Step 4: Have you considered all vehicles in that class?
Today's new car (and truck) market is filled with great products. Most shoppers have difficulty keeping up with all of the vehicles manufacturers introduce and the changes they are making to their older vehicles, so it's important to do your research. Use Internet sites like Edmunds.com and Edmunds.com New Cars and Trucks Buyer's Guide to research all your choices before you hit the showrooms.
On Edmunds.com you can pick a specific car and bring up a list of similar cars in the same class. If you already have a car you are considering, this will be your starting point. Find the specific car you want on the web site by searching by Make, Type, Price Range or Market Segment. Once you have chosen your specific car, you will be on a Vehicle Detail page. This page has links to all the Car Pricing, Features, Reviews and Shopping options. Down the left hand side of the Vehicle Detail page there is a section called "Find a Related Vehicle" all of the links in this section help you to locate similar and competitive vehicles.
If, on the other hand, you have no idea where to begin you should might want to consult the Best Cars section of the site, or you can begin by searching by Make, Type, Price Range or Market Segment.
By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/
Tuesday, April 21, 2009
Saturday, April 11, 2009
10 Steps to Finding the Right Car for You
Step 3: Should you lease or buy your next car?
A lease requires little or no money up front and offers lower monthly payments. But when the lease ends you are left without a car and a need to replace it.
Buying a car is more expensive initially and the monthly payments are higher. But at the end of the loan, you will own a car you can still drive or sell.
Other key factors that differentiate leasing and buying include:
Advantages of Leasing
• You can drive a better car for less money
• You can drive a new car every few years
• No trade-in hassles at the end of the lease
Advantages of Buying
• When interest rates are low, it makes more financial sense to own a car rather than lease it
• No mileage penalty
• Increased flexibility — you can sell the car whenever you want
If you are still unsure whether to lease or buy, try letting the numbers help you make the right decision. Go to Edmunds Finance Calculators to calculate your monthly auto loan payment vs. your monthly lease payment.
By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/
A lease requires little or no money up front and offers lower monthly payments. But when the lease ends you are left without a car and a need to replace it.
Buying a car is more expensive initially and the monthly payments are higher. But at the end of the loan, you will own a car you can still drive or sell.
Other key factors that differentiate leasing and buying include:
Advantages of Leasing
• You can drive a better car for less money
• You can drive a new car every few years
• No trade-in hassles at the end of the lease
Advantages of Buying
• When interest rates are low, it makes more financial sense to own a car rather than lease it
• No mileage penalty
• Increased flexibility — you can sell the car whenever you want
If you are still unsure whether to lease or buy, try letting the numbers help you make the right decision. Go to Edmunds Finance Calculators to calculate your monthly auto loan payment vs. your monthly lease payment.
By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/
Monday, April 6, 2009
10 Steps to Finding the Right Car for You
Step 2: How much can you afford?
Regardless of whether you decide to buy or lease your next car, establishing a realistic monthly payment that will fit into your budget is a crucial first step. How much should this be?
A rule of thumb is your total monthly car payments — whether you own one car or more than one — shouldn't exceed 20 percent of your monthly take-home pay.
Check the Edmunds.com "Financial Calculators" to help you estimate what your monthly payment will be based on purchase price, down payment, interest rate and length of loan. Take the time to run the numbers now, before you go car shopping, print out the result and put this information into your car-buying folder. It will not only show you what you can afford, it will also help you control the numbers when you negotiate with a car salesman.
By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/
Regardless of whether you decide to buy or lease your next car, establishing a realistic monthly payment that will fit into your budget is a crucial first step. How much should this be?
A rule of thumb is your total monthly car payments — whether you own one car or more than one — shouldn't exceed 20 percent of your monthly take-home pay.
Check the Edmunds.com "Financial Calculators" to help you estimate what your monthly payment will be based on purchase price, down payment, interest rate and length of loan. Take the time to run the numbers now, before you go car shopping, print out the result and put this information into your car-buying folder. It will not only show you what you can afford, it will also help you control the numbers when you negotiate with a car salesman.
By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/
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