Tag Archives: trucks

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 Best Choice Sales Event June 22nd, 2013

Exclusive Windsor Nissan June Sale

Exclusive Windsor Nissan June Sale

 

Nissan to Build All-New Version of Titan Full-Size Pickup Truck

Nissan is planning to build an all-new version of its Titan full-size pickup truck, though the automaker hasn’t yet announced a timeline for this new vehicle. The company said it wants the new vehicle to appeal to fleets and commercial vehicle owners and retail customers.

“As a full-line manufacturer, Nissan aims to be a player in every part of the truck business,” said Pierre Loing, vice president, Product and Advanced Planning and Strategy, Nissan Americas. “Our truck teams in Michigan, Arizona, Tennessee and Mississippi are hard at work on a next generation full-size truck line that will expand Titan’s appeal to a broader spectrum of truck buyers, including the all-important skilled trades-buyers. Our new truck will be filled with Nissan innovation and expertise without compromise.”

In addition to its plans for its all-new Titan, the automaker said sales of its Frontier compact pickup truck are still experiencing strong demand, with sales up more than 35% over the last two years.

2011 Silverado HD at Bob Maguire Chevrolet

Its the Season of Doing Event at Bob Maguire Chevrolet, and what better a way to get your doing DONE than with a Silverado HD? Bob Maguire Chevy of Bordentown has a HUGE selection of Silverado trucks to choose from. And, as always: if you bring us a deal from another dealer, we will BETTER that deal! Stop in today before the savings are gone!

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey’s design is virtually unique in the market. It attempts to solve both passenger-hauling needs and cargo-hauling needs with a single truck.

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

There’s almost nothing else quite like the The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey’s folding mid-gate in the market– it allows the bed to be expanded only when needed and have more interior space the rest of the time.

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

Overall, handling and ride quality are a step above what might be expected in a full-size pickup and the cabin has a refined feel with top-notch materials. Towing capacity of the 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey is an impressive 8,100 pounds.

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

The 2011 Chevrolet Avalanche at Bob Maguire Chevrolet in Bordentown New Jersey

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

The Nissan Frontier at Windsor Nissan in East Windsor, NJ is a capable, but moderately sized alternative to full-size trucks.

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

It’s smaller size can provide better off-road as well as parking lot capability, and its V6 engine is one of the most powerful in its class.

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

The truck also stands out for its unique Utili-Track system and plentiful interior storage bins.

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

The Nissan Frontier at Windsor Nissan in East Windsor, NJ

Towing ability is not bad for its size– properly equipped, the Nissan Frontier at Windsor Nissan in East Windsor, NJ is rated to tow up to 6,500 pounds.

Bob Maguire Chevrolet’s Tips to Achieve Better Gas Mileage

Tune Up:

A properly tuned engine can improve fuel economy about 4 percent, according to the U.S. Environmental Protection Agency.  

 

 

Pump Up:

Properly inflated tires improve gas mileage by up to 3.3 percent. Properly inflated tires are safer and last longer. Under-inflated tires can lower fuel economy by 0.3 percent for every one pound-per-square-inch drop in the pressure of all four tires.

 

 

Unpack:

Carrying unneeded cargo makes your vehicle work harder and use more gas. The EPA says an extra 100 pounds reduces fuel economy up to 2 percent – even more in smaller vehicles.

 

 

Slow Down:

While each vehicle reaches its optimal fuel economy at a different speed (or range of speeds), gas mileage usually decreases rapidly at speeds above 60 mph, according to the EPA. Every 5 mph over 60 mph is like adding an additional 24 cents per gallon for gas.

 

 

Avoid Idling:

A car gets 0 mpg when the engine is idling.

 

 

Chill Out:

Speeding, rapid acceleration and braking can lower gas mileage by 33 percent on the highway and 5 percent in city driving.

 

 

Put it in Overdrive:

Using an overdrive gear on the highway reduces engine speed, saving both fuel and engine wear.

 

 

Roll ‘Em Down Around Town:

Air conditioning reduces fuel efficiency by up to 10 percent. Avoid using the air conditioner by rolling down the windows at speeds below 40 mph. At speeds above 45 mph, wind drag uses more fuel than running the A/C.

 

 

Unclog:

Older cars without fuel injection and computer-controlled technology can lose 14 percent of their fuel economy because of a dirt-clogged air filter, which also can damage the engine. A clean air filter improves acceleration.

 

 

Use the Right Oil

: Because oil reduces engine friction and friction makes an engine work harder, using the manufacturer’s recommended grade of oil improves fuel economy by 1 percent to 2 percent.

 

 

Plan your Trips:

Taking your kids to soccer or swim classes? Grocery shopping? Plan logical routes and timing to avoid heavy periods of traffic congestion.

 

 

Cap Check:

A missing or poorly fitting gas cap can reduce fuel economy by 1 to 2 percent.

 

 

OnStar Diagnostics:

OnStar provides regular Diagnostics on a monthly and now on a remote immediate basis (with the OnStar App). You have an accurate reading of all of the technical information you need to take simple pre-cautions to reduce the fuel consumption of your car.

 

GM Keeps ‘Em Coming

GM has really made its mark this year,  in terms of awards, and it continues to do so as the days go by. One of the most impressive milestones for GM is that J.D. Power and Associates Initial Quality Study (IQS) recognized 10 GM models as top three vehicles in their segments for quality performance within the first 90 days of ownership. Some of those models are: Malibu, CTS, Suburban, Lucerne, and Yukon XL.

2010 GMC Yukon

2010 GMC Yukon

I am happy to announce that the Tahoe, Avalanche, Escalade and Sierra 1500 have each received quality awards as top vehicles in their class! Also, along with all of the awards going to GM vehicles, the Lansing Grand River assembly plant in Michigan won the Bronze Plant Award in North/South America region, as well as being recognized as the top-ranking plant in the US!

Lansing Grand River Plant

Lansing Grand River Plant

Kudos to GM for this amazing award year!

Allison Transmission

With the launch of the 2011 Silverado HD right around the corner, I felt it was appropriate to talk about the Allison Transmission that is going to be in it! There are so many great things to say about an Allison Transmission, that I do not know where to start…I will probably make this into a two part post about Allison..

Allison has been around since 1909 (so basically when the automotive industry began), and has stayed on top of the transmission manufacturing business for the past 95 years. Its headquarters is in Indianapolis, Indiana, where the company actually started off as a racing company and was one of the founders of the Indianapolis Motor Speedway! After a few years of being in the racing business, Allison moved on to manufacturing parts, masters and tools for the Liberty airplane engine. In 1928 Allison’s founder, Jim Allison, died and the company was taken over by General Motors.  With time, Allison grew to be a huge player in aviation, as well as motor vehicles – which we know it to be today.

The Allison Transmission that we know and love is a one of a kind machine built specifically for performance.  Be  on the look out for another post about the workings of the Allison Transmission tomorrow!!

2010 Chevrolet Equinox named Urban Truck of the Year

Today, In North American International Auto Show (NAIAS), the 2010 Chevrolet Equinox was named the Urban Truck of the Year by Wheels Media. The Chevy Equinox was selected as the best new truck for urban and suburban drivers by On Wheels Media and an independent panel of 15 automotive journalists.  “The Urban Vehicle of the Year resonates with the majority of new car buyers who live in urban and suburban areas, who drive on crowded road conditions. The vehicles chosen are cost and fuel efficient, and have the performance and safety characteristics that are relevant to the consumers in Metropolitan areas.” said the Media president of On Whells.

This time, Chevrolet will accept the award for Best Urban Truck of the Year at the 14th Annual Urban Wheel Awards, January 12, 2010, during the NAIAS. We feel very proud to be recognized us the Urban Truck of the Year says the Chevy General Manager Jim Campbell.  The vehicle based on the factors such as safety, fuel efficiency, performance and affordability. These are the main key reasons for the customers to choose the Chevy Equinox.

Chevrolet is one of America’s best-known and best-selling automotive brands, and one of the fastest-growing brands in the world. With fuel solutions that range from “gas-friendly to gas-free,”Chevrolet delivers expressive design, spirited performance and strives to provide the best value in every segment in which it competes.

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