Automobile (Leasing) - Revision history

Cicjscribner at 19:03, 2 March 2011

2011-03-02T19:03:28Z

← Older revision		Revision as of 19:03, 2 March 2011
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		+	<p>[[File:Whitebox.jpg\|735-Other State Agencies\|link=_Hint]] </p>
		+
	{\| align="center" border = 0		{\| align="center" border = 0
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Cicjscribner at 16:10, 7 September 2010

2010-09-07T16:10:45Z

← Older revision		Revision as of 16:10, 7 September 2010
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	'''Consumers should be aware that:'''<br>		'''Consumers should be aware that:'''<br>

-	<p>1. There is no "cooling off" period for automobile sales or leases. You cannot change your mind after you sign the agreement.</p>	+	<p>1. There is no "cooling off" period for automobile sales or leases. You cannot change your mind after you sign the agreement.</p>
		+
	<p>2. Negotiate the price of the vehicle (called "capitalized cost") just as in a purchase situation. The capitalized cost of the vehicle is one of the factors that affects the monthly lease payment.</p>		<p>2. Negotiate the price of the vehicle (called "capitalized cost") just as in a purchase situation. The capitalized cost of the vehicle is one of the factors that affects the monthly lease payment.</p>
-	<p>3. Consider selling a "trade-in" to a private party rather than trading it as part of the lease transaction; the dealer may not offer as much as the trade-in is worth.</p>	+
		+	<p>3. Consider selling a "trade-in" to a private party rather than trading it as part of the lease transaction; the dealer may not offer as much as the trade-in is worth.</p>
		+
	<p>4. Compare the proposed lease terms with purchase terms. If you have to pay a large capitalized cost reduction (similar to a down payment) and the monthly payments are nearly as large as they would be under a loan for purchase, you will have lost the main advantage of leasing.</p>		<p>4. Compare the proposed lease terms with purchase terms. If you have to pay a large capitalized cost reduction (similar to a down payment) and the monthly payments are nearly as large as they would be under a loan for purchase, you will have lost the main advantage of leasing.</p>
		+
	<p>5. Understand the early termination penalties, as well as contract terms of the condition of the vehicle at the end of the lease, charges for mileage above the contracted number, and restrictions.</p><br>		<p>5. Understand the early termination penalties, as well as contract terms of the condition of the vehicle at the end of the lease, charges for mileage above the contracted number, and restrictions.</p><br>


-	'''Department of Justice'''<br>	+	'''<font color="#4AA02C">Department of Justice</font color="#4AA02C">'''<br>
	1300 I Street<br>		1300 I Street<br>
	PO BOX 944255<br>		PO BOX 944255<br>
Line 39:		Line 43:


-	''''New Motor Vehicle Board'''<br>	+	'''<font color="#4AA02C">New Motor Vehicle Board</font color="#4AA02C">'''<br>
	1507 21st Street, Suite 330<br>		1507 21st Street, Suite 330<br>
	Sacramento, CA 95814<br>		Sacramento, CA 95814<br>

Cicjscribner at 21:34, 20 July 2010

2010-07-20T21:34:39Z

← Older revision		Revision as of 21:34, 20 July 2010
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	<p>Civil Code Sections 2985.7 - 2991</p><br>		<p>Civil Code Sections 2985.7 - 2991</p><br>

-	<p>Both federal and state laws govern consumer leases of motor vehicles where duration exceeds four months. Before signing a lease, consider the pros and cons of such an agreement and understand the contract terms as fully as possible. If you terminate early, you may pay a penalty. Don't sign unless you understand all of the lease terms. There is no "cooling off" period on lease agreements. If fraudulent business practices are being used, the [http://www.dmv.ca.gov/ California Department of Motor Vehicles (DMV)], the New Motor Vehicle Board, or the local district attorneys office may have jurisdiction over the matter.</p><br>	+	<p>Both federal and state laws govern consumer leases of motor vehicles where duration exceeds four months. Before signing a lease, consider the pros and cons of such an agreement and understand the contract terms as fully as possible. If you terminate early, you may pay a penalty. Don't sign unless you understand all of the lease terms. There is no "cooling off" period on lease agreements. If fraudulent business practices are being used, the [http://www.dmv.ca.gov/ '''California Department of Motor Vehicles (DMV)]''', the New Motor Vehicle Board, or the local district attorneys office may have jurisdiction over the matter.</p><br>


Line 33:		Line 33:
	(800) 952-5225 (CA Callers)<br>		(800) 952-5225 (CA Callers)<br>
	(916) 322-3360 (Out of State) <br>		(916) 322-3360 (Out of State) <br>
-	(916) 323-5341 ~~(fax)~~ <br>	+	(916) 323-5341 Fax <br>
	(800) 952-5548 (TDD in CA) <br>		(800) 952-5548 (TDD in CA) <br>
	(916) 324-5564 (TDD Out of State)<br>		(916) 324-5564 (TDD Out of State)<br>
-	[http://www.caag.state.ca.us/ caag.state.ca.us]<br>	+	[http://www.caag.state.ca.us/ '''www.caag.state.ca.us''']<br>


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	Sacramento, CA 95814<br>		Sacramento, CA 95814<br>
	(916) 445-1888<br>		(916) 445-1888<br>
-	(916) 323-1632 ~~(fax)~~<br>	+	(916) 323-1632 Fax<br>
-	(916) 323-1631 ~~(fax)~~<br>	+	(916) 323-1631 Fax<br>



	<p>'''Department Publications:''' California Lemon Law and Consumer Resource Handbook</p>		<p>'''Department Publications:''' California Lemon Law and Consumer Resource Handbook</p>
-	~~<p>'''Other Publications:''' None</p>~~	+
-	~~<p>'''Other References:''' None</p>~~	+


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	<p>[[file:green_arrow.jpg\|link=http://www.dca.ca.gov/publications/guide/index.shtml\|Consumer Resource & Referral Guide]]		<p>[[file:green_arrow.jpg\|link=http://www.dca.ca.gov/publications/guide/index.shtml\|Consumer Resource & Referral Guide]]
	Consumer Resource & Referral Guide<br>		Consumer Resource & Referral Guide<br>
-	[[file:green_arrow.jpg\|link=http://www.ca.gov/~~About~~/~~Government/agencyindex~~.~~html~~\|Directory of State Agencies ]]	+	[[file:green_arrow.jpg\|link=http://www.ca.gov/CaSearch/Agencies.aspx\|Directory of State Agencies ]]
	Directory of State Agencies<br>		Directory of State Agencies<br>
	[[file:green_arrow.jpg\|link=http://www.dca.ca.gov/consumer/links_federal.shtml\|Directory of Federal Agencies]]		[[file:green_arrow.jpg\|link=http://www.dca.ca.gov/consumer/links_federal.shtml\|Directory of Federal Agencies]]

Cicjscribner at 18:45, 9 June 2010

2010-06-09T18:45:34Z

← Older revision		Revision as of 18:45, 9 June 2010
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	(800) 952-5548 (TDD in CA) <br>		(800) 952-5548 (TDD in CA) <br>
	(916) 324-5564 (TDD Out of State)<br>		(916) 324-5564 (TDD Out of State)<br>
-	[http://www. caag.state.ca.us/ caag.state.ca.us]<br>	+	[http://www.caag.state.ca.us/ caag.state.ca.us]<br>

Cicjscribner at 18:45, 9 June 2010

2010-06-09T18:45:13Z

← Older revision		Revision as of 18:45, 9 June 2010
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	(800) 952-5548 (TDD in CA) <br>		(800) 952-5548 (TDD in CA) <br>
	(916) 324-5564 (TDD Out of State)<br>		(916) 324-5564 (TDD Out of State)<br>
-	[http://www. caag.state.ca.us caag.state.ca.us]<br>	+	[http://www. caag.state.ca.us/ caag.state.ca.us]<br>

Cicjscribner: Created page with '{| align="center" border = 0 ! |- | {| border = 0 cellpadding="20" cellspacing="0" |- |

AUTOMOBILE (LEASING)

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2010-06-09T18:44:38Z

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Civil Code Sections 2985.7 - 2991 

Both federal and state laws govern consumer leases of motor vehicles where duration exceeds four months. Before signing a lease, consider the pros and cons of such an agreement and understand the contract terms as fully as possible. If you terminate early, you may pay a penalty. Don't sign unless you understand all of the lease terms. There is no "cooling off" period on lease agreements. If fraudulent business practices are being used, the [http://www.dmv.ca.gov/ California Department of Motor Vehicles (DMV)], the New Motor Vehicle Board, or the local district attorneys office may have jurisdiction over the matter. 

'''Consumers should be aware that:''' 

1. There is no "cooling off" period for automobile sales or leases. You cannot change your mind after you sign the agreement.
2. Negotiate the price of the vehicle (called "capitalized cost") just as in a purchase situation. The capitalized cost of the vehicle is one of the factors that affects the monthly lease payment.
3. Consider selling a "trade-in" to a private party rather than trading it as part of the lease transaction; the dealer may not offer as much as the trade-in is worth.
4. Compare the proposed lease terms with purchase terms. If you have to pay a large capitalized cost reduction (similar to a down payment) and the monthly payments are nearly as large as they would be under a loan for purchase, you will have lost the main advantage of leasing.
5. Understand the early termination penalties, as well as contract terms of the condition of the vehicle at the end of the lease, charges for mileage above the contracted number, and restrictions. 

'''Department of Justice''' 
1300 I Street 
PO BOX 944255 
Sacramento, CA 95814 
(800) 952-5225 (CA Callers) 
(916) 322-3360 (Out of State) 
(916) 323-5341 (fax) 
(800) 952-5548 (TDD in CA) 
(916) 324-5564 (TDD Out of State) 
[http://www. caag.state.ca.us caag.state.ca.us] 

''''New Motor Vehicle Board''' 
1507 21st Street, Suite 330 
Sacramento, CA 95814 
(916) 445-1888 
(916) 323-1632 (fax) 
(916) 323-1631 (fax) 

'''Department Publications:''' California Lemon Law and Consumer Resource Handbook
'''Other Publications:''' None
'''Other References:''' None

[[file:green_arrow.jpg|link=http://www.dca.ca.gov/publications/guide/index.shtml|Consumer Resource & Referral Guide]]
Consumer Resource & Referral Guide 
[[file:green_arrow.jpg|link=http://www.ca.gov/About/Government/agencyindex.html|Directory of State Agencies ]]
Directory of State Agencies 
[[file:green_arrow.jpg|link=http://www.dca.ca.gov/consumer/links_federal.shtml|Directory of Federal Agencies]]
Directory of Federal Agencies 
[[file:green_dca.jpg|link=http://www.dca.ca.gov/|Return to DCA Home Page]]
Return to DCA Home Page