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      January 19, 2019

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Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Auto Loans Versus Auto Leases

Auto industry statistics indicate that 80 percent of auto buyers either pay cash for their purchase, or finance it with a loan issued either through the dealer or a private financial institution. However, there is a small percentage of people who do not prefer to buy a vehicle, but rather prefer the option of leasing.

If you are in the market for a new automobile, you may be wondering whether owning or leasing is the best option for you. The choice depends on a number of factors.

Some of the reasons why people prefer buying over leasing include:

  • Leasing hidden costs. First and foremost, leases eventually must be returned, and lessees can find themselves paying out of the nose for hidden costs they weren’t expecting. One such cost is mileage. Most leases come with a pre-determined mileage limit. Lessees who exceed the mileage limit for the term of their lease will end up reimbursing the auto dealer the current mileage rate per mile for every mile beyond the lease’s limit. Most three-year leases provide a 36,000 mile limit. For the average driver, 12,000 miles per year may not be enough, particularly if you travel for your job.
  • Maintenance. Another benefit to buying versus leasing is that even while leasing, you are responsible for the maintenance of the vehicle. While most leases come with warranties that will cover the cost of most major repairs, those leases do not extend to routine car care such as replacement tires/tire rotations, oil changes or other fluid replacement. Essentially, the lessee will be paying to maintain a car that he will be returning for someone else to enjoy later.

Some of the reasons why people prefer leases over ownership include:

  • Lower monthly payments. Because the vehicle is technically being “borrowed” for an agreed-upon period of time, rather than being purchased outright, monthly payments tend to be lower on leases. The payments also are lower because the lessee is only paying for the depreciation of the vehicle’s worth, rather than the value of the entire vehicle. However, at the end of the lease term, the lessee doesn’t own anything.
  • Driving the latest model. Some people always want to be seen in the latest model car. They’re willing to put up with a constant monthly lease payment so that they can trade their car in every 2 or 3 years for a newer version. While people who choose to own a car look forward to not having a car payment, these individuals are comfortable with budgeting for lease payments forever.

No matter which option you choose, make sure you fully understand the benefits and drawbacks to each of them before signing on the dotted line.

Why you no longer need a traditional car

Karl Brauer, executive publisher of Kelley Blue Book and Autotrader, joined Yahoo Finance at the Detroit auto show to discuss the latest automotive trends. Here are four: Passenger cars are passe.

Published:  Thu, 17 Jan 2019 10:13:00 GMT



Alfa Romeo and FIAT of Glendale Offers Online Finance Tools for Car Shopping

GLENDALE, Calif., Jan. 18, 2019 /PRNewswire-PRWeb/ -- Anyone who is in the middle of or has recently purchased a new car can relate to how difficult the process can be. There are so many steps and fac...

Published:  Thu, 17 Jan 2019 17:00:00 GMT



The worst things you can say when shopping for a car

Negotiating on the monthly payment "takes the focus away from the price of the car." A smart finance manager can simply extend the length of the loan until the monthly payment amount is what you want ...

Published:  Thu, 17 Jan 2019 02:03:00 GMT



China Automotive Finance Market to 2023 - Improved Credit System Pushes the Development of Auto Finance Market

The "China Automotive Finance Industry Report, 2018-2023" report has been added to ResearchAndMarkets.com's offering. The penetration of used car finance in China will be 13% in 2018, rising to 25% in ...

Published:  Wed, 16 Jan 2019 08:13:00 GMT



Indonesia eases rules for vehicle loans by multi-finance firms

... removed downpayment requirements for vehicle loans extended by some multi-finance companies in a bid to boost economic growth, according to a statement on Thursday. * The auto industry has a big s...

Published:  Thu, 17 Jan 2019 01:46:00 GMT



Running Out Of Gas: The Direction Of The Auto Industry

People have taken advantage of cheap credit and pushed the total number of outstanding auto loans to above $1 trillion, which is a 64% increase since 2010. The United States and the rest of the ...

Published:  Wed, 16 Jan 2019 10:36:00 GMT



Trump 'inclined' to impose new U.S. auto tariffs, says senator

WASHINGTON - U.S. President Donald Trump is likely to move ahead with tariffs on imported vehicles, a move that could prompt the European Union to agree a new trade deal, said Senate Finance Committee ...

Published:  Thu, 17 Jan 2019 07:43:00 GMT



US auto dealer boss: Climbing car prices "unsustainable"

CHECK OUT: Used car sales skyrocket as high prices drive down new car sales Americans continue to stretch out their auto loans, too, to make a payment more affordable. On average, American car buyers ...

Published:  Wed, 16 Jan 2019 08:15:00 GMT



China Automotive Finance Industry Report, 2018-2023 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "China Automotive Finance Industry Report, 2018-2023" report has been added to ResearchAndMarkets.com's offering. The penetration of used car finance in China will be 13% ...

Published:  Wed, 16 Jan 2019 05:58:00 GMT



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