This article
discusses
buying vs leasing a car - bad credit car finance
deals. First, here are two fast car leare tips:
1. Don't decide to lease a car just because the payments are lower than
on a traditional auto loan. The leasing payments may be lower because
you don't own the car at the end of the lease.
2. Leasing a car is very complicated. When shopping, consider the price
of the car (known as the capitalized cost), your trade-in allowance, any
down payment, monthly payments, various fees (excess mileage, excess
"wear and tear," end-of- lease), and the cost of buying the car at the
end of the lease. Keys to Vehicle Leasing: A Consumer Guide, published
by the Federal Reserve Board and Federal Trade Commission, is a valuable
source of information about auto leasing.
See
car finance
for more information.
No matter what car-rental agencies claim, leasing
costs about 20% more over three years than a direct purchase.
Misconception: Leasing provides tax breaks not available from ownership.
Truth: All business driving expenses are deductible, no matter who owns
the car.
Leasing does make sense when:
The owner of a company uses the car mostly for business. Caution:
Personal use of the car has to be paid for.
The business needs several cars, but lacks the cash to cover the down
payments. Leasing also helps keep the balance sheet healthier.
The trouble and time required to buy and maintain a car are headaches. A
lessee can just order a car, swap it for a loaned one when necessary,
and get a new car every two to three years automatically.
An accident has forced you into the assigned-risk pool and insurance is
going to cost a lot more. The leasing companies may provide coverage for
less.
Details:
(1) Full-maintenance contracts are usually not worth the cost.
(2) Check the contract carefully for surcharges on driving over a
certain number of miles a year. (3) Evaluate a lease for total costs,
not just the monthly payments.
When Purchase Involves A Trade-In: The buyer who
trades in one item for another is also a seller. He might have to pay
damages for any misrepresentation about the item traded in. One car
buyer traded in what he thought was a 1998 Mercedes. Even the title said
so. But it turned out to be a 1995, and the court ordered him to pay the
difference in value.
To
buying vs leasing a car -
bad credit car finance deals - Top
And now some car tips:
• Sports cars and two-door cars are much more likely to be stolen. Least
likely: Four doors in all sizes, from sub compacts to full size.
• A dealer's emblem doesn't have to be at~ fixed to your car. When
ordering, specify no emblem and make sure the instruction shows up
clearly on the order. When you speak with the dealer on subsequent calls
about one detail or another relating to delivery; remind him about the
emblem so he doesn't go through with that procedure, which is almost
automatic.
• Diesel fuel and gasoline shouldn't be mixed. Despite the advice of
some diesel-car manufacturers, recent evidence shows that this practice
is dangerous. Temptation trap:
Wintertime addition of gasoline to increase diesel fuel combustibility
for easier starts.
• Caring for radials: Rotate radial tires differently from bias tires to
insure that they wear evenly. Bias-plys are changed front left to rear
right and front right to rear left, in an X. Radials are changed front
left to rear left, and front right to rear right, in two parallel lines.
The bottom line: Don't mix radials and bias ply tires. If you must, use
radials as rear tires. Never mix radials and bias-plys on the same axle;
the combination is dangerous.
• Start the car in neutral, not in park. Reason: There is less drag on
the engine.
• Don't turn your wheels while waiting for traffic to clear before
making a turn. Recommended: Keep the wheels pointing forward until you
actually begin to move into the turn. Reason: If your car is hit from
behind, it will go straight ahead rather than into the path of oncoming
vehicles.
• Overheated car. When caught in traffic, if needle on indicator moves
up or red light comes on, car can probably make it to the next service
station if these steps are followed: (1) Turn off air conditioner. (2)
Turn on heater to draw heat away from engine. (3) Put transmission into
neutral (when stopped) and race engine slightly. Note: Check water level
as soon as possible. If it's adequate, thermostat may be malfunctioning.
• Tire-changing aids. All-purpose penetrating oil helps loosen lug nuts
crusted with rust. Keep a can in the trunk. Also helpful: Lifting and
positioning the spare is easier with leverage. Place X-shaped lug wrench
flat on the ground. Roll the tire onto it. Then, using the wrench as a
two-footed crowbar, raise its other legs until the tire and lugs match
up with each other.
• Shock absorbers. The sure sign they should be replaced is when they
begin to look damp and oily. Reason: Absorbers are filled with fluid.
After 40,000 to 45,000 miles, the seal holding the fluid usually gives
out.
• Keep a golf tee in your car tool kit. Two suggested uses: (1) When
removing contact points on the distributor, slip the tee into the hole
in the advance plate. This keeps the just removed screws, which could
slip out of your hand, from dropping through the hole-a mishap that
requires removing the entire distributor. (2) When working on the
distributor, plug the tee into the end of the vacuum line while setting
engine timing.
• Scam. A class of costly car-care products, called "sealer/blusterier,"
is said to help preserve your car's exterior finish. But this claim has
not been substantiated, at least to the satisfaction of automakers and
chemical producers.
• Rustproofing is advisable for any new car that you plan to keep for
three or more years in a corrosive climate (generally the Northeast,
Snowbelt, and coastal areas of the Southeast). Note: The rustproofer
should apply the spray at a pressure of 960 pounds (or higher).
Otherwise the material may not adhere properly.
While searching the internet for
buying vs leasing a car - bad credit car
finance deals
be sure to add to your search string the name of your state and city so
that you get
local buying vs leasing a car - bad credit car finance deals. For your convenient here is a list of US states and biggest
cities: in Alabama, in Alaska, in Arizona, in Arkansas, in California, in Colorado,
Connecticut, Delaware, District of Columbia, in Florida, Georgia, Hawaii,
Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,
Maryland, Massachusetts, in Michigan, Minnesota, Mississippi, Missouri,
Montana, Nebraska, Nevada, New Hampshire, in New Jersey, New Mexico, in New York,
North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode
Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont,
Virginia, Washington, West Virginia, Wisconsin, Wyoming. in New York, in Los
Angeles, in Chicago, in Houston, in Philadelphia, in Phoenix, in San Antonio, San Diego,
in Dallas, in San Jose, Detroit, Indianapolis, Jacksonville, in San Francisco,
in Columbus, Ohio, Austin, Memphis, Baltimore, Fort Worth, Charlotte, El Paso,
Milwaukee, Seattle, Boston, Denver, Louisville- Jefferson County,
Washington, Nashville-Davidson, in Las Vegas, Portland, Oklahoma City, Tucson,
Albuquerque, Long Beach, Atlanta, Fresno, Sacramento, New Orleans,
Cleveland, Kansas City, UK, Virginia Beach, Omaha, Oakland, Miami, Tulsa,
Honolulu, Minneapolis, Colorado Springs, Arlington.
Source: Consumer Information Center
Disclaimer: While every
effort is made to ensure that the content of this website is accurate,
the website is provided “as is” and Bizmove.com makes no representations
or warranties in relation to the accuracy or completeness of the
information found on it. While the content of this site is provided in
good faith, we do not warrant that the information will be kept up to
date, be true and not misleading, or that this site will always (or
ever) be available for use. Nothing on this website should be taken to
constitute professional advice or a formal recommendation and we exclude
all representations and warranties relating to the content and use of
this site.
