June 3, 2007

Buying A New Car



Cars are now unarguably one of the basic needs of survival. Ask a pedestrian and the people who don't have cars! Owning a car is the very next thing you would go for after you start a job. Cars these days are fast changing. Every other day you get to watch a new model of a car on the street and you follow it with longing eyes till it speeds out of your sight. But since the market people know how important cars are they try making the purchase of vehicles easier day by day. Second hand cars and used cars are affordable these days.
Buying a car doesn't only involve a huge financial breakout but it takes a lot of consideration before you finally make the right choice. The guidelines for buying a car whether a new model or a used on; is quite simple. Primarily you need to consider your pocket and your budget, and see what kind of a car you can afford. To help you decide what car would be best for you, you can consult car magazines, car experts, Internet and so many other sources. You have to consider the space, the handling, comfort that it is capable of providing, the speed and any extra features that you can grab. Via the Internet, you can not only look for the right car, you can also search for the comments of people who own that kind of car, find its drawbacks and plus points.
You should always try to find a renowned dealer and a thorough checking concerning the car dealer and the car itself is a must before you decide to buy a car. Before you actually make the purchase a test drive should be done. Never make the mistake of purchasing the car if you are not allowed a test drive. Most dealers do let the customers satisfy themselves.
While you take a test drive you can easily check all the minor details of the car. Things like fuel tank, oil tank, engine and the braking of the car is important. Then you can look for other extra features like the radio, player, air conditioning of the car, the heating system and so on. The most important thing to consider is how you feel sitting in that car. Besides this you should always make an effort to keep your options open. You should visit and contact several dealers so that you can check different cars and do some comparison. That's the way you will definitely get the best without regret.

Car Buying VS Car Leasing

When it is time to shop for a new car there are many things to take into consideration. One of the biggest decisions is whether you should choose car leasing or car buying. There are many fundamental differences between the two.

To help make your decision easier the following is a list of those differences:
- At the end of the car loan term you will own a car if you opted to buy. At the end of the car lease term you return the car to the dealer and are left with nothing.
- A car loan term is usually four to six years. A car lease term is typically two to four years.
- Monthly car loan payments are generally higher than car leasing payments. This is because you are only really only paying for the car’s depreciation during the car lease term plus interest, taxes and service fees.
- Most car leases limit the amount of mileage you can put on the vehicle. If you plan on traveling a great deal you will have to consider negotiating a higher mileage limit. This will mean slightly higher monthly payments. If you exceed the limit you will be required to pay a charge of between 10 to 15 cents per mile. If you choose to buy the vehicle this is not an issue.
- When leasing a car there are limits to the amount of wear you can cause to the vehicle. Excessive wear will result in extra charges. If you buy you can do what ever you want to your car.
- If you terminate a car lease before the term is over there usually is a charge. In the case of car buying if you buy out the remainder before the car loan term is up you are usually charged a fee as well.

- The up front costs of car leasing include first month’s auto lease payments, a refundable deposit, a capitalized cost reduction( similar to a down payment), taxes and service fees. The up front costs of car buying include a down payment, taxes, registration and other service fees.
- At the end of the car lease term you have to pay any charges for excess wear and mileage then you can either walk away or buy out the car. When you reach the end of the car loan term you have no further payments and you walk away with your car.
Consider all these differences before coming to a decision on whether to buy or lease your next vehicle. Your choice will effect quite a lot over the loan or lease term including your monthly auto loan payments as well as what you can do to your vehicle to a certain extent. If you know what your long term goals are it will allow you to select the right option for your next car.
Sean Patrick develops methods to help consumers succeed in their quest for a new car. Find out more about how to shop for your new vehicle at