NAIC Special Section: Long-Term Care Insurance # #naic, #national #association #of #insurance #commissioners, #insurance, #state #insurance, #insurance #regulators, #public #interest, #insurance #consumers, #insurance #institutions, #state #regulation #of #insurance, #long-term #care, #long-term #care #insurance, #home #health #care, #respite #care, #hospice #care, #adult #day #care, #care #in #a #nursing #home, #care #in #an #assisted #living #facility


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10 Things You Should Know About Buying Long-Term Care Insurance

Long-Term Care is Different From Traditional Medical Care
Someone with a prolonged physical illness, a disability or a cognitive impairment such as Alzheimer s disease often needs long-term care. Long-term care services may include help with daily activities, home health care, respite care, hospice care, adult day care, care in a nursing home or care in an assisted living facility.

Long-Term Care Can be Expensive
The cost depends on the amount and type of care you need and where you get it. In 2001, the national average cost of nursing home care was $56,000 per year, assisted living facilities reported $22,476 per year and home care costs ranged from $12,000 to $16,000 per year.

You Have Options When Paying for Long-Term Care
People pay for long-term care in a variety of ways. These include using personal resources, long-term care insurance and Medicaid for those who qualify. Medicare, Medicare supplement insurance and health insurance you may have at work usually will not pay for long-term care. Long-term care insurance will pay for some or all of your long-term care.

Decide Whether Long-Term Care Insurance is for You
Whether you should buy a long-term care insurance policy will depend on your age, health status overall retirement goals, income and assets. For instance, if your only source of income is a Social Security benefit or Supplemental Security Income (SSI), you probably should not buy long-term care insurance since you may not be able to afford the premium. On the other hand, if you have a large amount of assets but do not want to use them to pay for long-term care, you may want to buy a long-term care insurance policy. Many people buy a policy because they want to stay independent of government aid or the help of family. They don t want to burden anyone with having to care for them. However, you should not buy a policy if you can t afford the premium or are not sure you can pay the premium for the rest of your life.

Pre-Existing Condition Limitations
A long-term care insurance policy usually defines a pre-existing condition as one for which you received medical advice or treatment or had symptoms within a certain period before you applied for the policy. Some companies look further back in time than others. Many companies will sell a policy to someone with a pre-existing condition. However, the company may not pay benefits for long-term care related to that condition for a period after the policy goes into effect, usually six months. Some companies have longer pre-existing condition periods or none at all.

Know Where to Look for Long-Term Care Insurance
Long-term care insurance is available to you in several different forms. You can buy an individual policy from a private insurance company or agent, or you can buy coverage under a group policy through an employer or association membership. The federal government and several state governments offer long-term care insurance coverage to their employees, retirees and their families. You can also get long-term care benefits through a life insurance policy. Some states have long-term care insurance programs designed to help people with the financial impact of spending down to meet Medicaid eligibility standards. Check with your state insurance department or counseling program to see if these policies are available in your state.

Check With Several Companies and Agents
Contact several companies and agents before you buy a long-term care policy. Be sure to compare benefits, the types of facilities covered, limits on your coverage, what is not covered and the premium. Policies from different insurance companies often have the same coverage and benefits but may not cost the same. Be sure to ask companies about their rate increase history and whether they have increased the rates on the long-term care insurance policies.

Don t be Misled by Advertising
Most celebrity endorsers are professional actors paid to advertise, not insurance experts. It is also important to note that Medicare does not endorse or sell long-term care insurance policies, so be wary of advertising that suggests Medicare is involved. Do not trust cards you get in the mail that look like official government documents until you check with the government agency identified on the card.

Make Sure the Insurance Company is Reputable
To help you find out if an insurance company is reliable, you can take the following actions: Stop before you sign anything, call your state insurance department and confirm that the insurance company is licensed to do business in your state. After you make sure they are licensed, check the financial stability of the company by checking their ratings. You can get ratings from some insurer rating services for free at most public libraries.

Review Your Contract Carefully
When you purchase long-term care insurance, your company should send you a policy. You should read the policy and make certain you understand its contents. If you have questions about your insurance policy, contact your insurance agent for clarification. If you still have questions, turn to your state insurance department or insurance counseling program.

1990 – 2008 National Association of Insurance Commissioners. All rights reserved.
SM Insure U and Stop. Call. Confirm are registered service marks of the National Association of Insurance Commissioners.


Asthma And Allergy Center Of Whatcom County, P #medical #group, #health #care, #doctor, #physician, #long-term #care #facility, #medicare #certificated #provider


#

Asthma And Allergy Center Of Whatcom County, P.s.

share on Detailed information about Asthma And Allergy Center Of Whatcom County, P.s. in Bellingham Washington.

Asthma And Allergy Center Of Whatcom County, P.s. is a Medical Group that has only one practice medical office located in Bellingham WA. There is only one health care provider, specializing in Allergy/Immunology, being reported as a member of the medical group. Medical taxonomies which are covered by Asthma And Allergy Center Of Whatcom County, P.s. include Allergy & Immunology.

Doctors Health Care Providers

There is 1 member in Bellingham WA.

You can use use filter to narrow down the members list, showing only members that you want.

Doctor /Physician / Health care Provider Provider Name

Allopathic Osteopathic Physicians/Allergy Immunology

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Disclaimer

HealthCare4PPL.com does not provide medical advice, diagnosis or treatment. The information contained in this website is only for general information purposes. The information mainly comes from Centers for Medicare & Medicaid Services (CMS) published data, and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, user generated contents or related graphics or advertisings contained on the website for any purposes. Any reliance you place on such information is therefore strictly at your own risk. Use of this website constitutes acceptance of the Terms of Service and Privacy Policy .

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How To Prep Your Car for Long-Term Storage #compare.com #car #insurance


#car storage
#

How To Prep Your Car for Long-Term Storage

1 of 4

There are a number of times when people need to store a vehicle for an extended period of time. Maybe you have a convertible that you love to drive in the summer, but winter is on the way. Or perhaps you’re going to leave town for a job or an extended vacation. Maybe you are in the military and are being deployed overseas.

Whatever the reason for your time away from the vehicle, you’ll need to put it in storage. If you simply let your vehicle sit on the street or in a garage for an extended period of time, you may return to a dead battery or worse yet a damaged engine, ruined tires and a rat’s nest under your hood.

Here are important steps to take before you store a vehicle. They will preserve the life of the engine and ensure that your car starts when you return to it.

Keep It Covered

A garage is the ideal place to store a vehicle. This will protect it from the elements and keep it at a temperature that’s relatively stable. If you don’t have a garage and you can find accommodation at a reasonable price, consider putting the car in a public storage facility.

If you have to leave the car outdoors, consider getting a weatherproof car cover. This will help keep the car clean and dry.

Clean It Up

It may seem counterintuitive to get the car washed when you’re putting it away for months, but it is an easy step and one that shouldn’t be overlooked. Water stains or bird droppings left on the car can damage the paint. Make sure to clean the wheels and undersides of the fenders to get rid of mud, grease or tar. For added protection, give the car a coat of wax.

Change the Oil

Skip this step if you’re only storing the car for a week or two. Consider getting the oil changed if you will be storing the vehicle for longer than 30 days. Ford recommends this in its owner’s manuals, saying that used engine oil has contaminants that could damage the engine.

Top Off the Tank

This is another long-term car storage tip. Fill the tank with gas if you expect the car to be in storage for more than 30 days. This will prevent moisture from accumulating inside the fuel tank and keep the seals from drying out. You should also purchase a fuel stabilizer such as Sta-bil. to prevent ethanol buildup and protect the engine from gum, varnish and rust. The fuel stabilizer will prevent the gas from deteriorating for up to 12 months.

Keep It Charged

An unattended battery will eventually lose its charge. Get someone to start the car every two weeks and drive it for about 15 minutes, if possible. Driving the car periodically has several benefits. It will maintain the battery’s charge, help the car “stretch its legs” and keep the engine and other components properly lubricated. It is also a good idea to run the air-conditioner to keep the parts in working order and the air quality fresh.

If you cannot arrange for someone to start the car, there are two other options. The low-tech solution is to disconnect the negative battery cable. You’ll likely lose the stereo presets, time and other settings. If you want to keep those settings and ensure that your battery starts the moment you return, purchase a battery tender, also known as a trickle charger. This device hooks up to your car battery on one end and plugs into a wall outlet on the other. It delivers just enough electrical power to prevent the battery from discharging.

Don’t Use the Parking Brake

It’s usually a good idea to use the parking brake, but don’t do it when you leave a car in storage. If the brake pads make contact with the rotors for too long, there is a chance that they might fuse. Instead, purchase a tire stopper, also called a chock. to prevent the car from moving.

Prevent Flat Spots

Make sure your tires are inflated to the recommended tire pressure. If a vehicle is left stationary for too long, the tires could develop flat spots as the weight of the vehicle presses down on the tires’ footprints. This process occurs at a faster rate in colder temperatures and with vehicles equipped with performance tires or low-profile tires.

In some cases, simply having someone drive the car for a while will bring the tires up to their normal operating temperature and get rid of any flat spots. In more severe cases, a flat spot can become a permanent part of the tire and it will need to be replaced.

If your car will be in storage for more than 30 days, consider taking the wheels off and placing the car on jack stands at all four corners. This step requires more work, but it can save you from needing a new set of tires. Your tires will be in much better shape when you return if they haven’t had the weight of the vehicle resting on them for a month or more.

Keep Critters Out

A garage will keep your car dry and relatively warm. Unfortunately, those are also two things that make a garaged car attractive to rodents. There are plenty of places in your car for critters to hide, and plenty of things for them to chew on. Try to cover any gaps where a mouse could enter, such as the exhaust pipe or an air intake. Steel wool works well for this. Next, spread mothballs or cotton swabs dipped in peppermint oil along the perimeter of the vehicle. The smell is said to drive mice away.

If you want to take a more proactive approach, lay down a few mousetraps and some rat poison. Just make sure someone can check the garage periodically, in case there are some casualties. Otherwise, you’ll have to deal with a smell much worse than mothballs when you take the car out of storage.

Maintain Insurance

You might be tempted to cancel your auto insurance when your vehicle is in storage. Although that might initially save money, there is a chance that the insurance company will raise your rates due to the gap in coverage, which could cost you more in the long run. This can vary based on where you live and who your provider is, so contact your insurance company to see what options are available to you.

Get Back in Action

Here’s a checklist of what to do when you’re ready to bring your vehicle out of storage:

  • Check under the hood for any evidence of rodents. Look for chewed belts, hoses, wires or nests. If you covered the muffler or air intake, remove that material before you start the car.
  • Check the windshield wipers to see if the rubber is cracked or brittle.
  • Check tire pressure and inflate the tires to the recommended specs.
  • Check the brakes. Rust may have accumulated on the rotors. In most cases, this should go away after you drive the vehicle for a short time.
  • Check fluids to make sure there have been no leaks and that they are at the recommended levels.
  • If the battery cable has been disconnected, make sure that you reconnect it and that the battery terminals are clean.
  • Wash your vehicle to remove any dirt that may have accumulated.

MOHLTC – Emergency Health Services Branch – Main page #ontario #ministry #of #health #and #long-term #care,ontario,ministry #of #health,health,long-term #care,emergency #health #services,emergency,ambulance,equipment,air #ambulance,bandage #one


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Emergency Health Services Branch

Ontario’s Emergency Health Services (EHS) system is a series of interrelated land and air emergency medical services and programs designed to provide timely response and prehospital care.

The Emergency Health Services Branch achieves this by:

  • Overseeing air and land ambulance services, as well as the communications centres responsible for dispatching those ambulance services;
  • Managing and regulating the land ambulance services provided by upper tier municipalities and District Social Services Administration Board, as well as providing administrative, operational, and technical support of ambulance services;
  • Establishing standards for the management, operation, and use of ambulance services and assuring compliance with those standards;
  • Maintaining close working relationships:
    • with the municipalities and designated delivery agents responsible for the proper provision of land ambulance services;
    • with health care providers and facilities;
    • with ambulance communications centres, and
    • with other ministries and system stakeholders; and,
  • Monitoring, inspecting and evaluating ambulance services and investigating complaints respecting ambulance service delivery.

Emergency Health Services Branch also plays an important role in provincial emergency medical services by participating in internal government, local and national conferences, as well as working groups dedicated to emergency preparedness, emergency response and terrorism. Through the Government Mobile Communications Project, Emergency Health Services Branch is developing a common internal government communications infrastructure for Ministry of Health and Long-Term Care clients across the province.

Together, the balanced and integrated system of air ambulance, land ambulance, and ambulance communications services reduces mortality and morbidity due to sudden illness or injury by providing the regulatory framework and standards for ambulance services delivery. This ensures the public has access to rapid pre-hospital emergency medical intervention and safe, efficient transportation for emergency patients and medically essential non-emergency patients to and from health facilities.


The 4 Best Long-Term Car Rental Companies of 2015. #value #of #my #car


#best rental car rates
#

The 4 Best Long-Term Car Rental Companies

Latest Update November 11, 2015

Enterprise’s Month or More rental plan is ideal for those looking to save on a long-term car rental. The longer you rent with them, the more you save on your vehicle. In your second month, you receive $25 off your rates. Three months earns you $50 off and four or more months is worth a $75 discount. Enterprise also doesn’t charge their long-term customers for adding another driver to the rental agreement. Additional perks of Enterprise’s Month or More plan include free pickup, roadside assistance whenever you need it, and no-charge vehicle exchanges within the same car class. You can rent a car for up to 11 months in a row at any participating Enterprise rental car facility.

Editorial Note: The editorial content on this page is not provided by our advertisers. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser’s page for terms & conditions.


How To Prep Your Car for Long-Term Storage #discount #car #rental


#car storage
#

How To Prep Your Car for Long-Term Storage

1 of 4

There are a number of times when people need to store a vehicle for an extended period of time. Maybe you have a convertible that you love to drive in the summer, but winter is on the way. Or perhaps you’re going to leave town for a job or an extended vacation. Maybe you are in the military and are being deployed overseas.

Whatever the reason for your time away from the vehicle, you’ll need to put it in storage. If you simply let your vehicle sit on the street or in a garage for an extended period of time, you may return to a dead battery or worse yet a damaged engine, ruined tires and a rat’s nest under your hood.

Here are important steps to take before you store a vehicle. They will preserve the life of the engine and ensure that your car starts when you return to it.

Keep It Covered

A garage is the ideal place to store a vehicle. This will protect it from the elements and keep it at a temperature that’s relatively stable. If you don’t have a garage and you can find accommodation at a reasonable price, consider putting the car in a public storage facility.

If you have to leave the car outdoors, consider getting a weatherproof car cover. This will help keep the car clean and dry.

Clean It Up

It may seem counterintuitive to get the car washed when you’re putting it away for months, but it is an easy step and one that shouldn’t be overlooked. Water stains or bird droppings left on the car can damage the paint. Make sure to clean the wheels and undersides of the fenders to get rid of mud, grease or tar. For added protection, give the car a coat of wax.

Change the Oil

Skip this step if you’re only storing the car for a week or two. Consider getting the oil changed if you will be storing the vehicle for longer than 30 days. Ford recommends this in its owner’s manuals, saying that used engine oil has contaminants that could damage the engine.

Top Off the Tank

This is another long-term car storage tip. Fill the tank with gas if you expect the car to be in storage for more than 30 days. This will prevent moisture from accumulating inside the fuel tank and keep the seals from drying out. You should also purchase a fuel stabilizer such as Sta-bil. to prevent ethanol buildup and protect the engine from gum, varnish and rust. The fuel stabilizer will prevent the gas from deteriorating for up to 12 months.

Keep It Charged

An unattended battery will eventually lose its charge. Get someone to start the car every two weeks and drive it for about 15 minutes, if possible. Driving the car periodically has several benefits. It will maintain the battery’s charge, help the car “stretch its legs” and keep the engine and other components properly lubricated. It is also a good idea to run the air-conditioner to keep the parts in working order and the air quality fresh.

If you cannot arrange for someone to start the car, there are two other options. The low-tech solution is to disconnect the negative battery cable. You’ll likely lose the stereo presets, time and other settings. If you want to keep those settings and ensure that your battery starts the moment you return, purchase a battery tender, also known as a trickle charger. This device hooks up to your car battery on one end and plugs into a wall outlet on the other. It delivers just enough electrical power to prevent the battery from discharging.

Don’t Use the Parking Brake

It’s usually a good idea to use the parking brake, but don’t do it when you leave a car in storage. If the brake pads make contact with the rotors for too long, there is a chance that they might fuse. Instead, purchase a tire stopper, also called a chock. to prevent the car from moving.

Prevent Flat Spots

Make sure your tires are inflated to the recommended tire pressure. If a vehicle is left stationary for too long, the tires could develop flat spots as the weight of the vehicle presses down on the tires’ footprints. This process occurs at a faster rate in colder temperatures and with vehicles equipped with performance tires or low-profile tires.

In some cases, simply having someone drive the car for a while will bring the tires up to their normal operating temperature and get rid of any flat spots. In more severe cases, a flat spot can become a permanent part of the tire and it will need to be replaced.

If your car will be in storage for more than 30 days, consider taking the wheels off and placing the car on jack stands at all four corners. This step requires more work, but it can save you from needing a new set of tires. Your tires will be in much better shape when you return if they haven’t had the weight of the vehicle resting on them for a month or more.

Keep Critters Out

A garage will keep your car dry and relatively warm. Unfortunately, those are also two things that make a garaged car attractive to rodents. There are plenty of places in your car for critters to hide, and plenty of things for them to chew on. Try to cover any gaps where a mouse could enter, such as the exhaust pipe or an air intake. Steel wool works well for this. Next, spread mothballs or cotton swabs dipped in peppermint oil along the perimeter of the vehicle. The smell is said to drive mice away.

If you want to take a more proactive approach, lay down a few mousetraps and some rat poison. Just make sure someone can check the garage periodically, in case there are some casualties. Otherwise, you’ll have to deal with a smell much worse than mothballs when you take the car out of storage.

Maintain Insurance

You might be tempted to cancel your auto insurance when your vehicle is in storage. Although that might initially save money, there is a chance that the insurance company will raise your rates due to the gap in coverage, which could cost you more in the long run. This can vary based on where you live and who your provider is, so contact your insurance company to see what options are available to you.

Get Back in Action

Here’s a checklist of what to do when you’re ready to bring your vehicle out of storage:

  • Check under the hood for any evidence of rodents. Look for chewed belts, hoses, wires or nests. If you covered the muffler or air intake, remove that material before you start the car.
  • Check the windshield wipers to see if the rubber is cracked or brittle.
  • Check tire pressure and inflate the tires to the recommended specs.
  • Check the brakes. Rust may have accumulated on the rotors. In most cases, this should go away after you drive the vehicle for a short time.
  • Check fluids to make sure there have been no leaks and that they are at the recommended levels.
  • If the battery cable has been disconnected, make sure that you reconnect it and that the battery terminals are clean.
  • Wash your vehicle to remove any dirt that may have accumulated.

Long-Term Car Leases #car #insurance #groups


#short term car lease
#

Long-Term Car Leases

If you’re getting into the process of leasing a new vehicle, you’ll want to understand the difference between long-term and short-term car leases.

While there is no industry definition for a long-term lease, we consider a long-term lease is one that extends longer than 24 to 36 months (common car lease terms), and can last for as long as 5 years.

The most important thing to remember when considering leasing terms it that longer lease terms come with different advantages and disadvantages as compared to shorter lease terms.

Advantages of a Long-Term Lease

Leasing—whether short-term or long-term—includes several advantages, many of which are especially appealing if you want to drive a nicer car. You typically get all the warranties and benefits of buying a new car, without paying hefty down payments.

There are a few additional advantages to a long-term lease offers over short-term leases:

  • Lower monthly payments.
    • If you extend your lease out a few months or even an extra year or longer, you will find it easier to negotiate lower monthly payments.
  • More miles to drive.
    • Lease agreements always limit the number of miles you can put on the vehicle. However, if your leasing term is longer, the dealership should make an allowance for the higher number of miles you’ll put on your car during that extra time.
  • Improve your credit.
    • The longer you are in good standing by making your lease payments on time, the better your credit score will be at the end of your lease agreement. Extending it out a few months or a year or two might help you get a better interest rate as well.

Disadvantages of a Long-Term Lease

As with any financial agreement, there are also disadvantages to long-term leasing that are worth understanding and weighing against the benefits.

  • Higher overall cost :
    • Even though you may be able to negotiate lower monthly payments, you will in all likelihood pay more overall for the vehicle. This is because you will be paying interest for a longer period of time. albeit on a lesser amount of money.
  • Expensive repairs and maintenance :
    • Most car manufacturers have warranties that expire after a few years. If you’re leasing a car for longer than the warranty covers, you may find yourself having to pay for repairs or replacement of certain car parts .
  • Wear and tear penalties :
    • At the end of a lease, you are expected to return your vehicle in nearly new condition. The longer you have the car in your possession, however, the higher the risk you’ll dirty or damage something and have to pay fines for excessive wear and tear .
  • Mileage fees :
    • While your mileage may be slightly increased for a long-term lease, the longer you’re leasing, the greater the risk you’ll have to pay the leasing company for the number of miles you have gone over.

If you think leasing is right for you, consider both the pros and cons of long-term leasing carefully before you sign your contract. Once you’re in your lease, terminating a lease early can be tough and costly.


The 4 Best Long-Term Car Rental Companies of 2015. #car #radio


#best rental car rates
#

The 4 Best Long-Term Car Rental Companies

Latest Update November 11, 2015

Enterprise’s Month or More rental plan is ideal for those looking to save on a long-term car rental. The longer you rent with them, the more you save on your vehicle. In your second month, you receive $25 off your rates. Three months earns you $50 off and four or more months is worth a $75 discount. Enterprise also doesn’t charge their long-term customers for adding another driver to the rental agreement. Additional perks of Enterprise’s Month or More plan include free pickup, roadside assistance whenever you need it, and no-charge vehicle exchanges within the same car class. You can rent a car for up to 11 months in a row at any participating Enterprise rental car facility.

Editorial Note: The editorial content on this page is not provided by our advertisers. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser’s page for terms & conditions.


Is PCP finance a good deal in the long-term? #certified #used #cars


#car finance deals
#

Buying a new car on a PCP finance plan may not be the bargain you had hoped

4:46PM GMT 10 Mar 2014

Comments

The thousands of drivers who view the Personal Contract Purchase (PCP) as a cheap way of enjoying a new car for the foreseeable future could be in for a rude awakening.

The PCP is credited with the boom in new car sales. The Finance Leasing Association says last year 74.2 per cent of new cars were sold to private owners using credit, the majority on PCPs. But some are warning new car sales could later suffer when people experience the reality of how they work.

The PCP works by offering cars for a variable deposit at a monthly fee. At the end of the (usually) three-year period, customers either hand the car back, make a balloon payment and own the car outright, or put any equity they have in the car towards a new model. The last of these options is where problems can arise.

Every car sold through a PCP has a guaranteed future value (GFV). This is a forecast of the car s value after depreciation. However, the problems come with where the GFV is set and how customers expectations are managed.

Mark Norman, market analyst from CAP Automotive, said: We re seeing a lot of cars where the GFV is set very close to the actual value of the car. The problem comes when customers believe the value has been set to allow for equity in the car. The reality is there may not be any and the customer will have to find the deposit for its replacement from elsewhere.


Long-Term Car Leases #car #mats


#short term car lease
#

Long-Term Car Leases

If you’re getting into the process of leasing a new vehicle, you’ll want to understand the difference between long-term and short-term car leases.

While there is no industry definition for a long-term lease, we consider a long-term lease is one that extends longer than 24 to 36 months (common car lease terms), and can last for as long as 5 years.

The most important thing to remember when considering leasing terms it that longer lease terms come with different advantages and disadvantages as compared to shorter lease terms.

Advantages of a Long-Term Lease

Leasing—whether short-term or long-term—includes several advantages, many of which are especially appealing if you want to drive a nicer car. You typically get all the warranties and benefits of buying a new car, without paying hefty down payments.

There are a few additional advantages to a long-term lease offers over short-term leases:

  • Lower monthly payments.
    • If you extend your lease out a few months or even an extra year or longer, you will find it easier to negotiate lower monthly payments.
  • More miles to drive.
    • Lease agreements always limit the number of miles you can put on the vehicle. However, if your leasing term is longer, the dealership should make an allowance for the higher number of miles you’ll put on your car during that extra time.
  • Improve your credit.
    • The longer you are in good standing by making your lease payments on time, the better your credit score will be at the end of your lease agreement. Extending it out a few months or a year or two might help you get a better interest rate as well.

Disadvantages of a Long-Term Lease

As with any financial agreement, there are also disadvantages to long-term leasing that are worth understanding and weighing against the benefits.

  • Higher overall cost :
    • Even though you may be able to negotiate lower monthly payments, you will in all likelihood pay more overall for the vehicle. This is because you will be paying interest for a longer period of time. albeit on a lesser amount of money.
  • Expensive repairs and maintenance :
    • Most car manufacturers have warranties that expire after a few years. If you’re leasing a car for longer than the warranty covers, you may find yourself having to pay for repairs or replacement of certain car parts .
  • Wear and tear penalties :
    • At the end of a lease, you are expected to return your vehicle in nearly new condition. The longer you have the car in your possession, however, the higher the risk you’ll dirty or damage something and have to pay fines for excessive wear and tear .
  • Mileage fees :
    • While your mileage may be slightly increased for a long-term lease, the longer you’re leasing, the greater the risk you’ll have to pay the leasing company for the number of miles you have gone over.

If you think leasing is right for you, consider both the pros and cons of long-term leasing carefully before you sign your contract. Once you’re in your lease, terminating a lease early can be tough and costly.