With this post we’ll change speeds and look at one of the big expenses in life: your car. Using this one hot tip find out how you can maximize the payout from your next car purchase.
The secret: Lease Busters
I know what you may be thinking: That’s no secret, I’ve heard of LeaseBusters.com for a long time. If that’s true, why haven’t you used it yet?
For those who don’t know, LeaseBusters.com is a site where people in Canada who want to get out of their car lease connect with people who are looking for leases. The “lease sellers” post their car’s details, plus any other incentive (this is where it gets exciting).
Incentives are usually cash payouts of thousands of dollars. The savvy investor that you are (I know you’re savvy because you keep up to date on weblogs like this one), you realize that there are a number of benefits:
1. The cash
The cash that you get for taking the lease off of the lease seller’s hands can be immediately put towards any high interest creditcard payments. We all know that credit card debt is the silent killer, this money can help you fight back!
2. A shorter lease term
Aside from the cash, your lease term will be much shorter than the term usually allowed by the dealerships. The majority of leases on the site have fewer than 15 months on the contract. Plus, you still have the flexibility of re-upping once the contract is over; although it may be a better idea to check back with LeaseBusters.com and get a new lease with new incentives.
3. No start-up costs, potential deposit returns
Picking up someone’s lease is much cleaner than signing a new lease agreement. The previous leaser has paid all of the start-up costs, plus, any left over deposits would belong to whoever holds the lease when the deposit is due back.
Though there are many advantages, there are a few downfalls that you want to be aware of:
1. Be sure to check how many kilometers are left on the lease, and how much it costs/km if you surpass that level. One of the reasons why people try to get rid of the leases is because they drive so much that they’ll have to write a fat check to the dealership if they continue driving the car. If you drive fewer km/day then they do, you can benefit from their miscalculation when they signed the lease.
2. REMEMBER YOU ARE RESPONSIBLE for the condition of the car when you return it to the dealership. Be sure to have the car inspected before you buy it. Spending a few hundred dollars to get a complete diagnostic of the car, inside and outside, could save you thousands when you return the car to the dealership.
On a final note, I want to remind you that you CAN NEGOTIATE with people who have posted their cars on leasebusters.com. One thing that a lot of posters will accept is to pay for the car’s inspection: remember, be reasonable in your negotiations and you will end up on top.
There it is, a quick and simple way to save thousands, maintain supreme flexibility, and to have a new car every year. I’m always at your service via email, thanks for reading. 
Ares
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