Buy Or Lease Your Next Automobile?
Leasing a luxury car imposes lower costs, generally comparable to the interest rate of financing a loan. However, if you terminate a lease early or default on a monthly lease payment, you can face major financial penalties and ruin your credit rating. The decision of whether to buy or lease a vehicle also depends on your unique lifestyle. If you drive many miles each year and don’t mind paying repair bills, you probably should purchase your car. If, on the other hand, you exceed the mileage limitation or if the car shows considerable wear and tear at the end of the lease, you may find yourself paying large end-of-lease costs.
When you are thinking about getting a new car, one question always comes up: is it better to buy or lease? There is, of course, no one single answer. Each choice has benefits and disadvantages, so the choice depends on your own particular personal and financial circumstances.
A key issue is affordability. Is your job situation stable? Are you in overall good financial shape? The short-term monthly expense associated with leasing a car is much lower than the monthly payments required when purchasing a vehicle. With leasing, you pay only for the part of the vehicle’s cost used during the period of time you drive it. If you have the cash on hand, and you can pay the down payment and sales taxes ? either in cash or via a loan ? as well as the interest rate buying a car gives you that feeling of ownership and may be the best financial option.
If you want to get your hands on a luxury car, but you can’t afford the initial costs associated with buying one, leasing is your best option. Leasing a luxury car imposes lower costs, generally comparable to the interest rate of financing a loan. However, if you terminate a lease early or default on a monthly lease payment, you could face major financial penalties and this could ruin your credit rating. Before you decide to lease, make sure you adjust your budget for the monthly lease payment for the duration of the contract.
The decision of whether to buy or lease a vehicle also depends on your unique lifestyle. What does it mean to you to own a car? Do you bond with your car, or do you like having something new? If you plan to drive a vehicle for more than five years, buying it ? through careful negotiations ? is probably your best bet. On the other hand, if you would rather drive a new car every two or three years, leasing is for you.
You should also consider your actual transportation needs. Think about how many miles per year you drive and how you handle car maintenance. If you drive many miles each year and don’t mind paying repair bills, you probably should purchase your car. With leasing, contracts are made with assumptions of limited mileage, typically between 12,000 to 15,000 miles driven per year, as well as considerations of wear-and-tear on the vehicle. If you can stay within the stated mileage limits and keep the automobile in good condition throughout the duration of your lease, leasing is a reasonable option. However, if you exceed the mileage limitation or if the car shows considerable wear and tear at the end of the lease, you may find yourself paying large end-of-lease costs.
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How To Find The Best Rates On Automobile Insurance In Tennessee
You can find the best rates on automobile insurance in Tennessee by purchasing a vehicle that car insurance companies view as safe. Tennessee auto insurers are more likely to offer low rate car insurance to drivers who own safe vehicles because they view those drivers as less risky. So, in order to get a cheap quote on car insurance in Tennessee, you need to make yourself ? and your vehicle ? safer!
If you haven’t yet purchased a new car (even if it will technically be a used vehicle but new to you), keep in mind that auto insurance companies look at:
?Theft likelihood
?Car price
?Repairs cost
?Car safety record
You’re more likely to get a cheap quote on car insurance in Tennessee if you purchase an inexpensive, modest vehicle with a great safety rating than a flashy, pricey foreign number that’ll cost an entire paycheck to repair. And think about it: would a car thief be more likely to steal a family sedan or a two-seater convertible?
However, even if you already own a vehicle (and aren’t willing to purchase a new one just to save on coverage!), you can still get some of the best rates on automobile insurance in Tennessee. You’ll just need to take a few extra steps:
?Install safety features (anti-theft devices, car alarms)
?Store your car in a safe place (well-lit or gated parking lot, garage)
?Install child safety features (LATCH, rear lap belts with shoulder straps)
And the changes don’t stop with your automobile. There are also steps you can take aside from modifying the safety of your vehicle to get a cheap quote on car insurance in Tennessee:
?Improve your credit score
?Repair your driving record
?Take a driver education course
?Sign up for a mature driver course (if you’re a senior)
Contact your Tennessee auto insurer once you’ve made these changes.
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The Ford Edsel : An Auto Industry Disaster In Car Design And Automobile Marketing
To call a car or any product an “Edsel” is to provide the worst of insults. The Edsel was a car designed and manufactured by the Ford Motor Company of Dearborn ? in the late 1950′s. 157, 1958, 1959 to be exact. The debacle of the Edsel was both one of the most spectacular and worst failures to befall the vibrant American automobile industry of that day. To call a car or any product an “Edsel” is to provide the worst of insults.
Some authorities will state that the reason for the Edsel’s failure was just poor market timing, not a poor product. Timing can be said to be most everything ? vital for the success of failure of any product. In those days, before computerization allowed for rapid sharing an interchanges of design and the car design process ? everything was done on paper. It took great amount of physical logistics and delays for the paperwork and blueprints to be sent and coordinated among the various players in the automobile design process. On top of that it seemed that “everyone “seemed to despise and those further down the line. The designers disliked their bosses and the engineers. The engineers hated the parts people etc etc etc. On top of that the name “Ford “was on the door signifying the ultimate authority in the car designs and marketing process. The Edsel project was initiated during a time of big cars ? from G.M. the market leader , yet introduced many years later when the concept of a second car , a compact car, for the wife to drive the family and kids around was beginning to be established in the automobile marketplace
Other authorities will state that the reason for the poor market showing and demise of the Edsel was that it was just a poor product ? poorly designed and poorly built. To further corroborate this viewpoint it is now known that the actual workers building the Edsels were none too happy building this model. The Edsel was not built on its dedicated Ford Division production line but rather the Edsel was built (or shared space) on Ford Mercury Division production line. These Mercury Division employees considered themselves as the luxury end of the Ford Car company entities and indeed saw themselves as a cut above the run of the mill Ford employee and workers.
They both resented the intrusion into their turf as they say it and as well felt that a Ford product was muscling into their terrain ? that of more prestige vehicles. In the end the marketing and sales failures of the Ford Edsel can be said to be a combination of both factors.
Interestingly enough the unspoken order from the Ford family was that the new product ? the “1958 Edsel” was to be named anything but Edsel. The late Edsel Ford was the founder Henry Ford’s only son and the grandfather of the then current patriarchs commanding and directing the Ford Empire. The senior Ford even stated that he did not want to see his late grandfather’s name spinning around on hubcaps. The design development process had worked with the “E” or “Experimental” Car. Since it was such a major and revolutionary product of Ford many assumed that the designation “E” car had of course stood for Edsel. How better to honor such a major figure in the Ford family and empire. Imagine if the name had not stuck. Would it of made a difference in the ultimate success or failure of the sales and marketing of this automobile product.
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