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      May 20, 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.

Counties risk losing millions in unpaid car loans, mortgages to MCAs

Auditor General Edward Ouko when he appeared before the Senate County Public and Investment Committee at County Hall, Nairobi on Wednesday 24/04/19. [Boniface Okendo,Standard] A host of county ...

Published:  Sun, 19 May 2019 14:00:00 GMT



Jury convicts Chesapeake man of auto loan fraud scheme

NORFOLK, Va. - A federal jury convicted a Chesapeake man on May 16 for charges of credit union fraudand aggravated identity theft. Court records and evidence presented at trial stated that ...

Published:  Sun, 19 May 2019 16:49:00 GMT



"They Were Conned': How Reckless Loans Devastated a Generation of Taxi Drivers

A Pakistani immigrant who thought he was just buying a car ended up with a $780,000 medallion loan that left him unable to pay rent. A Bangladeshi immigrant said he was told to lie about his income on ...

Published:  Sun, 19 May 2019 19:58:00 GMT



US delaying car tariffs a 'wise decision,' EU finance chiefs say

Amazon is leading a $575 million funding round for Deliveroo, taking the total the food delivery firm has raised to date up to $1.53 billion. Huawei says that it has been preparing for the "insane" ...

Published:  Fri, 17 May 2019 05:01:00 GMT



U.S. News Announces 2019's Best Memorial Day Car Deals

truck or SUV - especially if you negotiate hard on the price of the new car and then apply these deals." 2019 Kia Sorento 0% financing for 66 months plus $2,000 bonus cash 2019 Chrysler Pacifica 0% ...

Published:  Sun, 19 May 2019 21:04:00 GMT



First Community Credit Union president talks growth, car loans and why Walmart matters

The largest credit union in St. Louis often finds itself having to explain to people what it is. First Community Credit Union had $2.2 billion in deposits and more than 300,000 members at the end of ...

Published:  Fri, 17 May 2019 03:00:00 GMT



Coalition launches initiative to cap auto title loan costs

PHOENIX (AP) - A newly formed coalition that includes faith, consumer and civil rights groups has filed an initiative that would cap the interest charged on auto title loans. The group known as ...

Published:  Thu, 16 May 2019 15:37:00 GMT



Chesapeake man convicted of auto loan fraud

NORFOLK, Va. - A federal jury on Thursday convicted a Chesapeake man on charges of credit union fraud and aggravated identity theft. Prosecutors said 25-year-old Adante Leshaun Dupree took part in a ...

Published:  Thu, 16 May 2019 17:44:00 GMT



Toyota Auto Receivables 2018-D Owner Trust -- Moody's upgrades auto loan ABS issued by Toyota Motor Credit in 2017 and 2018

READ NOW: Google is scanning your Gmail inbox to keep a detailed list of your purchases, and there's no easy way to erase it (GOOGL, GOOG) » ...

Published:  Fri, 17 May 2019 15:08:00 GMT



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