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Leasing a Car vs. Buying a Car: When Should You Lease?

Can’t decide whether you should lease or buy your next vehicle? Don’t worry because you are just one of many people who contemplate this purchase decision on a daily basis in the United States. Just as kids and teenagers should be taught in school how to open a checking account, how to responsibly use a credit card, what to do to improve their credit history, how to change a flat tire, why you don’t wash your neon yellow shirt with your white Polo golf shirt, someone who has molded your mind thus far in life should have explained the differences between leasing and purchasing an automobile. Moreover, you need to fully understand what type of impact each could have on your daily life financially and logistically.

If you haven’t come to this conclusion as of yet, let me be blunt…Leasing a car versus buying a vehicle is very different. Buying or leasing a car boils down to two basic things; the person, primarily their driving habits, and the financial situation. When you weigh these two aspects against one another, the advantages and disadvantages of both choices will become evident and ultimately place you in the appropriate purchase bucket for you.

If you are an individual who intends to have the same vehicle for an extended period of time, let’s say a Nissan sedan, and prefer more flexibility when the time comes to sell the vehicle, buying a Nissan is the choice for you. On the flip side, if you desire to drive a new vehicle every two years or 36 months (these are two standard time frames to lease a vehicle for), the best financial decision for you is to lease your car. Here is a fun fact as you consider this point; a typical car lease lasts half the time of a typical car loan. Once the lease is up, you can move on to your next cool ride.

Another factor that may place you in the leasing bucket is whether or not your vehicle of choice is out of your price range. Reason being, leasing a car is best understood by the masses when compared to renting a shore house for the summer. Thus, you are only paying for the time and use (mileage) of the vehicle for the given and agreed upon lease term. By not buying the whole car, you will lower your monthly payments by 30% to 60% when leasing. You are only paying for a portion of the car and as a result your monthly payment is lower compared to your monthly payment when financing the vehicle and being responsible for the entire car regardless if you drive it for two years or 15 years. Plus, you pay sales tax only on the portion of the car you finance. To be exact, you finance the cost of the depreciation of the car while you’re driving it…that is your lease payment.

Furthermore, leasing has another financial aspect making leasing a better choice relative to buying a new car — like the fact that up-front out-of-pocket expenses are generally lower. For example, the down payment is usually low, and sometimes nonexistent. Have you ever heard the term “Sign and Drive”? This commonly used term in the auto industry simply means that you put no money down, sign the lease agreement and drive off into the sunset. Not only are monthly payments much lower than loan payments, leases are often easier to obtain than a loan.

Are you too busy to worry about the wear and tear of what will most likely be the second largest purchase you ever make in your life? It’s okay if you are because most Americans dread the chore and cost of maintaining their vehicle. When leasing a vehicle, the lease terms already include the wear and tear on the vehicle as well as the specific mileage so you never have to worry about anything aside from the rare $19.99 oil change every 6 months or so (really depends on the amount of miles between oil changes). Plus, some leases can include the cost of basic vehicle maintenance. To put this into concrete numbers, leasing saves the average car owner up to $1,200 a year on repair and maintenance fees. Eliminating the financial headaches of depreciation and mechanical problems are two driving forces that push people into leasing because knowing that your only responsibility is returning the car to the dealer at the end of the lease is gratifying in its own right. Keep in mind that you have also erased the headache of negotiating the value of your trade-in at the end of your lease because you don’t have one. You just drop it off at the dealer with the keys!

The length of a lease or ownership can be looked at from a number of different angles, and once again, comes down to your personal life. In a six year period, you could have leased two different vehicles or owned a single one. Looking at this from one of two ways, either you would have to return and repay for a new vehicle, or you have been given the opportunity to choose an entirely new model.

Those who plan on keeping a vehicle long term will benefit financially once the vehicle is paid off, avoiding the need to repay down payments and never ending monthly lease payments. Also, going beyond the pride in ownership, buyers will be able to customize the vehicle however they like, and sell it wherever and whenever they please. Did you know consumers in the USA on average spend $700 on vehicle modifications? Individuals who decide upon leasing will not have this luxury; however, depending on the purchase, some businesses consider a car lease a tax write-off.

Depending on your financial situation and priorities behind choosing a new car, we recommend you speak with our experts here at Windsor Nissan in East Windsor, NJ, who will be able to further help you weigh the options and make a decision you feel happy and secure with. To be honest, most people do not lease, or even consider leasing as an option, because lease contracts are confusing and Americans do not like to admit what they do not know. Hopefully, this article eliminates this bullet point since you should be far more educated than the average consumer upon reading this.

As the debate continues, a recurring theme that weighs on the decision to buy a car is flexibility. Mileage limits are not a problem so if you wake up on Wednesday morning and decide that you want to drive across the country, it is your car so you can do as you please. Plus, if you are committed to a lease and your driving needs change…tough luck. It is costly to terminate a lease early.

After buying a car, you can add the vehicle as an asset to your personal balance sheet because again, you own the car. Remember you are more or less borrowing the leased vehicle from the leasing company who is the true owner of the car. Many people view actual ownership of the vehicle as an important advantage because it can be more economical over the long run as you build equity in the vehicle over time.

While leasing may appear to be the best bang for your buck, especially if you avoid extra mileage fees, there are extra expenses with a lease that you must be aware of. Insurance rates are usually higher for leased vehicles since lease coverage may include gap insurance, which pays off what is still owed on the lease in the event the car is totaled. And, by returning your leased car every three years (really whatever your lease term is), if you lease a car that requires a down payment, that expense will come out of your pocket each time you get a new lease. Plus, each time you turn in your old car for a new one, there are added fees like doc, motor vehicle, NJ tire tax, etc..

Now consider the person who purchases or finances a car. At the end of five years of car payments, the car now belongs to him or her. Five years was the standard finance length for Americans, but leading up to the financial meltdown, many consumers were entering lengthier car loan terms along the lines of 72 and even 84 months. The pendulum has swung back in the other direction as many bank institutions prefer 60 month loan terms and therefore make extended term options so costly that most pass and agree to a 60 month car loan term. It might not have much value on the open market, but if you’re willing to drive it for several more years, it becomes nearly free transportation until the wheels fall off.

To put an end to this debate, here are the basic nuts and bolts in summary. Leasing makes it easier, and/or possible, to get more car for less money. You are essentially paying, “renting”, for a portion of the car, instead of buying the entire automobile. So, like many things, leasing looks great in the short run. However, if you really pencil the dollars and cents and you take the long view of economics, you will see that leasing will eventually be more expensive. It is more costly because once you begin leasing, there is a very high likelihood that you will continue to do so forever. Auto manufacturers’ and car dealers often entice leasing customers with private lease pull ahead offers that enable the lessee to return their vehicle 3 months early with no penalty and get into a brand new model. And by the way, this is a great offer and there is no reason not to take advantage of it; you would be silly not to. But, this means you will always have a car payment and never own anything.

Ultimately, leasing isn’t only a dollars-and-cents question — it’s about personal tastes and priorities. Whether you choose to lease a car or buy a new car, you must educate yourself so that you can negotiate a great price at the dealership either way.

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Windsor Nissan has announced a Historic 3 Day $990 Sale

Biggest Sale in Windsor’s 20 Year History

East Windsor, NJ – General Manager Michael Maguire has announced a $990 Pre-Owned Vehicle Sale on Friday, October 25th at 9:15AM and ends on Monday October 28th at 9PM.

This sale is taking place at Windsor Nissan 590 US 130 East Windsor NJ, just minutes from Route, I-95 and Route 1. Registration starts at 9:00AM. Vehicles will be clearly marked, so come early for the best selection.

This is a one-of-a-kind, three day only sale designed to get the local community driving again. According to General Manager Michael Maguire “We are helping those people that just can’t afford a car right now.”

Windsor Nissan’s pre-owned inventory levels need to be reduced to make room for the arrival of additional 2014 Nissan models. As a result, Windsor Nissan is selling these additional pre-owned vehicles to the public at drastic discounts in an attempt to help its core customers get back on the road. These are the regular folks who are feeling this economic downturn the hardest.

Windsor Nissan believes that reviving the economy starts at home, and that changing things locally will lead to changing things nationally.

In addition to Windsor Nissan’s extra inventory, additional vehicles have been acquired at incredible prices from various banks, repossession companies, auto auctions, credit unions, lease companies, and rental companies for this sale.

The $990 Pre-Owned Vehicle Sale will make vehicles available at low prices that are not normally offered to the general public. According to Mr. Maguire, “We want to give our customers a reason to believe in the local economy again. Someone’s got to look out for their best interests.”

Customers are encouraged to arrive as early as 9:00AM. Every vehicle will be cleaned, detailed, and fully prepared for instant delivery. At 9:15AM, Michael Maguire and his team will mark the special sale price on each and every vehicle.

And because Windsor Nissan customers are feeling the credit crunch right now, Mr. Maguire has given the dealership’s financing manager the resources necessary to get most customers’ credit approved on the spot. This means that customers with “less than perfect” credit history can have their credit approved and drive a quality pre-owned car, truck, van or SUV home. Even if a customer’s credit report shows a bankruptcy, divorce, tax lien, slow payment history, missed payment, or repossession, or if a customer is a first time buyer, Windsor Nissan will accept all applications.

This special, THREE DAY ONLY $990 Pre-Owned Vehicle Sale will be held in East Windsor on Friday, October 25th at 9:15AM and end on Monday, October 28th at 9PM.

Customers are encouraged to register as early as 9:00AM. Incredible sale prices, starting as low as $990, will be posted no later than 9:15AM. All vehicles will be sold on a first come, first serve basis. Windsor Nissan is expecting a high volume of customers for this sale, so be sure to reserve your spot early.

Customers wishing to trade in a vehicle are asked to bring their title or payment book for immediate delivery. Windsor Nissan will even pay off your trade-in in full, no matter how much you still owe on it. Negative equity will carry forward. Most of these surplus pre-owned vehicles will get sent directly to auto auctions for liquidation. So, if anyone has been thinking about purchasing a good, clean, dependable pre-owned car, truck, van or sport utility vehicle, do not miss this special one day only sale.

For more information about this sale at the Windsor Nissan, please contact them at: 1-800-884-3816

590 US 130, East Windsor, NJ 08520
1-800-884-3816
We Speak Spanish

www.windsornissan.com

Save the Date for Heroes and Princesses at Windsor Nissan

On May 19th 2012, Windsor Nissan will be hosting a special Heroes and Princesses of NJ Meet and Greet. WPST radio station will be broadcasting live on location for this miraculous event. Bring the family to Windsor Nissan to meet the Firefighters of East Windsor Vol. Fire Company #1, and see the fire trucks. And Ms. New Jersey World International, Evelyn McCleod will be here dressed to impress. And for all the kids who attend, with their parents, a special gift! There will be food, and refreshments, and a lot of fun going on at Windsor Nissan! So make sure to save the date for this wonderful event. And while you are here, be sure to check out the great deals on all new and pre-owned vehicles!

 

Save the Date for Heroes and Princesses at Windsor Nissan

Save the Date for Heroes and Princesses at Windsor Nissan

 

And we will have the 2013 Nissan Altima on display…even with body guards. No one has seen the 2013 Altima, not even the staff at Windsor Nissan. So be the first to preview the new Altima! You have heard about it, now come see it in person! ONE DAY ONLY, May 19th!

The Nissan 2011 Murano Make-Over

The Nissan 2011 Murano make-over brings forth new taillights, wheel design, grille and bumper to this amazing crossover!

The Nissan 2011 Murano Make-Over

The Nissan 2011 Murano Make-Over

But Murano lovers need not worry, the changes are small and do not overtake the look of the Murano. If anything, this year’s Murano will attract even more people because there will be two additional models in the line-up (making a grand total of 8 versions of the Murano).

The Nissan 2011 Murano Make-Over

The Nissan 2011 Murano Make-Over

Windsor Nissan will have all of the facst and figures on the Nissan 2011 Murano make-over, so give one of the salesmen a call at 609-448-1411 for all the details! Or visit Windsor Nissan on the web at www.WindsorNissan.com to read the crossover’s review and to compare the Nissan 2011 Murano make-over models side by side!

The Nissan 2011 Murano Make-Over

The Nissan 2011 Murano Make-Over

What comes with the exterior of the Murano?

  • 20″ aluminum alloy wheels w/titanium finish
  • P235/55TR20 all-season tires
  • Temporary spare tire
  • Dual panel pwr moonroof
  • Roof rails w/silver accents
  • Body-color front/rear bumpers
  • Auto on/off HID xenon headlights
  • Front fog lamps
  • LED rear lights
  • Rear privacy glass
  • Body-color pwr heated outside mirrors w/driver-side memory
  • Rain sensing variable intermittent windshield wipers
  • Intermittent rear window wiper w/washer
  • Pwr liftgate
  • What comes with the Interior of the Murano?

  • Front bucket seats w/adjustable active head restraints
  • 8-way pwr driver seat w/pwr lumbar support, memory feature
  • 4-way pwr passenger seat
  • Heated front seats
  • Heated rear seats
  • 60/40 fold flat reclining rear bench seat w/pwr return feature
  • Leather seat trim & door inserts
  • Dual level center console w/storage
  • Full carpeting
  • Pwr tilt/telescopic steering column w/memory
  • Heated leather-wrapped steering wheel w/cruise & audio controls
  • Electroluminescent gauge cluster w/white lighting
  • Drive computer w/outside temp display
  • Pwr windows w/front one-touch up/down & safety reverse feature
  • Pwr door locks w/speed-sensitive auto lock, selective unlock feature
  • Pwr fuel door release
  • Remote keyless entry
  • Intelligent Key w/push button ignition
  • HomeLink universal transceiver
  • Engine immobilizer system
  • Vehicle security system
  • Cruise control w/steering wheel controls
  • Air conditioning w/dual zone automatic temperature control & microfilter
  • Rear HVAC vents
  • Rear window defroster
  • Front door map pockets
  • (4) cup holders
  • (3) 12-volt pwr outlets
  • Wood tone trim accents
  • Auto-dimming rearview mirror w/compass
  • Driver/front passenger visor extenders & illuminated vanity mirrors
  • (4) assist grips
  • (2) coat hooks
  • 1st row map lights
  • 2nd row reading lights
  • Mood lighting
  • Leather shift knob
  • Front seatback pockets
  • What are the Safety features of the Murano?

  • 4-wheel anti-lock braking system (ABS)
  • Electronic brake force distribution (EBD) & brake assist (BA)
  • Traction control system (TCS)
  • Vehicle dynamic control system (VDC) -inc: 4-wheel limited slip (ABLS)
  • Front & rear crumple zones
  • Nissan advanced air bag system (AABS) -inc: driver & front passenger dual stage airbags, occupancy sensor
  • Front seat-mounted side-impact airbags
  • Roof-mounted side curtain airbags for all rows w/rollover sensor
  • Active head restraints
  • 3-point ELR seat belts all seating positions
  • Front seat belt pretensioners & load limiters
  • Child safety rear door locks
  • (2) child seat anchors
  • Rear back-up camera w/7″ color monitor
  • Tire pressure monitoring system (TPMS)
  • Energy absorbing steering column
  • What are the Mechanical aspects of the Murano?

  • 3.5L DOHC 24-valve V6 engine
  • Variable valve timing (CVTCS)
  • Double-tipped platinum spark plugs
  • Continuously variable transmission (CVT)
  • All-wheel drive
  • Front tow hook
  • Independent strut front suspension
  • Independent multi-link rear suspension
  • Front/rear stabilizer bars
  • Speed-sensitive pwr rack & pinion steering
  • 4-wheel vented disc brakes
  • Dual exhaust system w/chrome finishers
  • 2010 Nissan Armada

    2010 Nissan Armada

    If you’re looking for brute power, the Armada is king. Its V8 engine can handle a car full of people, a minimum of 6,500 pounds in tow, and the gear that goes with it all. The three available trim levels offer a price point for almost everyone, with the Platinum model having all the luxury appointments of its competitors, but with a lower price tag.

    2010 Nissan DashBoard

    The Nissan Armada is powered by a 5.6-liter V8 engine, with 317 horsepower, 385 lb-ft of torque and continuously variable valve timing, mated to a 5-speed automatic with tow/haul Mode. All three trim levels are available as rear-wheel drive or 4-wheel drive. And in some areas of the country, the Armada is available as a Flex-Fuel vehicle capable of using ethanol.

    2010 Nissan Armada

    Despite its size and massive engine, the Armada is surprisingly responsive. It incorporates anti-lock brakes, active brake limited slip, electronic brake force distribution and brake assist. It also has independent double wishbone suspension front and rear, with the rear being auto-leveling. The Armada comes with standard automatic headlights, heated power outside mirrors and rear sonar for assistance while backing up. The differences between the three Armada styles start with the exterior. The SE sits on 18-inch wheels and a body-color grille, while the Titanium and Platinum get 20-inch rims and a chrome grille.

    2010 Nissan Armada Music Box

    As for the interior, it comes with dual-zone temperature control, rear air conditioning with rear controls, cruise control, 8-way driver’s seat and speed-sensitive windshield wipers. The Titanium and Platinum trims add standard keyless ignition, Bluetooth, a 4-way passenger seat, power 60/40 third-row seat, leather seats and wood trim. Exclusive to the Platinum level is the Nissan Hard Drive Navigation System with XM NavTraffic, heated front seats with memory, and heated, leather-wrapped steering wheel. Seating eight people means someone is going to need to be entertained, so the Armada has a standard 6-CD system with MP3 playback, auxiliary jack and rear audio controls with wireless headphone capability and headphone jacks. The stereo can be upgraded in the Titanium and Platinum Armadas to a 12-speaker Bose system, while a 9.3GB Music Box hard drive and card reader are standard equipment at the Platinum level.

    2010 Nissan Armada Engine

    2011 HHR Review

    For 2011, the HHR sees few changes. The SS turbocharged model is discontinued, as is the LT panel model. Black, Aqua Blue, and several accent stripes are no longer available, as are Cashmere cloth interior trim and Cashmere leather interior trim. Black Granite Metallic is a new extra-cost color and Mocha Steel Metallic is also now available.

    2011 Chevy HHR Dimensions

    HHR stands for “Heritage High Roof,” and it is the high roof that provides ample interior headroom and generous cargo volume. Combined with a highly configurable interior, including removable rear seats, the HHR is a versatile passenger and cargo hauler. Captain-style seating allows good visibility and SUV appeal.

    2011 Chevy HHR

    Chevrolet’s HHR debuted in 2006 to much enthusiasm, selling over 100,000 units in its first year. The attention-grabbing style continues in 2011, featuring a big chrome grille and a long, smoothly curved hood reminiscent of Chevy’s 1949 Suburban. The rear tailgate is framed by two small, round taillights, making the HHR one of the most unique looking vehicle in Chevrolet’s lineup. The HHR’s front wheel drive platform is borrowed from the Chevy Cobalt, yet is aimed at those looking for more style and greater cargo room than the Cobalt provides.

    2011 Chevy HHR Interior

    The base LS and the 1LT come with a 2.2L inline 4-cylinder engine making 155 horsepower and 150 pound-feet of torque. The 2LT upgrade comes with a 2.4L 4-cylinder engine, which makes 172 horsepower and 167 pound-feet of torque. The standard 5-speed manual transmission can be upgraded to a 4-speed automatic on all trims. The base LS comes with standard 16-inch wheels and many common standard features, such as cruise control, air conditioning, power doors and windows. Floor mats, luggage rack, MP3 player and remote engine start are some of the options available on the base LS.

    2011 Chevy HHR Panel Truck

    The LT trim adds a power driver’s seat and cargo net over the LS. Available options for the LT include steering wheel controls, a leather wrapped steering wheel, leather seats, heated front seats and power lumbar support. The 2LT trim, which increases the price by about $1,700, adds a sport-tuned suspension, 17-inch alloy wheels, fog lights, a leather-wrapped steering wheel and shift knob, premium sound system, fog lamps, steering wheel controls, wireless cell phone hookup and chrome 17-inch wheels.
    Standard safety features on all HHRs include StabiliTrak stability control, 4-wheel ABS, a full array of airbags front and back and a tire pressure monitoring system. Upgraded wheels, audio systems and a variety of comfort and luxury features are available across the model range, allowing buyers to choose their level of customization. Running boards are standard on the 2LT, optional on 1LT and LS. A sliding sunroof/moonroof is optional on LTs.

    Nissan Brings Forth New Technologies

    Nissan has always been a front runner in the technology race, and this year will probably be no different. Nissan announced two new technologies that they will be using in their 2011 vehicle line-up: The Forward Collision Avoidance Assist Concept and Moving Object Detection.

    Nissan Logo

    Foward Collision Avoidance Assist is a technology aimed at helping, “drivers avoid hitting vehicles ahead of them that may have come to a stop or are traveling significantly slower, while also helping to reduce the chance of a rear-end collision by helping to avoid sudden braking, ” according to Mark Kleis. This new technology uses radar to detect the speed and distance of a car in fr0nt of it. When a vehicle starts to slow down or becomes too close to it, a warning will sound and display on a screen AND the the technology will send a signal to the accelorator to slow down and to the brake to slow down the car, as well.

    Forward Collision Avoidance Assist

    Moving Object Detection is another technology by Nissan that uses sensors to detect the movement of bicycles, pedestrians and other drivers. When an object is detected, the device warns with driver audibly and visibly on screen. Nissan says that this technology will help avoid accidents in parking lots and areas with lots of small children/objects.

    Moving Object Detection

    2010 Chevrolet Impala Review

    The Impala is a large, front-wheel drive sedan that comes in three different models ranging from simple to sporty. The base Impala LS comes with a 211-horsepower, 3.5-liter pushrod V6 engine, as does the mid-level LT. Standard on the top-of-the-line LTZ is a 230-horsepower, 3.9-liter V6. With either of the engines, a responsive 4-speed automatic is the only transmission offered, and both V6s provide perfectly adequate performance for keeping up with traffic, even when fully loaded. Additionally, both engines come with flex-fuel capability to accommodate up to 85% ethanol.

    2010 Chevy Impala

    LS and LT models come with suspension settings that favor ride quality but provide good handling control, with rack-and-pinion steering, front MacPherson struts, and stabilizer bars front and back, with 16- or 17-inch wheels and tires. On these models, the ride is especially quiet and well isolated. The LTZ adds larger stabilizer bars, a sportier suspension tuning and W-rated 18-inch performance tires.

    2010 Chevy Impala

    The Stabilitrak stability control system is standard on all Impalas, as are six airbags, including side thorax airbags for front-seat occupants and full-length side-curtain airbags. Four-wheel anti-lock disc brakes are also included on all Impala models, and OnStar is included as standard on all Impalas for the first year.

    2010 Chevy Impala Interior View

    The Impala’s interior makes the most of available space, with plenty of legroom for front and rear occupants and enough space in back for two adults of nearly any size to be comfortable, but there is room for three. LATCH child-seat tethers are included in all three rear seating positions. Available on LT and standard on LTZ models is a flip-and-fold-flat rear seat, which allows a continuous loading space through the trunk. The Impala is also one of the few remaining cars in its class to offer an available front bench seat, to accommodate three across and six people total.

    Base LS models come with most of the conveniences buyers expect, including power windows, keyless entry, cruise control and air conditioning, plus dual-zone manual climate control and a 6-speaker CD sound system with XM Satellite Radio. LT models get a number of appearance enhancements, plus a remote start system, cast aluminum wheels and foglamps. LTZ models are the most luxurious and bring a long list of extras like heated seats, a universal garage door opener, Bluetooth hands-free calling, steering-wheel audio controls and a Bose 8-speaker sound system. Nuance leather upholstery with French seams is also included. All sound systems feature an auxiliary input jack for other sources such as iPods.

    Chevy Impala Rear View

    Convenience and Luxury packages are available on the LT, and include many of the amenities found on the LTZ, such as Bluetooth, universal remote, heated seats, heated power mirrors and the Bose stereo. Stand-alone options on the LTZ include a power sunroof and a dealer-installed dual-screen rear DVD system.

    Chevrolet Malibu Comparison Specs

    The best family sedan car

    Brand new car less than $150/ month

    This is a familiar situation for every middle class people in America.  You are really desperate to have a new car, have approached many car dealers and you find your car is not eligible for trade in either in “black, yellow or orange books.” Your monthly   budget installment is just$150. Even the junk yard guys are ready to give $75 to dispose and clean it off. Is this worrying you dude?

    Do not worry, now you can hold your head high, your Junk car has become clunker and may be eligible for $4,500 as trade in when you buy a new qualifying car. The launch of “Cash for Clunkers” by Obama administration may help you to own a new car for less than $150/ month.

    It is time to raise your head high, take a walk in the hot sun with self respect and own a brand new car.

    To see our latest car models, visit us at  http://www.maguireauto.com or mail Jennifer at jenn.nelson@maguireauto.com for a test drive.

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