A Few Car Shopping Tips…

If you’re shopping for a car, your best bet is to buy a certified pre-owned car from a reputable dealer….a new car loses 10% of it’s value the minute you drive it off the lot…..please, never  do a cash out refinance to buy a new car!  I can’t think of a reason why this would be a good idea….can you?  If you must have new, just do your homework and shop around for a good lease deal…..

 

Don’t just look at the monthly payment….look at the long term numbers…what is the total cost at the end of the lease?  What is the interst rate on the loan (shop for your own, don’t just go by what the dealer is offering….it may not always be the best).  What is the residual value?  Is maintenance/service included?  If the lease term is longer and those monthly numbers look more attractive, don’t be drawn in too quickly….the longer you have the vehicle, the more repairs you may encounter that are not covered under warranty….like tires…the cost of replacing them prior to lease end may void the monthly savings you enjoyed by taking out a longer lease term….how many miles do you drive?  don’t underestimate just to save a few dolloars a month ….it’s not worth it in the end….happy shopping!

Suzanne Coyle, Licensed Real Estate Salesperson