this option even at a loss if it happens to be lower than the termination fee.

Your best option, though, is to transfer your lease for someone who would “assume it” and take it off your hands. There is a whole set of potential buyers looking for short-term leases without all the hassle and extra costs. Check with family and friends or use the services of lease-assumption websites, like swapalease.com, to list your car. Make sure you check the credit worthiness of the new lessee and provide the car in good condition.

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How to lease a new car?


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Whether you lease a car to get into the latest models or have better purchasing flexibility, getting a good deal is always bound to give you a lift. Use these guidelines to help you spot one:

Check incentives: be on the look-out for factory –subsidized lease deals. Car manufacturers realise that consumers who lease vehicles from them are more likely to be repeat customers than those who simply purchase vehicles. Through their leasing companies, they adjust the residual value and offer low financing charge. Other auto-manufacturers are also starting to give incentives on leasing, called leasing subventions. They offer these subsidies to put slow-selling models on the street, saving you even more money.

Set up a competitive bidding environment to get the lowest price. If you already have an idea in mind of the make, model and trim level of your desired car, attempt to calculate your own lease payment before you go shopping to avoid paying through the roof. Check online comparison tools or use a lease calculator to check your lease payment based on purchase price. This gives you greater negotiation leverage as you solicit quotes from various leasing companies.

Make sure you know all the fees involved at the beginning of your lease: you may have to pay fees for licenses, registration and title. Other fees include acquisition fees, freight fees and local or state taxes. At lease-end, you may have to pay a disposition fee and charges for extra mileage and any excess wear. Be aware that some of these fees – like acquisition and disposition fees – are negotiable.

Know your mileage needs: almost all leases limit the number of miles per year by imposing typically 10 to 20 cents per excess mile over 15,000 miles a year. If you are the kind of high-commuter who puts 40,000 miles a year on his car, then you might end up running thousands of dollars in hefty penalties at the end of your lease. Be smart and negotiate a higher-mileage limit or pad you excess miles at the beginning of your lease to avoid robber tax rates for excess miles.

Almost all leases limit the number of miles per year by imposing fees typically 10 to 20 cents per mile over 15,000 miles per year. If you are the kind of high-commuter who puts a lot miles on his car, then these costs can add up quickly. Negotiate

Include GAP coverage: make sure your lease includes GAP coverage. This covers you in the event of the vehicle getting wrecked, stolen or totalled. Without GAP insurance, you leave yourself wide open to thousands of dollars in leased obligations. Check if the GAP coverage is included so you don’t pay it twice.

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