I am so excited that day because it was the time that my father is going to drive the new bought car for me.
Actually, it was a surprise gift to me because I passed the licensure examination for nurses. But my young brother revealed to me of our parent’s plan to buy a brand new [...]
In over a dozen class-action lawsuits, leasing companies have been accused of violating consumer lending laws by charging excessive early-termination penalties on leases. According to plaintiffs’ attorneys, leasing companies are not allowed to collect more than three times the monthly payment as a penalty. In many cases, companies were making their customers pay penalties of [...]
In 1996, five automakers were charged by the Federal Trade Commission with using deceptive advertising to market leases. General Motors, Mitsubishi Motor Sales of America, Mazda Motor of America, American Isuzu Motors, and American Honda Motor Co. were all accused of not providing proper disclosure in their television ads, making it difficult for consumers to [...]
Leasing companies (including the ones that are owned by automakers) have two reasons to love leasing. First, it allows them to make a lot more interest on every car they finance, since less principal is being paid off in every lease payment.
For example, on $20,000 loan and lease balances, at 8% for 3 years (50% [...]