Let’s calculate how much the cost component of the image. Suppose a foreign car after three years of service would be valued at $ 15 thousand, of which $ 7 thousand will go to the full repayment of the debt. During the three years of its lease with an initial contribution has already cost $ 40 thousand – and more of the machines do not see. But the $ 8 thousand enroll in advance for the second car. If its value is similar to the first and then the left, too, about $ 7 thousand, for the next three years, Auto Leasing will cost another $ 30-32 thousand (plus the balance of the debt). Because of this high cost sharing, this option does not expand. Not everyone will be able to fingerprints on foreign cars is only 3 years to sell it again to start paying interest.
Car Lease for salvation
Auto Leasing can be the salvation for those who have been denied credit. In Car Financing structures are ready to provide services with all client’s income and largely loyal to the documentation. But this does not mean that Auto Leasing companies will give away cars left and right. About that, on what resources the client will pay the lease, interest in the individual interviews. Ratings subject to all – from the external presentability to the availability of securities and real estate. In addition, Car Lease is characterized by high initial payment: 25-30 per cent.
As with car auto loans, Auto Leasing services in the near future will not be cheaper. But at the beginning of 2008, the experts did not intend to exclude lower cost car loans at 1-1.5%. Approximately the same number can be reduced and the interest in Car Financing. In the long run, Auto Leasing, such as in the U.S. can do to replace the car auto loans.
The volume of consumer lending in the U.S. unexpectedly rose in September after a record drop in August, reports Bloomberg.
According to the U.S. Federal Reserve, this figure increased to 6.9 billion dollars in annual terms (3.2 percent). – Up to 2.59 trillion dollars, while analysts were not expecting changes from the previous month.
According to the revised data, the volume of lending in August fell by 6.3 dollars, the biggest drop since the beginning of tracking these data in 1943. It was reported earlier to reduce this figure to 7.9 billion dollars
Despite some growth in consumer lending, these data continue to reflect a reduction in credit availability that force as an ordinary consumer and business representatives to reduce their costs. The loss of 1.2 million jobs in 2008 will worsen the economic outlook, confirming expectations of a significant downturn in the U.S..
“Credit is difficult to obtain, and perhaps it will be even harder in the future”, – said chief financial economist at Bank of Tokyo-Mitsubishi UFJ, Chris Rupki.
The volume of revolving credit lines (such as credit cards) rose in September at 954 million dollars, non-renewable, including auto car loans, rose by 5.9 billion dollars.