Archive. So just feel free to read my Archive and feel free to comment.

Please feel free to explore Author Archive. So just feel free to read and feel free to comment.

Buy a car at the end of your lease.

December 25th, 2009 Labelle Chevrolet 513 comments
Title:

Buy a car at the end of your lease.




Buy a car at the end of your lease.

You’ve come to the end of your lease and you like you car enough you want
to keep it in the driveway. Just like buying a used car, there is some
research to be done to nail a good deal.

First, you need to know the cost of buying out your lease. Read the fine
print of your contract and look for the “purchase option price”. This
price is set by the leasing company and usually comprises the residual
value of the car at the end of the lease plus a purchase-option fee
ranging from $300 to $500. When you signed on the dotted line, your
monthly payments were calculated as the difference between the vehicle’s
sticker price and its estimated value at the end of the lease, plus a
monthly financing fee. This estimated price of the car value at the end
of the lease is what is termed in leasing jargon “residual value”. It is
the expected depreciation – or loss in value – of the vehicle over the
scheduled-lease period. For example, a car with a sticker price of
$40,000 and a 50% residual percentage will have an estimated $20,000
value at lease end.

Now that you know the cost of buying out your lease, you need to determine
the actual value, also termed “market value”, of your vehicle. So, how
much does your car retail for in the market? To pin down a good, solid
estimate you need to do some pricing research. Check the price of the
vehicle, with similar mileage and condition, with different dealers. Use
online pricing websites, such as Cars.com, Edmunds.com and Kelly Blue Book
for detailed pricing information. Gleaning pricing information from various
sources should give you a fair estimate of your vehicle’s retail value.

All you have to do now is compare the two amounts. If the residual value is
lower than the actual retail value, than you’re into a winner.
Unfortunately, there is a good chance a car coming off a lease is a little
on the high side.
Don’t despair though. Leasing companies know as much that residual values
on their vehicles are greater than their market value and as such are
always on the look out for offers. You can knock down on the price of your
leased vehicle with some smooth negotiating tactics. Put forward a price
that is below your actual target and negotiate hard until you wind up near
that figure.

Categories: Auto

The Danger of Buying Used Auto Parts

December 25th, 2009 Labelle Chevrolet 290 comments
Title:

The Danger of Buying Used Auto Parts




Pages: 1 2

When it comes to looking for automobile parts, there are plenty of ways in which a person can arrive at the parts that they need. However, some of the ways are authentic and clean cut. But on the other hand, some of the ways that auto parts are obtained are downright dangerous. One example of this is buying used auto parts from a junk yard, salvage yard, or auto repair shop. All of these places usually sell used auto parts that can be used for various things when repairing your car. What’s even more scary, though, is the fact that automobile shops generally put used auto parts in a car that’s going to be repaired, too, just in order to save the auto repair place a little bit of money. But here are some of the dangers of buying used auto parts if you aren’t familiar with them.

1. The History

When buying anything that’s used you rarely know the history of the product. The same holds true for auto parts , unfortunately. Consider that when you purchase auto parts from a junk yard you rarely know if that part has been through an auto accident and is a good enough piece to put on your car. Even though most of the auto parts that can be obtained through a junk or salvage yard are purchased at your own risk and without a warranty, there are some major risks associated with doing so.

2. Too Unreliable

As mentioned, used auto parts can also be purchased from auto repair shops. The reality at most auto repair shops is that the used auto parts that are there are usually kept in one large pile in the back of the repair shop. If you buy a used alternator from the repair shop then how would you know if it’ll last? It is very possible that the auto parts that are purchased from a repair shop are no good, or else if they are halfway decent auto parts they may just break down the next week. The auto parts that can be obtained through an auto repair shop or a salvage yard are just too unreliable to justify buying. Of course, you may very well be offered a refund or exchange if this were to happen, but the best thing would be to stay away from used auto parts altogether.

3. Getting Ripped Off

Another possibility, and perhaps the greatest one, is the fact that you are always able to be ripped off when buying used auto parts. Even if you don’t buy the used auto parts through a repair shop or a junk yard, if you do buy used auto parts through a private dealer then you always run the risk of getting downright ripped off. What is even more discomforting is the fact that you may never even be able to get a hold of the person ever again, too.

In

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