| For many people, a car is the second largest purchase | | | | leasing is definitely for you. However, if you put a lot of |
| they make, the most expensive is usually the home. | | | | miles on a car every year, it may end up being |
| We offer the following tips for shopping for a car:Get | | | | smarter for you to buy. Consider your personal |
| Your Records Straight - One of the first steps in | | | | expectations and financial situation when reviewing the |
| financing a car is to get a grip on your credit rating. | | | | pros and cons of each.Buying Offers:A chance to |
| Unless you intend to pay cash, you will have no | | | | trade in that old clunkerOwnership and equity in the |
| secrets from the car dealership, finance company or | | | | carControl of your wheels. If you want to add eight |
| auto insurer. A poor credit history can result in a higher | | | | speakers or take out the backseat, go ahead, your |
| interest rate or even loan disqualification. Also, bad | | | | buying it.No penalties if you don't hold up your end of |
| marks on your credit could flag you as an insurance | | | | the maintenance agreement, although you will want to |
| risk, translating into higher premiums.There are | | | | service your car to enhance both it's service to you |
| numerous resources available to help understand and | | | | and your ability to sell it in the future.No Mileage |
| manage car financing. The more knowledge you have | | | | LimitsPayments base on the value of the car, not it's |
| about your credit, you can determine if your loan will | | | | depreciation. That might mean higher monthly |
| be approved, and at what interest rate, and also catch | | | | payments that a lease.Leasing Offers:A cost-effective |
| any glitches that could be making your credit history | | | | alternative to buying a car every few yearsAn |
| look worse than it is. Contact the major credit reporting | | | | affordable way to drive a car that you may not be |
| agencies to obtain your credit report and take steps to | | | | able to afford to buy. Monthly lease payments are |
| clean up what is necessary.Cut Your Premiums Down | | | | generally less than financing payments.A maintenance |
| to Size - Before you buy a car, find out what it will | | | | contract that requires that you keep your car in good |
| cost to insure it. Get car insurance quotes and | | | | shape and not make any alterations to it.A factory |
| calculate your insurance needs on the internet. Each | | | | warranty that almost always covers the car for your |
| state has different requirements when it comes to | | | | entire lease, so major maintenance isn't your financial |
| auto insurance, and we'll leave it up to you to learn | | | | responsibility.Annual mileage limits (about 12,000 to |
| what your state requires. But every state has some | | | | 15,000) with significant penalties if you put more miles |
| sort of financial responsibility law that says you need | | | | on it than the lease stipulates. Usually a flat charge and |
| to take care of any accidents you might have.To Buy | | | | a charge per each mile over the limits.Payments that |
| Or Lease, That Is The Question - When you lease, | | | | may be income tax deductible if you're leasing the car |
| your paying to use a car. Your payments cover the | | | | for business - Ask a Tax Advisor for Details.Penalties |
| cost of the vehicle's depreciation while you drive it, | | | | if you terminate the lease earlier than agreed - |
| rather than it's purchase price. If driving a new car is | | | | changes may vary. - automotive resource for buying |
| more important to your lifestyle than owning one, | | | | cars cheap and at auction prices. |