Leases seem to be quite a straightforward affair for many of you. You sign an agreement or contract to pay a certain sum of money every month and as such, the auto dealership hands you over the car keys. You are free to use the vehicle for a specific number of miles over a fixed period of time. It is understood that at the end of the lease period, you need to return the car without any worries regarding any costly repairs, resale value or maintenance. However, it is not an easy affair to keep track of your lease. You need to manage your car lease well.
The information age has changed the way we approach most issues. With the advent of smartphones and apps, we are now able to do almost everything by just tapping on a screen. Apps exist today to perform even the more mundane tasks like car leasing or managing car leases. If you are looking for apps which would help you with these, look no further.
PocketWear Car Lease Kit
A full-fledged lease management kit, it brings together seven tools vital to any lease owners. With it, you have a glossary of all complex terms and concepts related to the lease, can understand probable mistakes and avoid them, and can also find out if you are being misled by a dealer. It has been built keeping the needs of auto leasing consumers in the United States and Canada in mind.
Lease Miles is an app which allows any consumer who has a leased car to keep track of the mileage on the lease and also calculates the excess costs payable after the lease is over. The app is very intuitive and can adjust itself to your driving habits automatically. It calculates average miles you should be driving daily or monthly so you can understand if you stray beyond the average. The overage cost calculator is a great feature as it allows you to get an idea of exactly how much you would have to spend after the lease period is over.
Car Finance Tools
This is a great app if you are looking to get a loan or a lease on a vehicle and aren’t quite sure which way to go yet. It allows you to select and simulate an auto loan or lease and is able to fetch detailed metrics ranging from lease/loan breakdowns, estimates, amortization schedules and much more to help you understand exactly how things will be down the line once you take the lease. The best thing about the app is that it allows you to compare different loan and lease schemes side by side to understand which would be preferable for you.
Car Loan Calculator
Another useful app here is the Car Loan Calculator which allows the user to get a very accurate estimate of the costs incurred related to car loans. Besides the standard calculator mode, there is an Affordability Mode which allows you to figure out how much you can afford to borrow to spend on a vehicle. The app can simulate almost every auto leasing scenario imaginable, and provides a detailed breakdown of all payments and costs involved, a comparison feature, and a lot more.
An app drastically different from the others in this feature, Carticipate indirectly minimizes your lease miles to a large extent. Essentially, it allows you to find other Carticipate users in the same area whom you can carpool with. You could spread the word in your neighborhood and among friends, family and co-workers and carpool actively so as to be able to minimize the mileage used on your leased vehicle.
These are some of the most useful apps for consumers looking for car leases or ways to manage them better. You can keep tabs on your lease, understand how much you should use your vehicle in order to minimize extra costs, compare different schemes and do a whole lot more.
Author Bio: Chandler Hawthorne is a blogger and entrepreneur based in Detroit. He has worked in the private finance sector for the better part of a decade and is now actively writing about wealth management methods like tracking apps, consultants and other sites like http://leasequit.com/.