Las Vegas Motorcars Blog
July 4, 2014
Buying a Car Over Leasing: Why is it Significant?
If you’re planning to have a new automobile, there are several options you can take. Not everyone are able to buy a brand new car, but it’s a good thing that individuals can purchase or lease a used car. In this post we will go over that details and show you some of the advantages to buying a used car over leasing one.
To avoid the mileage limitations that you have when leasing a used vehicle, you should contemplate purchasing it instead. Most lease agreements come with a particular yearly mileage limit. The mileage on these agreements commonly starts at 10, 000 miles and they may reach up to 15, 000 miles each year. The price of leasing will also increase if you opt for a higher mileage. Furthermore, you are required to pay a fee per mile when you go over the mileage that was agreed in the agreement. When purchasing a car however, there is no mileage limitation or any over-the-limit fees to fret about, and you don’t have to pay any monthly payments.
Another advantage is that the payments will directly go to your equity, which you can utilize in the future for loans, granted the contract is over. On a lease agreement, your payments won’t be going towards equity because at the end of the lease you will need to return the vehicle to the dealership or the lessor. Like when you purchase a house you won’t keep a home even if you have been renting it for 20 years.
Another drawback regarding renting a car is the presence of contract cancellation charges. Besides the cancellation fee, the dealership will also charge you with all sorts of penalty fees if you choose to cancel the contract before its term has ended. If you purchased the car, then you could resell it if you want to do so. The money that you have from the resell could be used to pay the rest of the loan or you can utilize to pay for your other personal expenses.
It is absolutely clear that buying a car is a more sensible thing to do than renting if you consider the points mentioned above. Before making a decision however, you should gather the information and consider your current situations as there are times when it is much better to rent.
June 5, 2014
Used Cars: Their Edge over Brand-New Ones
One way to save a large amount of money and obtain financial edge is buying second-hand vehicles. A pre-owned vehicle would averagely cost you three times lesser than a new one. If you buy a pre-owned car at a cheaper price, you’ll normally be expected to put a smaller down payment if you’ll be financing and the overall financing expenses will be lower, that is, if you obtain a considerable interest rate.Service Contract
Car makers offer warranty services for new cars between 3 to 10 years. When you buy a pre-owned car, you have the chance to transfer the warranty that is left over to your name, given that it has not already ‘expired’ by either mileage or years covered. A used vehicle that is ‘certified pre-owned’ will allow you to have the warranty extended so long as the dealership permits.Financial Coverage
People who buy second-hand cars will usually pay a lower insurance premium as compared to brand new cars. The insurance policy costs less because the price of a second-hand car is also cheaper than a brand new one. A brand new car will lost a great amount of its value in the first two years of ownership. Given that the insurance company is not insuring the car with a ‘new car’ value, you will be saving money on insurance when you buy a used car.All About Certified Pre-Owned Cars
‘Certified Pre-Owned’ cars are second-hand vehicles that have been certified by many car companies. When you acquire a Certified Pre-Owned vehicle, you have the guarantee from the dealer that the car hasn’t been in any major accident or that it had any kind of serious damage; as almost all dealers will not approve those vehicles. Cars of this kind are a little more pricey as opposed to non CPO car; but the amount that you will be paying is worth it because of their good quality. Furthermore, there are special financing rates that you can avail on a certified pre-owned vehicle.
Should I Buy a Car Warranty?
Whenever you go buy a used car, dealers will often offer you an extended used car warranty to protect you and give you a peace of mind. Dealerships have many different types of warranties that vary in cost but also vary in what systems and parts are covered. When a warranty is bought at the time you buy the car, the cost will be split up in your monthly payments so if it means paying $15-$30 more per month more over paying a few hundred to thousands of dollars for a car repair in the future.
Even if a car looks amazing and it runs smooth, there is always the possibility that something may go wrong and you’ll end up having to repair the car. A lot of warranties cover engine and transmission along with electrical systems. Make sure to read your warranty before purchasing so you know what you are having covered and for how long. Many warranties are good for a certain amount of years or a certain amount of miles, whichever comes first.
Here are some of the options that you have available here at Las Vegas Motorcars. Our prices and coverage are great for all types of cars.http://www.lvmotorcars.com/servicecontract/
When it comes time to getting your next car, the big question comes up, NEW or USED? If you are truly looking into saving some big money you need to think of getting a used car. Most new cars lose about 40% of their value in the first two years. Going with a used car that is about two years old will put you in the best place since the first buyer has already taken the depreciation hit. Here is a quick video with some more information about the benefits of going with used over new:
Stop by our dealership to get some of the best deals in Las Vegas. Our used cars are great cars that are low on price and high in quality. We also do financing and have warranties available for all of our cars to give you a little peace of mind.
Have you ever gone to a car dealership only to get rejected because of your credit situation? Believe us, you are not the only one that this has happened to. It is a common situation for people in the United States. Life sometimes throws us some curve balls and there is nothing we can do about it, but it will affect our credit ratings if we aren’t able to pay some bills, mortgage, or other loans.
We have teamed up with lenders and finance companies that can help you get your back in the right direction and also allow you to rebuild and restructure your credit rating. Stop by our dealership and look at the cars that we have in inventory. Once you find the one that you are looking for, we will do the rest and find you the best possible lender that will work with you and get you your auto loan.
You can visit the link below to fill out our credit application if you want to make sure that you can qualify for a car before you come in (trust us, you will qualify!).
Thank you for stopping by our blog! Make sure you bookmark this page to stay up to date with what is going on at Las Vegas Motorcars, auto industry news, tips for buying the best possible used cars and much more. Also make sure to follow us on our social profiles which you can find on the top right corner of this page.
Thank you once again for visiting our new blog, there will be more posts coming soon.