| How the 'voodoo' of car leasing will make it appear the least expensive option OTTAWA — Canada's auto guru Dennis DesRosiers has a rapid response to the question of whether it's best to lease or finance a new car _ pay cash. Aceto says the CAA does not pick sides, but advises members to ``do the math'' and consider carefully their preferences. ``Residuals are extremely volatile and nearly impossible to predict. By DesRosiers' calculations, about 18 per cent of Canadians leased their vehicle last year, while the vast majority financed. That's why monthly payments are usually lower, but at the end of the lease, the consumer doesn't own the vehicle and will have paid more in interest than on a loan. ands down, no exceptions, but it doesn't look that way. ``The embedded interest in a lease is typically about $100 a month higher than the interest on a loan,'' DesRosiers says. First, if you are the sort of person who will be addicted to the new-car smell, lease if you can afford it, he says. ``It depends,'' he says, on what you expect out of your driving experience and whether you are more sensitive to the size of monthly payments or the end-of-use total cost of the purchase. Repeat the process. ``It's the voodoo of leasing,'' DesRosiers says. Take a brand new car, drive it for three years, then return it and get another new car. As well, there are additional costs that could accrue on a lease, and they can be substantial. ``For 15 to 20 per cent of clients, leasing is a viable option, but for the rest they would be better off financially with a loan,'' he says. ``The issue is not whether you would like a whole new vehicle every three years, it's whether you can afford a whole new vehicle every three years and most consumers can't. . ``So leasing is a consumer beware item,'' he says. ``Some people like the flexibility of a lease, they like to have a brand new car every two or three years, and they don't have to worry about maintenance because when the car is new, usually that's when repairs are the fewest,'' she says. But he realizes most Canadians can't just lay down tens of thousands of dollars at one go, or don't wish to, so when asked about the remaining options, his response is more nuanced. As well, DesRosiers says many consumers wind up paying hefty penalties if they put on more than 25,000 kilometres a year, not that unusual since the average driver in Toronto clocks in at over 30,000 annually. You may not own the car at the end of the lease term, but then you don't have the worries older cars can bring, including breaking down and repair costs. ''. How the 'voodoo' of car leasing will make it appear the least expensive option |
Friday, 2 March 2012
How the 'voodoo' of car leasing will make it appear the least expensive option
Thursday, 1 March 2012
Donnington vauxhall cars
| Breaking News! if you want the best deal for Donnington vauxhall cars in Newbury or Donnington get in touch with Car Quest Newbury as quickly as possible. As always, Car Quest Newbury will continue to give our customers value for money on: - Donnington audi cars for sale - Bmw cars in Donnington - Bmw cars for sale in Donnington |
Ford Retiring Finance Chief Booth Says Loss in Europe Mayit $600 Million
| Ford Retiring Finance Chief Booth Says Loss in Europe Mayit $600 Million
"We're going to have a tougher time in Europe than perhaps we anticipated at the beginning of the year," Booth said. Booth, 63, became Ford's finance chief in November 2008, as the automaker was completing a year in which it lost a record $14. 26. "The European overcapacity is well understood," Booth said. The shrinking market in Europe will force automakers to finally cut factory capacity there, said Booth, who ran Ford's European operations before taking the finance role. "Just putting two companies together doesn't solve a capacity issue," Booth said. Ford Retiring Finance Chief Booth Says Loss in Europe Mayit $600 Million |
Blowout Car Sales Will Shift to Lower Gear
| Blowout Car Sales Will Shift to Lower Gear Car buyers are paying with cash these days, not clunkers. light-vehicle sales for February, due out Thursday, to surpass the August 2009 level when Uncle Sam temporarily juiced activity through subsidized trade-ins. That would come after a surprisingly strong January, marking the second consecutive month that the seasonally adjusted annualized rate of sales topped 14 million. |
Wednesday, 29 February 2012
Vehicle disposal London Arena
| As a specialist company you can expect us to offer the best prices for vehicle disposal London Arena and: - Car for scrap Aldgate - Cars for scrap in Aldgate - How to scrap a car in Aldgate. With our helpful but reaonably priced services we are able to help you with all types of work and can ensure that vehicle disposal London Arena is to your satisfaction. |
Performance ecu remapping in Newmarket
| Performance ecu remapping in Newmarket If you're thinking that you might require performance ecu remapping in Newmarket, then be certain to give Torquing BHP Ltd of Cambridge a call. We have had much experience in performance ecu remapping and we can aid you with the least possible disruption and fuss. If you live in Newmarket and you need: performance ecu remapping Newmarket or Newmarket performance ecu remapping, - then get in touch with us on the spot. We can also help with: - Car performance tuning Bedford - Car tuning performance in Bedford - Ecu remapping in Bedford. |
Car body repairs in Warrington
| Car body repairs in Warrington Do you require car body repairs in Warrington? If you live in Warrington and you want car body repairs Warrington or Warrington car body repairs, then the best company for you to call is Dent Magic of Warrington. Get in contact with us today and see why our customers return to us again and again. If you require: - Liverpool bumper repair or: - Liverpool bumper repair - we will help with that too. |