iMotors

How imotors is able to offer such low lease rates ?

1. Negotiating power: imotors have negotiated favorable terms with the car manufacturers or financing companies that allow them to offer low lease rates. 2. Volume discounts: By leasing a large number of vehicles, imotors is able to secure volume discounts that translate into lower lease rates for their customers. 3.

How do I end my lease early?

As you probably already know, lease contracts are not designed to be easily or inexpensively terminated before the normal end date. However, you do have a number of options available to you that could minimize your costs and headaches. Unfortunately, an adequate discussion of these options would be too lengthy to present here.

Can I use my current car as trade-in on new lease ?

It depends. If your current car is paid for, you can certainly use it as a trade-in. Just be sure you know its fair trade-in value, and that the dealer gives you full credit when your lease payments are calculated. If you still owe on your car, you will want to get the “payoff” from your finance company and compare that amount to the trade-in value of the car.

How does sales tax apply for a car lease?

Sales tax laws can be quite different between states and localities. Most states simply apply the local sales tax rate to each monthly lease payment. A few states want all sales tax paid up front, based on the value of the vehicle or the sum of all monthly payments.

Do I pay interest on a car lease ?

Yes, but it’s a little different than for a loan. You always pay a finance fee, called money factor, on a car lease just as you pay a finance fee, called interest, on a car loan. Money factor is expressed as a very small number such as .00175 but can be converted to APR interest rate by multiplying by 2400. For example, a lease money factor of .00175 is equivalent to 4.2% APR interest rate.