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