So, how can you get of your lease? You have several options available to you. Do it the right way and you’ll walk away from your lease with no future payments owed and the chance to get another car.

Prepare your vehicle — Just as you would do if you were to sell your car, you’ll want to get your vehicle ready to be transferred to a new owner. This means giving the car the best cleaning you can give it, cleaning it inside and out, even having the vehicle detailed. The person who is considering taking over your car won’t do so if the car has scratches, the carpet is worn or the seats are torn. Handle those repairs first.

Assess the tires — How much tread is left on the tires? If gently worn, then they’ll be ready for the new owner. Simply have the tires rotated and cleaned, and you’ll be good to go. If the tires are showing signs of extreme wear, then these will need to be replaced. Shop for new tires and have these installed before you market your car.

Take pictures — With your car now ready to be marketed, you’ll want to take pictures. Exterior shots should show the front, sides and rear of the car. Include the roof if there is a distinguishing feature such as a panoramic sun roof. Inside, you’ll want to show the front and back seating areas, the instrument panel and other features such as a close up of the navigation system, the fine wood trim and the flip and fold rear seat in action. Show close ups of your tires, the trunk or liftgate storage, among other features.

Market your car — You have some options for finding someone to take over your lease. Start with the people you know. Friends, family members and business associates might be interested in your ride. Your leasing company will have the final say when it comes to transferring the contract, and will require a credit check and transfer fees to be paid. Be careful — even with the contract transferred, the leasing company may still hold you responsible for payments if the new lessee defaults.

Considerations

You can get out of your lease contract in other ways too. You may be able to “pull ahead” with your lease and trade in your vehicle for another one. The terms of the original lease might be forgiven or rolled into the new deal. You can also try to sell the car and use the proceeds from that sale to pay off the leasing company. Or, you can purchase the car yourself.

Matthew C. Keegan is editor and publisher of “Auto Trends Magazine.” Matt is also a contributing writer for Andy’s Auto Sport and affiliated websites, an aftermarket supplier of quality auto parts including Ford Excursion parts and Ford Thunderbird parts.

See — 2012  Ford Fiesta Specs

For those of you who might not be sure exactly what “pragmatic” means (a/k/a, that really boring word), it’s actually just a “50-cent” word for “practical.” When one is pragmatic, however, it is said that the person is practical to the point that he pays little or no attention to ideas, opinions, or other things in the situation.

So, if you consider yourself pragmatic, especially when it comes to large purchases, here are four car specials that fit that word’s definition:

1. Buying incentives. These can include anything from 0.0% APR interest rates for new car purchases (if you qualify) to less than 1% APR for vehicle leases. Eligibility for incentives can depend on a number of factors such as your credit history, the type of vehicle you buy, whether you lease or purchase outright, and more. In addition to interest rate incentives, you may also be able to take advantage of dealer incentives. Make sure you look far into the incentives to see if they’re worth it, though.
2. Rebates. These can be as small as a few hundred dollars or as large as several thousand dollars or anywhere in between. Even the smaller amounts, however, may still be attractive because many are regular rebates paired with bonus rebates that are often of equal value (though some may be more or less). If this is the case, then, a regular rebate on a few hundred dollars when combined with a bonus rebate of the same price means you get an overall larger rebate. And, hey, anything helps.
3. Low interest rates if you don’t qualify for 0.0% APR. Even if you don’t qualify for 0.0% APR, if you have acceptable credit, you still may qualify for other low interest rates that many car companies are now offering. Again, some of these are lower than 1% APR.
4. Choosing a shorter financing period. Financing a new car for the shortest amount of time possible may help you get a lower interest rate.

There is nothing wrong with being pragmatic; in fact, it is probably a trait that more people could stand to cultivate. However, you shouldn’t let your pragmatism override your common sense or cause you to totally ignore a very good opportunity.

For example, you may be firmly rooted and grounded in your pragmatism when it comes to purchasing hybrid cars and understanding green car fuel economy. You may feel that too much is being made of environmental issues, and you are entitled to your opinion. But! What if you realize that purchasing a hybrid car may be in your best interest?

One reason might be because you have a short enough commute to make buying a hybrid a good deal because you can get to work and home on the electric power alone. This is just one example of a time when you might want to let your pragmatism extend to other areas.

As mentioned earlier, pragmatism can be a very positive trait, and if you possess it, then you probably make very wise decisions the majority of the time. This probably serves you well, especially in those such as buying a car.

You know that “ick factor” you get when you walk into a car dealership? Car salesmen have somewhat of a bad reputation, and truthfully, it’s not completely undeserved. Many salesmen will push you into a deal that’s not in your favor, but if you do the following steps, you’ll be able to beat them at their own game.

1. Do your research — Don’t walk into everything blindly. If you are prepared with all the specifics (what make, model and price you want), then you are more likely to be successful. They might try to sell you on extended warranties, but if you know what you want and are willing to pay for beforehand, then you will be better off.

2. Keep your mouth shut — Don’t let them know more than they need to. If you spill the news that your car is totaled and you need a new one today, they will bargain with you much differently if they think you’re looking for the best deal. The less you tell them about your situation, the better. Along with this principle, don’t be the one to speak first. If you take the time to think about things before responding, you bring the negotiation into your favor, as the salesperson will feel the need to sweeten the deal.

3. Shop with a friend – Or a spouse, whatever works for you. When you shop for cars with someone else, you alleviate some of the pressure. You’re more vulnerable by yourself, so if you want to avoid a quick decision, take a buddy with you. This also helps ensure the salesperson is more truthful with you, because he/she cannot just speak based on your opinion alone.

4. Be nice — Remember, just because they sell cars doesn’t make them a bad person and they deserve your kindness as much as anyone else. Maybe when they were looking at car sales jobs, they were hoping to end up somewhere else someday. Regardless, if you’re nice, you’re going to get a lot more cooperation from your salesperson.

5. Get your financing determined before you enter the dealership — You don’t actually have to have the loan in hand, but if you check with your credit union or bank to know what kind of rates you can get, you will be more prepared when the salesman starts talking numbers. If they can’t provide you with a better rate, then you can skip the in-house financing.

Just remember that you have the upper hand in the negotiation. You’re the one with the money, so you always have the power to walk away. To get the best deal on your car, keep these tips in mind and you’ll not only get the car you want, but the price that fits your needs.

Photo Credit: Atanasis

An orphan model such as the pictured Pontiac G8 can yield significant savings for new car buyers.

Coming off of one of the worst years in memory for car manufacturers means that new car buyers can expect to find some terrific deals when shopping for a new ride. If you are planning to buy a new car in the coming weeks or months, then you stand an excellent chance of driving off the dealer lot with a good buy, but only if you do your homework first.

Let’s take a look at some of the top car buying tips for 2010:

1. Shop on your own terms. Many people shop for a new car when they absolutely need a new one. Their old car may have died or they may have suddenly taken on a new job in a location where previously depended on public transportation is not available. For everyone else, a car purchase should be carefully considered and a purchase made without external pressures. You are much less likely to agree to a deal if you do not have the pressure of buying a new car hanging over your head.

2. What do you want? Before shopping for a new car, what kind of vehicle do you want? If you are trading your ride in for the latest version of your current vehicle, then the hard work is already done for you. However, if you plan on buying something new or different, there are more than 700 vehicles on the market. Narrow that list down by body style, price range, amenities, and brand.

3. Where will you buy it? Heading to your local dealership used to be your only option when it came to purchasing a new car. These days the internet has made it possible to shop online and across the country to hunt down the best deal, but so have car buying clubs from AAA, Sam’s Club, BJ’s Wholesale, Costco, and even some places of employment. You may need to pay an annual membership fee to join and you may be charged a search fee to help you locate a vehicle, but you could end up saving hundreds of dollars off the sticker price by using one of these services.

4. Check invoicing. Information revealing what your dealer pays for new cars, secret rebates from manufacturers, and other sales incentives can help you save money on your purchase. Consumer Reports, Edmunds, and Kelley Blue Book each offer information (for a small fee) on dealer invoicing, an invaluable tool to have on hand before you shop for a new car.

5. Consider a leftover. This year’s model may be the latest and the greatest, but it may not have the incentives matching a leftover vehicle from the previous model year. But it isn’t just 2009 models which are leftovers; in the coming weeks several 2011 models will hit the market which means that a number of 2010 vehicles will be considered last year’s model. Just remember that any older model, even new, has likely lost thousands of dollars in value due to a model year change over. $3000 off a sticker price may sound wonderful, but if the car has already decreased by $5000 or more, then you are not getting a bargain.

6. Should you buy an orphan? Now that General Motors has abandoned Pontiac and Saturn, dealerships are still trying to move 2009 models which remain unsold. GM incentivized dealers to the tune of $7000 to move these cars into rental fleets, therefore you can buy these barely used cars for a huge discount. Yes, the value of any Pontiac or Saturn has diminished considerably so be prepared to hold firm in your negotiations for an even better bargain or plan to look elsewhere.

7. Shop separately for a loan. If your dealer offers you a choice between a manufacturer’s rebate and a low interest rate auto loan, you are almost always better off taking the rebate and applying it to your purchase. Shop elsewhere for an auto loan, through your credit union or by finding the best deal through your bank. Your rate might be a bit higher than the auto financing company, but the rebate should more than offset the extra cost of financing your new car on your own.

8. Sell your used car separately. Trading in your used car for the new one almost always results in you losing a lot of money. Always negotiate the best deal for your new car first, before even considering your trade in. Once your new car deal has been finalized in writing, then and only then see what the dealer will give you for your old car. Chances are it will fetch significantly less than what you could get selling it on your own, so be prepared to market your old car yourself.

9. Remain aloof. Car dealers love it when their customers insist, “I must have that car!” Once you make that critical admission, then the salesman has you. Keep your feelings to yourself and be prepared to walk away if terms are unfavorable. Do not let your heart dictate what your head tells you is the right way to go!

The amount of time you put into your new car search should offer correspondingly good with your savings. Explore your options, complete your research, and go into the new car deal negotiation ready to stand your ground. Lastly, be prepared to look elsewhere if the dealer’s terms are nowhere near what you need.

Photo Credit: GM Corp.