When purchasing a new car, one of the main things to consider is whether to lease or buy the car. Although many people believe that leasing a car is more expensive and a waste of money, this is not always the case. Here is a look at buying versus leasing, and which option is right for you.
How long do you plan on keeping the car?
• Many years: Buy. If you will keep the car for years after it has been paid off, buying is the best option. This will allow you to one day own your car and be free of car payments, and will make the car less expensive than a lease.
• A few years: Lease. If you plan on trading in your car before it is paid off, as many people do, you are actually losing money. The ability to get a new car every couple years is one of the main benefits of a lease, so if you will be looking for a different car in a few years, leasing is the way to go.
How much can you afford?
• Low monthly payments and low maintenance: Lease. A major upside to a lease is the lower monthly cost. Leases typically have a lower down payment, monthly payment, and low maintenance fees. There are also no upfront sales taxes, and leasing a car can offer tax advantages for business owners.
• High monthly payments: Buy. If you can afford high monthly payments, you should be able to pay off a car relatively quickly. Just make sure you can also afford costly repairs after the warranty expires.
How far do you drive your car each year?
• Less than 15,000 miles: Lease. Most leases restrict the mileage you can put on a car each year to 15,000 miles, or sometimes less. But if you do not travel more than this, it will not be an issue.
• More than 15,000 miles: Buy. If you do go over the allotted mileage, you will be charged for each extra mile, which can really add up.
How well do you treat your car?
• Poorly: Buy. You will be responsible for any damage that is caused to a leased vehicle. So if you know that you do not have a good track record with cars, buying is your safest option. You should also buy if you want to do any customization.
• Well: Lease. If you keep your cars clean and take good care of them, there should not be any issues.
Wednesday, November 10, 2010
Buying vs. Leasing
When purchasing a new car, one of the main things to consider is whether to lease or buy the car. Although many people believe that leasing a car is more expensive and a waste of money, this is not always the case. Here is a look at buying versus leasing, and which option is right for you.
How long do you plan on keeping the car?
• Many years: Buy. If you will keep the car for years after it has been paid off, buying is the best option. This will allow you to one day own your car and be free of car payments, and will make the car less expensive than a lease.
• A few years: Lease. If you plan on trading in your car before it is paid off, as many people do, you are actually losing money. The ability to get a new car every couple years is one of the main benefits of a lease, so if you will be looking for a different car in a few years, leasing is the way to go.
How much can you afford?
• Low monthly payments and low maintenance: Lease. A major upside to a lease is the lower monthly cost. Leases typically have a lower down payment, monthly payment, and low maintenance fees. There are also no upfront sales taxes, and leasing a car can offer tax advantages for business owners.
• High monthly payments: Buy. If you can afford high monthly payments, you should be able to pay off a car relatively quickly. Just make sure you can also afford costly repairs after the warranty expires.
How far do you drive your car each year?
• Less than 15,000 miles: Lease. Most leases restrict the mileage you can put on a car each year to 15,000 miles, or sometimes less. But if you do not travel more than this, it will not be an issue.
• More than 15,000 miles: Buy. If you do go over the allotted mileage, you will be charged for each extra mile, which can really add up.
How well do you treat your car?
• Poorly: Buy. You will be responsible for any damage that is caused to a leased vehicle. So if you know that you do not have a good track record with cars, buying is your safest option. You should also buy if you want to do any customization.
• Well: Lease. If you keep your cars clean and take good care of them, there should not be any issues.
How long do you plan on keeping the car?
• Many years: Buy. If you will keep the car for years after it has been paid off, buying is the best option. This will allow you to one day own your car and be free of car payments, and will make the car less expensive than a lease.
• A few years: Lease. If you plan on trading in your car before it is paid off, as many people do, you are actually losing money. The ability to get a new car every couple years is one of the main benefits of a lease, so if you will be looking for a different car in a few years, leasing is the way to go.
How much can you afford?
• Low monthly payments and low maintenance: Lease. A major upside to a lease is the lower monthly cost. Leases typically have a lower down payment, monthly payment, and low maintenance fees. There are also no upfront sales taxes, and leasing a car can offer tax advantages for business owners.
• High monthly payments: Buy. If you can afford high monthly payments, you should be able to pay off a car relatively quickly. Just make sure you can also afford costly repairs after the warranty expires.
How far do you drive your car each year?
• Less than 15,000 miles: Lease. Most leases restrict the mileage you can put on a car each year to 15,000 miles, or sometimes less. But if you do not travel more than this, it will not be an issue.
• More than 15,000 miles: Buy. If you do go over the allotted mileage, you will be charged for each extra mile, which can really add up.
How well do you treat your car?
• Poorly: Buy. You will be responsible for any damage that is caused to a leased vehicle. So if you know that you do not have a good track record with cars, buying is your safest option. You should also buy if you want to do any customization.
• Well: Lease. If you keep your cars clean and take good care of them, there should not be any issues.
Thursday, November 4, 2010
When to Buy a New Car
Buying a car is a tricky process. There are so many dealerships to choose from, models to look at, and you’re never quite sure how much of that MSRP you should really be paying. We know the ability to negotiate and the bottom line price vary from salesperson to salesperson and dealer to dealer, but do they also vary from day to day? As it turns out, they do… sort of.
According to several experts, the best day of the year to buy a new car is Labor Day Weekend. This is when many dealers want to really start clearing out last year’s models to make room for the new ones coming in. During this time of year, there are still enough models left to choose the color and trim you want, but dealers want to get them off of their lot, which equals you getting the car you want at a great price.
However, Labor Day Weekend only comes once a year, and sometimes you just cannot wait until it comes along again to purchase your new car. So what happens when your car breaks down, suddenly becomes inoperable, or you just want a new car, but don’t want to wait 10 months to get it?
The best time to buy a car year round is at the end of the month. Most car dealerships run on a quota system, and salespeople gain an incremental bonus when they hit their sales mark for the month. If a salesperson is still a few sales away from his bonus, he will be much more likely to offer incentives and push his manager to knock down the price of a car at the end of the month in order to make the sale and get him closer to that quota. So even if you can’t wait until next September to get that new car, do not waste extra money by making a purchase in the beginning or middle of a month. Wait until the end, save some cash, and make your salesman happy by getting him one step closer to that bonus.
According to several experts, the best day of the year to buy a new car is Labor Day Weekend. This is when many dealers want to really start clearing out last year’s models to make room for the new ones coming in. During this time of year, there are still enough models left to choose the color and trim you want, but dealers want to get them off of their lot, which equals you getting the car you want at a great price.
However, Labor Day Weekend only comes once a year, and sometimes you just cannot wait until it comes along again to purchase your new car. So what happens when your car breaks down, suddenly becomes inoperable, or you just want a new car, but don’t want to wait 10 months to get it?
The best time to buy a car year round is at the end of the month. Most car dealerships run on a quota system, and salespeople gain an incremental bonus when they hit their sales mark for the month. If a salesperson is still a few sales away from his bonus, he will be much more likely to offer incentives and push his manager to knock down the price of a car at the end of the month in order to make the sale and get him closer to that quota. So even if you can’t wait until next September to get that new car, do not waste extra money by making a purchase in the beginning or middle of a month. Wait until the end, save some cash, and make your salesman happy by getting him one step closer to that bonus.
Friday, October 29, 2010
Electric Cars Are (Almost) Here
After hearing about them for years, the time has come for two of the largest auto manufacturers to begin rolling out electric cars. Nissan and General Motors are ready to introduce plug-ins by the end of 2010, and several other automakers, including Toyota and Ford, have announced plans to launch electric cars in 2011.
Now I know electric cars are eco-friendly and budget-friendly, as they eliminate the cost of fuel, but I must admit the idea scares me. I was the proud owner of an electric Barbie car as a child, and I still have vivid memories of waiting hours for my car to charge, only to have it run for 30 minutes and leave me stranded on the sidewalk. So when I heard that we would be seeing plug-ins before the end of the year, I decided to do some research to answer some FAQ and ease my fears.
1. How far can you travel before charges?
Depends on the car, but the range is 50 to over 200 miles. The Nissan Leaf will be able to travel up to 100 miles when fully charged.
2. How long will it take to charge?
Rapid charging can charge a battery in 30 minutes. However, the Nissan Leaf will take up to 8 hours to fully charge a dead battery.
3. Where do you charge?
Currently, electric owners are expected to do 80% of charging at home, especially overnight. There are public charging stations in some parking garages and shopping centers. Soon Charging systems will be installed in Best Buy parking lots, and BP and ARCO stations. The Obama Administration has set a goal to have 20,000 charging stations installed nationwide by 2012.
4. What kind of special maintenance do electric cars require?
Electric cars do not require oil changes or tune-ups, and they have 1/10 as many parts as gas cars, so maintenance is relatively easy. The battery will need to be checked often, and may need to be watered. The connections will need to be kept clean and tight, and tires checked.
5. How fast can electric cars travel?
Depends on the car, but most can reach 55-65 mph and some may reach 85-90 mph
Now I know electric cars are eco-friendly and budget-friendly, as they eliminate the cost of fuel, but I must admit the idea scares me. I was the proud owner of an electric Barbie car as a child, and I still have vivid memories of waiting hours for my car to charge, only to have it run for 30 minutes and leave me stranded on the sidewalk. So when I heard that we would be seeing plug-ins before the end of the year, I decided to do some research to answer some FAQ and ease my fears.
1. How far can you travel before charges?
Depends on the car, but the range is 50 to over 200 miles. The Nissan Leaf will be able to travel up to 100 miles when fully charged.
2. How long will it take to charge?
Rapid charging can charge a battery in 30 minutes. However, the Nissan Leaf will take up to 8 hours to fully charge a dead battery.
3. Where do you charge?
Currently, electric owners are expected to do 80% of charging at home, especially overnight. There are public charging stations in some parking garages and shopping centers. Soon Charging systems will be installed in Best Buy parking lots, and BP and ARCO stations. The Obama Administration has set a goal to have 20,000 charging stations installed nationwide by 2012.
4. What kind of special maintenance do electric cars require?
Electric cars do not require oil changes or tune-ups, and they have 1/10 as many parts as gas cars, so maintenance is relatively easy. The battery will need to be checked often, and may need to be watered. The connections will need to be kept clean and tight, and tires checked.
5. How fast can electric cars travel?
Depends on the car, but most can reach 55-65 mph and some may reach 85-90 mph
Friday, October 22, 2010
Winterizing Your Car
As the leaves start to change color and fall to the ground those of us in the north take that as a sign that winter is on its way; and with winter comes snow, ice and salty roads. It's time to winterize your car. Below are a few tips to help your car make it through another long, cold winter.
1.Take your car to the mechanic. Have them check out the battery, antifreeze level, thermostat, heater, brakes and defroster. If there is something wrong have them go ahead and fix it. You don't want to end up stranded on the side of the road because your battery dies.
2.Check the tread on your tires. If your tires don't have adequate tread they will have trouble getting through the ice, snow and sludge. If you need new tires consider snow tires which have a tread equipped for getting through the snow and ice.
3.Replace your windshield wiper fluid with one that is made to spray in freezing conditions. Also consider replacing your windshield wiper blades with ones made to cut through snow and ice.
4.Once you start driving on the salty, icy roads rinse the undercarriage of your car often. The salt can cause corrosion and rust to the undercarriage which can harm the integrity of the car. If you get a chance wash your car well and give it a fresh coat of wax.
1.Take your car to the mechanic. Have them check out the battery, antifreeze level, thermostat, heater, brakes and defroster. If there is something wrong have them go ahead and fix it. You don't want to end up stranded on the side of the road because your battery dies.
2.Check the tread on your tires. If your tires don't have adequate tread they will have trouble getting through the ice, snow and sludge. If you need new tires consider snow tires which have a tread equipped for getting through the snow and ice.
3.Replace your windshield wiper fluid with one that is made to spray in freezing conditions. Also consider replacing your windshield wiper blades with ones made to cut through snow and ice.
4.Once you start driving on the salty, icy roads rinse the undercarriage of your car often. The salt can cause corrosion and rust to the undercarriage which can harm the integrity of the car. If you get a chance wash your car well and give it a fresh coat of wax.
Friday, October 15, 2010
Thursday, October 7, 2010
CarLocate Celebrates its 1st Birthday
Just last week CarLocate.com celebrated their 1st year of helping consumers “shop smart” for their next new or used car, and to go along with this celebration they also added a few enhancements to the site to make the “shopping” even easier for the consumer.
Most of the added enhancements are features that will allow the “shopper” to have a more refined search based on their basic criteria. On the Car Research and vehicle detail pages consumers will see a list of similar vehicles to the one they are researching that are within their search criteria and area. The maximum search distance for a vehicle has also been expanded to nationwide to help the “shopper” more quickly and easily find the exact vehicle they are looking for.
These enhancements will help improve the shoppers vehicle search results and put more car choices at their “fingertips so that they can search more quickly and efficiently for their next new or used car.”
Happy Birthday CarLocate.com!
Most of the added enhancements are features that will allow the “shopper” to have a more refined search based on their basic criteria. On the Car Research and vehicle detail pages consumers will see a list of similar vehicles to the one they are researching that are within their search criteria and area. The maximum search distance for a vehicle has also been expanded to nationwide to help the “shopper” more quickly and easily find the exact vehicle they are looking for.
These enhancements will help improve the shoppers vehicle search results and put more car choices at their “fingertips so that they can search more quickly and efficiently for their next new or used car.”
Happy Birthday CarLocate.com!
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