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Posts Tagged ‘New Cars’

The Hidden Costs Of Car Leases

0 April 15th, 2011

Be honest- are you one of those people who just loves new cars? I knew it. Thats OK, we are in the same boat. I love new cars just as much as you do. But I like not overpaying just as much if not more than you do. Thats why, when it comes to car leases, I make sure and really get to know my options and whether I should be leasing or buying my vehicles. As Ive learned (the hard way) a few times, there are all sorts of hidden costs involved in leasing a new car. And they arent what you think they are. Lets look at a few of them.

1) The monthly lease payment. Did you know that there are unscrupulous car dealers out there who will blindly rip you off if you let them. Thats right. And your monthly payment might have been arbitrarily made up by one of these dealers on the spot just by looking at you and deciding how much money they should charge you. Make sure and question everything on the lease form and ask in depth questions as to why you should be paying what you are. The fine print can be your friend, use it against the car dealer to negotiate a better deal somewhere else.

2) Keep an eye on your mileage. This is a biggie. A lot of people get wooed by the idea of a lease and its low payments. However, these same people are living the high life until the day comes when they have to finally return their vehicle. This is the day of reckoning because they get charge for overage miles. Its not a pretty site and it can seriously damage your bank account. If you lease your car, make sure your mileage doesnt exceed its limit.

3) The lack of equity. When you buy a car, you own it (or the bank owns the note on it). You dont build equity with a car lease. Your car is basically being rented. Compare the equity costs and gains before deciding on a least.

There are a ton of other hidden costs involved in car leases that make points #1-3 look small by comparison. Learn all about them.

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The Best Places To Compare And Check Prices Of Cars

0 April 1st, 2011

The Best Places To Compare And Check Prices Of Cars Online

Do you want to buy a car but don’t know how much you should spend or whether you should buy new or used vehicle? Do you know what kind of car you want but don’t know which cars meet your criteria? Do you have at least three or four cars in mind and would like to compare their specifications and prices? Do you know exactly what car you would like to buy but want to research it fully? Are you raring to buy a car right now?

Do you find yourselves in any of the situation above? Then you are probably on the lookout for the best place where you can check and compare prices of cars. The Internet is filled with literally thousands of websites offering cars both used and bran new. It can really be confusing which site to visit. Of course you could visit them all but that would take you a very long time. And it is simply not worth it.

So how do you know the right place to check and compare prices of cars? Well all you need to do is follow some simple guidelines that could significantly narrow down your search for a place to buy a car.

The first thing that you could do is look for a website with a comprehensive Internet directory of automobile related resources. The site should also have links that provide a wealth of information about the ins and outs of cars shopping. It must also have resources on car accessories, auto financing and insurance.

Look for a website with a well organized database of car information. You should be able to find relevant information quickly and easily. Also, look for ratings from credible organizations. Ratings often tell if a site has good service and products.

If you are completely clueless about how to buy a car then you should visit car buying guide websites. These websites are usually a good place to check and compare prices of cars. These buying guides include data – such as reviews and safety test results – on both new and old cars.

Most of these sites have an archive of articles on specific car model reviews. Some also hive an advanced search feature that would allow you to look for information on a specific car throughout the site. Some would even allow you to search a car by price.

If you are someone who has at least two to four kinds of cars in mind, then you should look for website with good tools for comparing vehicles. A number of web sites sport superior tools for comparing cars that will aid you in scrutinizing every aspect of a certain car in comparison with other cars. Just type “Car Comparison Tools” in the search engine.

As the name suggest, car comparison tools lets you compare cars. There are websites with car comparison tools that would allow you to virtually compare cars side by side. Look for a website which lists the specifications of the cars as well as a detailed summary of the comparison. The more cars you can compare side by side, the better. There are websites that would allow you to compare up to eight automobiles side by side.

You should also be able to adequate of information like crash ratings, dealer holdback, a short anecdote of pros and cons section and warranty data. The information must be well stated and easy to read and comprehend.

You should be able to see cars compared in different categories like overview, specifications, features and safety, etc. The site must also be able to tell you which car has an advantage in terms of different aspects.

The summary of comparisons of the cars must be laid out clearly. Most importantly, the prices must be shown when the cars are being compared. This would make it easier for you to choose the car that would fit your budget.

Whether you are totally clueless of cars, know a thing or two or is a complete expert when it comes to motor vehicles there is a website that can help you check and compare prices. A website that will make it convenient for you to browse thorough different model of cars so you could properly choose one before buying.

Happy car shopping!

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Shopping For Used Cars

0 February 25th, 2011

When shopping for used cars, it is important to understand the value for the automobile that you are considering purchasing. One way to determine an accurate value is through Kelly Blue Book (kbb.com) and their extensive pricing system. By entering select data about both new and used cars, consumers will receive instant value estimates. In order to get an accurate value, consumers must know the make and model of the automobile, current mileage, additional features and overall condition.

Selecting from a lot of used cars can be an excellent way to own the automobile that you have always wanted, but could not afford a brand new model. Understandably so, new cars are more expensive than used cars. But, that doesnt mean there is anything wrong with purchasing used cars. No matter whether new or used, any automobile can develop a problem at any given time. That means that buying a new car does not automatically guarantee the new owner will have a smooth trouble-free ride. In addition, automobile insurance is often less expensive than those for new cars and this is another reason for the ongoing popularity of used cars.

When shopping for used cars, consumers should always take a test drive and also request to take the automobile to a trusted mechanic for further inspection. Under no circumstances should a consumer accept the word of the individual, or company, selling used cars. The only way to make sure that the automobile is in the condition as stated is to take it to a mechanic, who can properly inspect used cars and determine any underlying problems. The majority of used cars are exactly as stated but, when auto safety and a large amount of money is involved, there is no room for error in judgment.

When purchasing used cars, it may be possible to purchase a warranty contract. Not everyone realizes this, but even used cars carry warranties if they are purchased from a licensed automobile dealer. An additional warranty will, however, not generally be included in the original purchase price and may be additional. However, depending on a future problem, the additional cost of a warranty contract may very well be worth the money. Typically, the cost of the extended warranty would be figured into the entire loan amount and would ultimately only affect the monthly payments by a minimal amount.

Used cars can be found at a variety of places, including a local dealership, the classifieds section of a local newspaper, the bulletin board at a local retail or grocery store, word of mouth or even online. In many instances, a licensed dealer can order used cars from another automobile dealer. For example, if a customer wants a specific model and color of a car and knows which out-of-state dealer has that car for sale, they may request that a local dealer obtain the car so that they have the convenience of purchasing locally. This is not at all uncommon and is actually a standard practice among many dealerships offering used cars.

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Buying a Car Can Turn You Upside Down

0 July 9th, 2010

It’s expensive buying a car and it only gets more so as time goes on. Over time, the price of new cars has increased faster than the rate of inflation. This isn’t entirely due to greed on the part of automakers; cars are also more complicated and useful than they used to be. Sure, they were cheaper in the 1960’s, but they didn’t include air conditioning, air bags and video systems. Convenience and safety comes at a price.

With the increase in price comes an increase in the length of time people are taking to pay off their cars. Few people pay cash; most people take out loans and pay over time. The average car loan, which used to be repaid over a period of three years, now averages about six years in duration. That’s a long time to pay for a car, especially if you have no plans to own it for that long.

Taking six years to pay for a car has its advantages, as the payments are lower than they would be over a shorter loan term. Such a long loan does have a significant disadvantage, though – you can find yourself in a negative equity, or “upside down”, situation. This can be a serious problem – if you should total the car in an accident, your insurance company will only pay you the value of the car, and not the amount you still owe.

A buyer is described as being upside down when he or she owes more on a car loan than the car is worth. It’s easy to find yourself in an upside situation, and it can occur under any of the following circumstances:

Insufficient down payment – Cars depreciate as much as 25% the minute you drive them off of the lot. If you haven’t provided enough of a down payment to cover that depreciation, you may find yourself upside down immediately.

Trading in too often – Buyers like to trade cars in and roll their outstanding balance into a new loan. These unpaid debts can contribute to negative equity.

Too long a loan – Five and six year loans often lead to negative equity. You can often avoid it by keeping the length of loans to three years or less.

In order to avoid a potential problem in the event of an accident, you should contact your insurance provider to make sure that you have “gap insurance.” Gap insurance will make sure that you are protected should you have an accident while in an upside down situation. Without gap insurance, you may find yourself still making car payments even though you no longer have a car. That is the last thing any car owner wants.

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