Automotive Series

Over the last few months, Tri-Town Apple has published a series of articles (7) on the acquisition and care of an automobile. for the most part these were based on material from the Federal Trade Commission’s (FTC)  web site for consumer information.

Series Summary

This article is a summary of the seven series articles with links to each of them. Keep it in mind or bookmark it. The next time you’re looking for a car, considering a service contract, or facing major repairs, give the appropriate article a read. It can’t hurt and you might save yourself yourself some serious money and/or hassle.

Buying a New Car:

A new car is second only to a home as the most expensive purchase many consumers make. According to the National Automobile Dealers Association, the average price of a new car sold in the United States is about $30,000. That’s why it’s important to know how to make a smart deal. – Federal Trade Commission  (FTC) 

Buying a Used Car:

Buying and owning an automobile for most all of us, is a life-long experience. The purchase cost, especially for a new car, may be second only to a home purchase or college tuition in size. Buying a used car is fraught with it’s own set of hidden pitfalls. And whether new or used, auto ownership will involve maintenance & repair questions, warranty issues, and eventually  questions about trade-in value.

Used Car Warranties:

When you buy a used car from a dealer, get the original or a copy of the final Buyers Guide that was posted in the vehicle. The Guide must reflect any negotiated changes in warranty coverage. It also becomes part of your sales contract and overrides any contrary provisions.

Automotive Services Contracts:

A service contract is a promise to perform (or pay for) certain repairs or services. Although a service contract is sometimes called an extended warranty, it is not a warranty as defined by federal law. A service contract may be arranged any time and always costs extra; a warranty comes with a new car and is included in the original price.

Renting a Car:

Even though most of us do own a car, we have the need to rent a car now and then, e.g. for vacation or business travels. Comparing prices online can save you a bundle. But make sure you compare the total cost — not just the advertised rate — because fees and options can increase the base price dramatically.

Auto Repair Basics:

Buying can be fun, repairing never is!

Car: Purchase or Lease?

The rate of leasing in the United States was higher last year than at any time in more than a decade, according to data provided by Edmunds.com and Kelley Blue Book.

 

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Car: Purchase or Lease?

In a recent New York Times Article (Auto Leasing Gains Popularity Among American Consumers) the author, Aaron Kessler, reported that not only are cars sales up generally, but that the number automobiles acquired through leases as opposed to purchase has risen sharply:

1-27-2015 1-28-06 PMThe rate of leasing in the United States was higher last year than at any time in more than a decade, according to data provided by Edmunds.com and Kelley Blue Book.
More than one out of every four new vehicles were rented, rather than bought, by American consumers — and the percentage choosing a lease has risen sharply over just the last two years. It is now roughly 27 percent, up from 22 percent in 2012, according to Edmunds.

So clearly a larger portion of the buying public believe that leasing an automobile is the better option for them.

What About You?

Would car leasing , rather than purchase, be a good strategy for you? Like so many questions in life, the answer is, “It all depends.” But there are several considerations that can help you decide whether it may be an option worth pursuing. Continue reading for our thoughts on these factors.

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