CarsDirect.com Rolls Out Zero-Drive-Off Lease, Other Leasing Options in 39 States.Business Editors & Automotive Writers LOS ANGELES--(AutomotiveWire)--March 6, 2000 Customers Can Take Possession Without Opening Their Checkbooks As Leasing Programs Shift Into High Gear CarsDirect.com, the leading automotive e-tailer, today announced a "zero-drive-off" lease option that enables qualified customers in 39 states to accept delivery of a new car without any money changing hands at the point of delivery. The CarsDirect.com zero-drive-off lease, which is now available, requires no money up-front for customers with approved credit. Inception fees and first payment are capitalized and amortized over the lease term. CarsDirect.com is the first nationwide online service that provides consumers a complete car buying experience -- from research, pricing, customization and financing to flatbed delivery of the car to a home or office. "Our goal has always been to provide the consumer with speed, simplicity, convenience and great prices, and this lease program is another step in that direction," said Bob Brisco, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , CarsDirect.com. "Now, not only can consumers research, configure and order the car of their dreams without ever leaving home, they can take possession with absolutely no out-of-pocket expense when they get their car." Lease options range from 24 to 60 months, 12,000 or 15,000 miles per year, and the ability to pre-purchase extra miles up to a maximum of 20,000 allowable miles per year. The entire application takes place at the CarsDirect.com Web site, www.carsdirect.com. CarsDirect.com then confirms the details of the lease with a customer service specialist who can address questions about the entire transaction. In addition, visitors to the CarsDirect.com Web site now have access to two new tools to help them make the lease vs. loan decision. The first tool helps customers immediately identify for an entire range of vehicles that can be bought or leased for their desired monthly payment. A second tool is the side-by-side loan vs. lease calculator that enables shoppers to compare typical loan and lease payments for a particular vehicle. Shoppers can adjust fields in the calculator to approximate the desired lease or financing terms, local sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. rate and credit profile and watch the calculator dynamically update the monthly payment estimate. "Our leasing programs showcase our innovation and flexibility, and they reinforce our commitment to provide customers with objective information and hassle-free car-shopping experiences," Brisco said. "Leasing is a high priority for us. We will continue to develop new lease products and services to make financing more convenient for our customers," said Gene Schutt, CEO, CD1 Financial.com, the wholly owned lending and leasing unit of CarsDirect.com. "Leasing has become a popular finance option because it enables consumers to get `more' car for a given monthly payment, or have a smaller monthly payment for any given car." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Schutt, leasing can also mean less in the way of sales tax; access to lower interest rates, in some cases; the opportunity to "exchange" the car every few years for a newer model; and avoiding the bother of having to sell the car or negotiate a trade-in. In addition, tax benefits accrue to those who can count the monthly lease payment as a business expense; consumers are advised to check with their tax advisors for more information. CarsDirect.com offers lease options in the following states: Alabama, Arizona, California, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , New Jersey, New Mexico, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , North Dakota, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Oklahoma, Oregon, Pennsylvania, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , South Dakota, Tennessee, Vermont, Virginia, Washington, West Virginia Washington is a census-designated place (CDP) in Wood County, West Virginia, along the Ohio River. The population was 1,170 at the 2000 census. The CDP is home to the Washington Works, one of the largest single facilities of chemicals manufacturing giant DuPont. , Wisconsin and Wyoming. About CarsDirect.com With CarsDirect.com (http://www.carsdirect.com), shoppers can research, price, customize, order and finance a new car or truck over the Web -- selecting from among 2,500 makes and models by every major manufacturer. More than 2,000 franchised dealers are a part of CarsDirect.com's Priority Dealer Network. Based in Los Angeles, CarsDirect.com is an idealab! company. The company is also funded by idealab! Capital Partners, Primedia Ventures, Foundation Capital, MSD (MicroSoft Diagnostics) A utility that accompanied Windows 3.1 and DOS 6 that reported on the internal configuration of the PC. A variety of information on disks, video, drivers, IRQs and port addresses was provided. Capital LP, Goldman Sachs, Morgan Stanley Dean Witter, Hambrecht & Quist, E*O Investors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Oracle Corp., Liberty Digital, TMCT TMCT Trailer Mounted Communications Tower Ventures, East Peak Partners L.P, Hikari Tsushin and Soros Private Equity Partners LLC. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion