Welcome to Car Buying Guide
Buy Car New Where Article
With this article on car buying and leasing options, I hope it provides all the required information.
"Leasing Options"
Some people would rather lease than buy, and there are as many reasons to lease as there are not to. Car buying costs a lot of money, and you have no restrictions on mileage or anything else, but a lease is really just a way of renting a car for a long time. If you are worried that your car will not be worth much by the time it is paid off, or if you just have new car fever and cannot commit to one car for several years, leasing might be your thing.There are open leases and closed leases. With a closed lease, you can just return the car at the end of the agreement, or you can then choose to buy it. This type of lease is popular, as the cost of the car has already been determined before you leased it, and you can then pay the balance and own the car if you like it. Should you exceed the allotted mileage or put a lot of wear on the vehicle, you could still be held responsible for extra charges though, and that is one reason why many people choose not to lease. The open lease is used mainly for businesses, who often put much more wear on a car than a private individual would. With an open lease, the value of the car is determined after the contract is up, then compared to the initial estimate. If the pre-determined value is more than the value determined at the end of the lease, you will have to pay the difference. Obviously not a good idea for the average citizen.
Looking for something logical on car buying v's leasing, I stumbled on the information provided here.
Leasing has some good advantages. Because you are paying only for the time that you have the car, the payments are generally substantially less than buying the car outright. The leasing company gets the rest of the money by selling the car after your contract is up. This means that you can drive a much nicer car when leasing than if you were buying. Not only that, but the down payment is reduced as well, though you can, if you have it, pay more on the down payment and reduce the monthly payments some. In a time of high interest rates, a lease may offer lower monthly payments, especially with good credit. You also gain a tax advantage in that you do not have to pay the whole tax on the vehicle, only the portion that you are using. Sales tax is reduced as well, in the same way. Maintenance is another factor to consider. The manufacturer’s warranty will cover all major repairs for you, no matter what happens (short of you wrecking the car). When the lease is up, just take the car back, and you are free to lease another, brand new car, and are relieved of the burden of trying to sell it to someone else. If you're self-employed, you can write off your leasing payment as a business expense.
You should also be aware of some of the pitfalls to leasing. If, for just about any reason you have to terminate the lease prematurely, it is going to cost you. Any number of things could happen, like you total the vehicle, or it gets stolen and never found. In that case, you are out of a car and will be responsible for the balance of the lease. There are leasing companies that offer a gap insurance that will give you protection should something bad happen. It’s worth looking into if the leasing company has it. You might end up paying more in insurance than what you are accustomed to with a lease, as many leasing companies require certain types of insurance. Mileage is another thing to think about, usually it is only 12,000 to 15,000 miles per year, and if you go over you have to pay per mile. The rate per mile is up to the leasing company, so find out these things in advance if you intend to lease. You also have to watch excessive wear and tear, and different companies will define this in different ways, but it can cost you big time if you interpret it differently than the leasing company does. However, not all companies have the same terms, so check first.
There are a lot of things to consider when making the decision to buy or lease, and hopefully I've given you something to think about. Do your research and by all means, try to find someone who has leased before and ask them about the experience. Only you can decide whether leasing or buying a new car is the right thing to do.
Keeping in mind the important points about car buying v's leasing, I hope this article proved to be very informative.
Buy Car New Where Best products
Buy Car New Where News
After 50 years Cubans can now buy new cars - Stuff.co.nz
 Stuff.co.nz | After 50 years Cubans can now buy new cars Stuff.co.nz CLASSICS: Several early model American-made cars wait to be rented in Havana, Cuba. For the first time in 50 years, it is now fashionable and legal to own a new or near-new car in communist Cuba. The country legalised the sale and purchase of ... |
Waterloo opens bids on new police squad cars - Waterloo Cedar Falls Courier
Waterloo opens bids on new police squad cars Waterloo Cedar Falls Courier WATERLOO, Iowa --- The Waterloo Police Department's fleet of squad cars will be taking on a new look this year. City Council members opened bids Monday to buy six new Ford Police Interceptors as patrol vehicles. Ford has retired the ubiquitous Crown ... |
How do I compare quotes for a new family vehicle? - Fox Business
How do I compare quotes for a new family vehicle? Fox Business Question: I'm looking to buy a family car. Which is cheaper to insure, a minivan Toyota Sienna (2011) or a station wagon, like a Volvo V50 (2011)? It will primarily be my wife's car, who is 40 and has a clean driving record (we both do). |
Sales of new and used cars rise in 2011, boosting sellers - Las Vegas Review - Journal
 ABC2 News | Sales of new and used cars rise in 2011, boosting sellers Las Vegas Review - Journal "To get back to 17 million, we certainly will need to see the subprime category pick back up. As the economy improves, the ability of subprime borrowers to get financing will increase." Taylor said the 2011 supply of new cars was constrained by the ... Used cars are in short supply, more expensive |
Like the Car in the Ad? Better Read the Fine Print - New York Times (blog)
 FOXSports.com | Like the Car in the Ad? Better Read the Fine Print New York Times (blog) In case you're now thinking of heading out to a dealership to check out a new ride, automotive Web site Edmunds.com offers some advertising reality checks. You might assume that you could buy the car pictured at the price shown. You would be wrong. Super Bowl 2012 Car Ad Watch: Dogs Rule, Adriana Lima Drools? New, "substantive" Super Bowl commercials just like the mindless old ones Super Bowl XLVI: Live Blogging the Ads |
Michigan soldier picks up new Camaro - WDIV Detroit
Michigan soldier picks up new Camaro WDIV Detroit Dr. Shawn M. Dunn was serving her country overseas, she began putting the wheels in motion for the brand-new Chevrolet Camaro she planned to buy upon her return to Michigan. "The Camaro was the only car she was interested in," said Dennis Tap, ... |