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      September 17, 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.

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Published:  Mon, 16 Sep 2019 05:00:00 GMT



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This bad boy? It'll cost over $10,000 a year to own it on average. It's no surprise buying a new car has become increasingly more expensive for many buyers, but a new study puts hard numbers on the ...

Published:  Mon, 16 Sep 2019 13:02:00 GMT



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If they don't check the numbers first, most car buyers don't know what a good deal is. That's because there are so many moving parts, such as financing, trade-in value and various tacked-on bogus and ...

Published:  Mon, 16 Sep 2019 16:02:00 GMT



The Fed Expected to Lower Interest Rates Again, but Consumers Won't Reap the Full Benefits on Their Auto Loans

NEW YORK, Sept. 16, 2019 /PRNewswire/ -- Interest rates are down by 1% or more on benchmark 10-year U.S. Treasury securities over the past year, with interest rates declining on all types of loans.

Published:  Mon, 16 Sep 2019 10:28:00 GMT



Car Finance Market Current and Future Demand 2024 with Top Key Players Ford Motor Credit, Toyota Financial Services, Ally Financial

Sep 16, 2019 (Innovative Reports via COMTEX) -- Improving macroeconomics coupled with increasing number of first-time car buyers are some key trends that have come to the fore in emerging economies.

Published:  Mon, 16 Sep 2019 05:08:00 GMT



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"We're running out of space and need the extra parking for the growth we continue to see" Terry Hart, airport authority president Chattanooga's airport plans to take on its biggest loan to finance ...

Published:  Mon, 16 Sep 2019 16:28:00 GMT



India's Finance Minister Says Car Sales Are Slumping Because of Millennials

India's automobile industry, one of the country's biggest employers, has crashed into one of the worst slumps. According to data released by the Society of Indian Automobile Manufacturers (SIAM) on ...

Published:  Wed, 11 Sep 2019 03:41:00 GMT



Bought A Car Recently? 198 Million Car Buyer Records Exposed In Massive Data Leak

According to the DealerLeads website, the company has "collected and purchased popular automobile relevant domains based on search terms used by car buyers," for 20 years. "We have turned these ...

Published:  Mon, 16 Sep 2019 09:23:00 GMT



Finance Minister Nirmala Sitharaman blames Uber, Ola, metro trains and BS VI for auto slowdown

Minister of Finance and Corporate Affairs Nirmala Sitharaman on Tuesday addressed a press conference in Chennai to highlight the achievements of the Modi 2.0 government and talked about the abrogation ...

Published:  Tue, 10 Sep 2019 06:05:00 GMT



Texas Title Loans is Revolutionizing the Very Concept of an Online Title Loan

Texas Title Loans offers good rates and even a bad credit can be okay, which makes it super easy for the applicants to get a car title loan. The new borrower resources section by Texas Title Loans can ...

Published:  Mon, 16 Sep 2019 17:28:00 GMT



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