Author Archive

Should I Lease my First Car? Many people who are looking for an economical way to drive a new car, perhaps their first car, will look at leasing as a possible solution. The consideration of leasing is often based on a mistaken belief that leasing is like renting and doesn’t require good credit as does buying […]

Don’t Buy Dealer Products and Services You Don’t Need Once you’ve made a deal on a new car, dealers have more products to try to sell you once you get into the F&I (Finance and Insurance) manager’s office to sign papers. Backend products offered by car dealers You may be offered security systems, corrosion protection, paint sealant, window etchings, […]

We have been an expert participant on the Yahoo! Answers web site for many years, particularly in the Cars and Transportation section, Buying & Selling sub-section. We answer questions and provide advice about a wide variety of topics related to automobile buying, selling, insurance, maintenance, and car brands. Although the Answers site is open to anyone, […]

Better to Buy Pre-Owned Car, or New Car? First time car buyers have a choice of buying a brand new car, or buying a used car. Which is better? There are advantages and disadvantages to either choice. Most people would rather have a brand new car with its new-car smell and latest style, but there […]

Owning and Driving a Car is a Legal Thing Licensing In the U.S., drivers must be licensed to legally operate motor vehicles. Each state has its own licensing laws that set requirements, terms, and procedures. Minimum age is typically 16 years old, but can vary by state. Most states have special learner driving permits that serve […]

There are essentially two ways to buy a car. You can pay cash, or if you don’t have the necessary cash, you can get a loan. Actually there’s another way — leasing — that we won’t discuss here, but is discussed in a number of other articles on this web site. When you get a […]

Uninformed automotive consumers often confuse car leasing and car renting. They sometimes think the two are the same. They would be very wrong. The confusion is somewhat understandable because of the similarity of terms to that of apartment leasing and renting. Many of us can remember our parents telling us that renting or leasing an […]

Leasing can provide an affordable option to anyone needing car financing at minimum monthly cost. Upfront cost can also be minimized by paying no money down — $0 down payment. Lease payments are 60% – 110% lower than loan payments for the same car. And most leases can be obtained with zero money down— $0 […]

When you buy a car with a loan, you not only pay back the amount borrowed but you also pay finance charges (interest).  Each month’s loan payment consists partly of principle and partly of interest. Actually, the amount of principle and interest changes each month, although the total remains the same. In the beginning, you […]

Car manufacturers are constantly offering low-interest loans and other incentives to help sell cars. With “normal” interest rates around 3.0% at the time of this writing, it’s not much of a stretch for car companies to offer 1.9%, 0.9%, or even 0% loan rates. A zero-percent (0%) loan means no interest at all — no finance […]

You, the car buyer, wish to purchase a car but you don’t have the necessary cash. You need a car loan. A bank or credit union can provide you the loan you need, or your car dealer can arrange the loan for you with a bank or finance company that he works with. Understand that […]

How do I get my credit reports and my credit score? Whenever you apply for any type of credit or financing, a credit report is pulled from at least one of the three major credit bureaus. While there are hundreds of smaller credit bureaus around the country, virtually every credit bureau is affiliated with Trans […]

Car manufacturers and dealers often have special loan rates available for limited-time promotions. Are these deals worth considering? Do you save money by accepting low-interest loan deals? We see a lot of variations of low-interest loan rates from car manufacturers. Some are 3.9%, some, 1.9%, some 0.9%, and even 0%. What’s the difference? Is a […]

Car notes, or car loan payments, are the monthly payments made after a car is purchased with a loan from a bank, credit union, or finance company. Some dealers provide financing directly, in which case car notes are made directly to the dealer, but in most cases dealers simply arrange financing with a bank or […]

New Car, First Car If you’ve decided that your first car will be a brand new car, there are things you need to know about the buying and financing process that makes it different from buying a used car. New cars – only from dealers All new cars must  be purchased from state-licensed and manufacturer-authorized […]

For teens and young adults, buying that first car can be an overwhelming experience. There just seems to be so much you need to know in order to make the right decision and not make huge mistakes. It’s true that buying a car— any car — can seem a bit complex at first, but if you […]

Used Car Inspection Checklist Use this handy 50-point checklist when buying and inspecting a used car. Print it and take it with you.   Wheels and Tires Are tires worn to unsafe level (less than 2/32″ tread depth at lowest point)? Tires with less than 2/32″ tread depth at lowest point are unsafe and should […]

How do I buy a car from an individual private seller — not a dealer? When you buy a car from an individual, you pay with cash, a money order, or a bank cashiers check. The money can come from savings, a checking account, a family loan, or a loan from a bank or financial […]

How Does Car Leasing Work? Car leasing is extremely popular because it offers a more affordable method of auto financing. It allows you to have lower monthly payments than with traditional auto loans. About one out of every five vehicles driven by automotive consumers in the United States are leased. But car leasing is not […]

How to use a Lease vs Buy Calculator When you use a Lease vs Buy Calculator such as the one at LeaseGuide.com, you should understand how it works and how to get the results you want. Car leasing is a little different than buying a car with a loan. The language is different, the process […]