Used Car Leasing: Yes, You Can Do It - And It's On The Rise

Unbeknown to many consumers is that you can actually lease a used car. And when you think about it, the whole idea makes complete sense.

A 1 year old used car has already encountered the dramatic first year of depreciation. In years, two through four, a car depreciates far less and as a result, you get a great 'new' car for about 20-30% of the money.

According to used leasing expert David Ruggles of the Autos And Economics Blog, used car leasing is the way of the future for many consumers. "In a tight economy, car buyers are looking for new ways to drive more car for their money. A 2010 Infiniti G37 Coupe 2dr Sport can be leased at 48 months for about $575 per month. If you leased a 2009 version of the G37, for 36 months, the lease payment would run about $436 per month - a savings of almost 25%."

And as we move toward the second half of 2010, Art Spinella of CNW Research reports there were almost 80,000 used vehicles leased last month.

Here is more from our friends at Cherokee Publishing: CNW Research Reports Positive April Gains for Used Car Leases

Expert Opinions on Toyota

Dr. Mike Smitka is one of the world-renowned experts on the Japanese automotive business. I met him through David Ruggles who shares the rights to their AutosAndEconomics blog on Google Blogger.

Check out Smitka's latest take on Toyta and let me know what you think!

Seller Beware!

Long time away from the blogging scene. With the holidays and hunting season in full swing, it's been a busy December and January. Alas, my hunting seasons are mostly over and the corners of my mind are again filled with all things auto retail.

And with that, another disturbing online scam is surfacing as told to me by good friend David Ruggles of the Ruggles Report.

In short, DO NOT trust the validity of any bank cashier's check without first verifying the funds with the distributing bank. With current technology, even a cashier's check is easy to forge and it is YOUR responsibility to verify its validity prior to deposit.

The cashier's check scam can occur with any online sale. However, the inherently high price of a vehicle lends this to remarkable exposure for those wishing to sell cars online.

In the case told to me by Ruggles, members of his Mercedes owners club in Las Vegas, who have posted cars for sale online (i.e. Craig's List, eBay, etc...) have received emails from foreign buyer's saying they saw the car online and it is exactly what they've been looking for. They are willing to pay full price and arrange for transportation.

They state they will send a cashier's check for the amount of purchase plus shipping. All the buyer needs to do is pay the shipping agent upon pick up and deposit the cashier's check in their bank account.

This all seems easy and quite reasonable.

DON'T DO IT! At least without dotting your I's and crossing your T's.

Be very suspicious of someone willing to pay your price in full without ever seeing the vehicle. Be aware of complicated stories about why they are willing to buy the vehicle sight unseen or if they don't make any effort to confirm the car's condition.

Otherwise, you may find yourself without your car and out the money you paid to the shipping company.

AutoBidsOnline Car of the Week - 09 Infiniti G37

2009 Infiniti G37 4dr Sedan x AWD

This week’s AutoBidsOnline spotlight on the best and brightest in the new car market takes a look at the 2009 Infiniti G37 4dr Sedan x AWD. The G37 continues to lead the way with a stunning array of features including ultra-comfortable seats, an elegant interior and very impressive audio systems. This vehicle stands out for offering overall performance at the top of its class.

"The G-Series line has a 3.7L V6 engine paired with an electronically controlled 7-speed transmission," said Jeff Cook, President of AutoBidsOnline.com. “The AWD x model is a great ride, especially for those of who live in cold weather climates.”

“New to the Infiniti lineup in 2009, the G37 packs a whollup with 330 horsepower and 270 lb. feet of torque. It delivers outstanding performance without reducing driver comfort,” says Cook.

Noted industry expert David Ruggles of the Ruggles Report speaks well of the G37’s resale value: “The 36 month residual of 50% is the strongest we’ve looked at thus far in this series. Like many import OEM's, Infiniti does not sabatoge their vehicles resale value with large up front rebates and incentives. Instead, they let the car's value stand on its own. As such, the G37 should hold up well over time and find owners in an excellent value position when it comes time to trade up for their next new car.”

CHROME REVIEW: None Available

DETAILS:
Invoice/MSRP: $33,029 / $35,750

Current TrueCar Good Price: $34,787 ($893 above invoice)
Current Edmunds.com TMV: $34,266

MPG HWY: 25 mpg
MPG City: 17 mpg

CURRENT REBATES & INCENTIVES: None.

WARRANTY: 4 years / 60,000 miles

RESIDUAL OUTLOOK: Excellent

COMPARABLE VEHICLES: Acura TL, BMW 3-Series, Hyundai Genesis

HOW TO GET BEST PRICE: Competitive pressure will always yield the best possible price. If you are looking to get the new Infiniti G37, you would be well served to visit several Infiniti dealers and go armed with as much information as possible.

Our friends at Edmunds.com and TrueCar.com have each performed significant research in stating their thoughts on the real market value of the G37.

However, if you don’t have the time or desire to invest hours in onsite dealer negotiations, you can join AutoBidsOnline.com and set your own price with our new AutoBidIt! feature. It’s all very easy:

1. Build out the exact car you want.
2. Determine the price you are willing to pay.
3. AutoBidIt!

AutoBidsOnline dealers are pre-screened for best of breed business practices and all are committed to straight-forward negotiation and transparent pricing. They will compete to be the first to meet your no-obligation bid as only the first dealer to do so will get your business.