Month: June 2020

WHAT IS A DISPOSITION FEE ON A LEASE CONTRACT?

In a previous post on how auto leasing works, one of our “Terms to Know” was Disposition Fee. It was defined as: “Charged by some lessors for the privilege of returning the vehicle and walking away; the cost is spelled out in the lease contract, so you will know up front how much it will be.” Simply put, the disposition fee is charged by the lessor … Read More

How to trade in a car with negative equity

When you owe more than your vehicle is worth but still intend to trade in – and plenty of people do – then planning your next steps will help you to get the most out of the deal.* Learn how you can approach it, below. Rolling over your negative equity In this situation, it’s common for negative equity to be rolled into financing for the … Read More

What is a lien on a car?

If you’re approved for financing to purchase a vehicle, then you’ll probably encounter the term “lien.” The chances you’ll know what it means may not be so great, however. A lien on a car is like a safeguard for the lender or other interested party. When you take out the financing, a lien is created, which is the lender’s legal right to possession of the … Read More