Leasing versus buying a car

Leasing versus buying a car - Leasing versus buying a car...

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Unformatted text preview: March 27, 2012 Leasing versus buying a car • You build no equity • You are still responsible for maintenance and damages • You are charged extra for o Too many miles (over 12,000 miles) o Ending the lease early will charge a penalty Buying a car … would you take 0% financing versus 3,000 cash-back? The interest is not going to be more than the 3,000 cash back. If you have great credit the interest rate will already be lowered-Rules of negotiations -make sure your FICO score is excellent-shop around for loan-don’t fall for the MSRP (market price) why? Because it is a lie. Marked up for a reason-Get closer to the invoice price-Hold-backs incentives (go to Edmunds.com or cardirect.com)-never talk about financing options until you have agreed on a price-keep asking for the “out-the-door” price –includes taxes, maintenance Roles of Insurance Companies-Insurance agent: recommends insurance policies for customers -auto insurance vs. homeowner’s –any accident involving a car, even if one is doing something -auto insurance vs....
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