When is comes to purchasing a new vehicle, the second biggest decision after the type of car, is whether to lease or buy your vehicle. For each customer and circumstance, the answer is different. For the next time you need to make this decision, let your New Jersey car dealer explain the difference.
Buying
If you choose to buy the vehicle you are purchasing, your monthly payment will typically be higher and you will need to provide a down payment as well. Your initial cost will be higher, however, you will own the car one day if you keep it long enough to pay off the loan. At that time, the car will be yours and you will be debt free of a car payment. Also, when you buy a car, your insurance policy limits are generally lower than if you were to lease. Additionally, if you buy, there are no restrictions or penalties regarding mileage.
Leasing
The lease of a vehicle will lower your out of pocket expense, as there is little or no down payment required. Your monthly car payment is generally lower than if you were to buy and, there are no sales tax payments. If you are someone who enjoys having a new vehicle fairly often than perhaps leasing is the way to go. With a lease, every two to three years you get the pleasure of riding in a new vehicle. When leasing though, you will always have the obligation of a car payment, as you will never “own” the vehicle. Sometimes, your insurance coverage costs may be higher as well, and you will have mileage guidelines to follow.
So the next time you come into your New Jersey car dealer to purchase a vehicle, the choice is yours. Whether you choose to buy or lease, let the friendly staff at Sansone Jr’s 66 Automall help you make the right decision New Jersey!
As we wind down from the chaos of the holidays and get back into our daily routines, we are about to be thrown back into chaos and stress. Tax season is upon us New Jersey! That’s right; we are coming up on that time of year when we sort through all of our receipts, itemize all our spending and file all that paper. Well, don’t forget to include your receipt for that new plug-in hybrid or electric vehicle you purchased; it will earn you some credit when you file your taxes.
Although tax credits for hybrid, diesel and natural gas vehicles expired as of December 31, 2010, you are still eligible for a credit if you have purchased a new plug-in hybrid or electric vehicle within the past year. According to the Alliance to Save Energy, you may be entitled to a tax credit of up to $7,500 based on your vehicle’s battery capacity. In order to qualify for a tax credit your vehicle must meet the following requirements.
• The vehicle has to be made by a manufacturer.
• The vehicle must be used as it is intended.
• The vehicle’s GVWR or gross vehicle weight rating may not exceed 14,000 lbs.
• The vehicle must be new.
• The vehicle is used by the buyer and not resold
• The vehicle is driven mainly in the United States.
• The vehicle must be bought during or after 2010.
For a more detailed explanation and extended list of criteria, please visit www.fueleconomy.gov. So as you sit down to prepare your taxes with that large pile of paper in front of you, don’t forget to file for your vehicle’s tax credit. And don’t forget to stop by Sansone Jr’s 66 Automall. We would love to hear how big a tax credit you got New Jersey!
Is leasing a new vehicle right for you? Well, it depends! There are a lot of misconceptions out there when it comes to leasing a vehicle so I’d like to try and clear it up some.
First, leasing a vehicle is a lot like leasing a house or an apartment. You pay a monthly fee to drive it. You don’t own it nor do you have any equity towards it. Sounds a bit harsh, but leasing most definitely works for some people.
When you go into a lease there will be a contract that states how long the lease is valid for which is usually two to three years. It will also cover how much, like an apartment, your security deposit is to cover any damage that is done. It will also cover if there are any penalties if you go over your agreed lease mileage too. Basically your contract will hold all of your fine print.
So after all that is leasing really great?
To some yes, it makes perfect sense. You need to evaluate your lifestyle and see what your vehicle needs are. The biggest benefit of leasing is flexibility. With leasing you are looking at a two, possibly three year commitment versus buying a car at five plus years.
Another benefit is that if you like to have the latest and greatest then leasing is most definitely for you. You get to drive the new Nissan New Jersey for a few years then you have the option of trading it in and getting something that’s brand new.
Should you fall in love with the vehicle you are leasing and just can’t bear to separate from it then you will have the option at the end of the lease to purchase it.
Another benefit to leasing is that the monthly payments may be less than if you were to buy a car. That’s because the lease payments are based on just a portion of the vehicle’s value, not the entire MSRP like it would be if you were to buy a car which means there’s more cash in your pocket.
If you are interested in leasing a new vehicle then I invite you to come by Sansone Jr’s 66 Automall and let’s have a chat to see if leasing if right for you!
We have a lot of folks come through my dealership that don’t understand the importance of their credit score or even what their credit report consists of and how it affects buying a car. Your credit score determines if you can or cannot qualify for a car loan, a mortgage, a credit card and so much more. It’s very important to know what your credit score is and how to protect it. It’s pretty much your report card on how you’ve handled your finance for the past seven years. Pretty important stuff if you ask me!
So how does your credit score affect the car buying process? For the most part, it will affect the loan rate. The closer your credit score is to 800 and not below 700, the greater chance of getting a good loan rate. However, if you have not so good credit you may end up with a higher rate. The beauty about this part is that if you decide to work on your credit first to ensure a good loan rate, then focused on a new car, you will likely get a higher rate.
In fact, whether you need a car today or simply want to improve your credit and have some time before you need a new car, contact me. Sansone Jr’s 66 Automall has products to help with both scenarios.
So next time you are out car shopping, know what your credit score is so that you can make an informed purchasing decision. Stop by today!
It’s a great day as a NJ car dealer when a customer is so happy that they cry. Thankfully it’s the good kind of crying… tears of joy.
A rent to own auto customer referred Bernadette to the Sansone Jr’s 66 Automall’s team in Neptune. We’re so thrilled to have been able to help Bernadette. Take a look at this video:
If you want to be the next Bernadette just swing by our Neptune dealership! As always, Sean Lennon and George did a great job helping our customer.
In my last two blogs, we reviewed two of the three components of what makes car buying difficult: price and trade in. The last piece of the puzzle is financing, which is the biggest variable in purchasing a vehicle and here’s why.
Every customer’s financing history is different. Maybe a customer has never bought a car before, has no credit history and needs a co-signer. Perhaps a customer had a very long, excellent credit history, then was laid off and forced to get a job at a significant salary reduction. Maybe a person has had steady employment for many years, recently got divorced and just doesn’t make a lot.
Whether you have a good financial history including paying off creditors on time & every month, your monthly income and how many outstanding balances you have, all affect your credit score. The fact is, a customer’s credit score is the biggest component of financing.
A car dealer’s relationship with its lenders is also important. If a NJ dealer has been in business for many years, they probably have a good rapport with their financial lenders, often making it easier to get a customer approved. Dealers who work with several banks might be able to offer a wider variety of financial programs to accommodate the array of customers’ financial situations.
And this probably isn’t surprising, but having a higher down payment is always helpful. The simple fact is the more money you can put down on a car or SUV, the less that will have to be financed. The less you have to finance, the easier it will be to get approved.
At the risk of sounding like I’m shamelessly promoting myself, you should check out this video about my new Rent-2-Own program. I developed this program because I’ve seen so many good people having troubles getting auto loans.
But no matter what your situation, a good dealership treats every customer how they would like to be taken care of: with respect. Remember that the next time you’re car shopping. And feel free to ask me any questions you want about my Rent-2-Own program.
There is some pretty good advice about buying a used car in this video. Take 2 minutes to watch and when you are ready to buy a new car, check out the used selection first. There are a lot of hidden gems that can give you many years of great driving and save you more than just cash, a good used car can save you headaches. Remember to check around for a reputable dealership or if you are in New Jersey you can swing by and check out the best selection of used cars in the Tri-State area…I know, I’m a little biased.
If you remember one thing, remember this: Would your driving life have been different in a luxury car worth three times the cost? Maybe. But regardless, you’d still be where you are now. The difference is that at this moment, you’d have a whole lot more money in your pocket.
Did you know that there is a reasonable chance that your credit report may contain mistakes? That’s right mistakes that are almost certainly affecting your credit score.
Now, you might be asking, “Mistakes? How can there be MISTAKES on my credit score?”:
It is estimated that as many as 80% of credit files have errors. If your credit report contains errors, it is often because the report is incomplete, or contains information about someone else. This typically happens because:
You applied for credit under different names (for example, Margaret Jones versus Margaret Jones-Smith)
Someone made a clerical error in reading or entering name or address information from a hand-written application
You gave an inaccurate Social Security number or the number was misread by the lender
Loan or credit card information was inadvertently applied to the wrong account
Now, did you know with the right credit service you can get mistakes removed? I’ve recently had a customer use this service at my store and his credit jumped 133 points HIGHER in 2 months. He went from below 500 to about 633. That I find extremely exciting. Finally, we have a credit repair service that actually does what they say the are going to do.
If your credit needs some serious attention, I do not hesitate to recommend United Credit Education Services. More and more people are coming through my place able to get the car that they need because of this service.
If you have any questions about this service please don’t hesitate to ask. If you’ve used this service, tell me about your experience!
If you are in the market for a new car, but like so many other Americans, have hit a wall because your credit needs help…you are reading the right blog!
Now if you were smart enough to click on the link above, you would be looking at one of the Nation’s best credit restoration agencies. Further, you would have learned that your credit report might be filled with errors…errors you are still responsible for!
Here are a couple of United Credit Education Service video you may want to watch…especially if you are serious about restoring your credit
Here’s one more with even more information that you’ll find useful>
If you have any questions on how to fix your credit so you can get that new car you really need, don’t hesitate to leave a comment.
Ok, I’m sorry about this, but it’s time for a little self promotion. My wife, Chris and I developed an “Industry First”, really unique and neat car purchasing program that is specifically designed for the female car buyer. You can shop by appointment, enjoy one set low price, plus work directly with some really amazing female sales people. No negotiations, just women working together and empowering other women in what has been traditionally a male dominated industry.
Self-Promotion over…what I really wanted to show you was this fantastic wrap on Women Selling Cars To Women’s new Nissan Cube!
I think they look pretty great! What do you think? If there are any ladies out there interested in learning more about Women Selling Cars to Women, don’t hesitate to leave a comment. Tell me what your think!
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