When Is Buying A Car Better Than Leasing?

Leasing vs Buying Shopping around for a new vehicle can be a tricky proposition at times. With multitudes of ads, special offerings, interest rate deductions and safety stats on various vehicles, it can seem overwhelming.

One of the most debated topics on car buying is whether to lease or purchase.

A typical lease deal is one that lasts for 3 years with an allowance of 10,000-12,000 miles per year. This option requires much less money down, no long-term financial commitment and a guarantee of a new car after three years.

With owning a vehicle, you are financing the vehicle for the duration of 4-7 years with monthly payments. This option gives you the reassurance that you won’t have to shell out thousands of dollars in three years’ time, you will eventually be car debt-free, and you have the freedom to drive as many miles as you’d like.

However, there are times when purchasing a car is better suited over leasing.

Gaining equity in a vehicle happens when you put a portion of that car loan towards the initial down payment, and this results in an immediate positive equity. It’s also the same as lowering the overall amount of the loan. You have no equity when leasing, no matter what the terms are.

When you pay the loan off over a certain period of time, you will have full ownership of that vehicle, there is no negative equity involved. In owning your vehicle, you have the opportunity to trade-in for a newer vehicle or sell the vehicle outright and make some money.

With buying a vehicle, you have more power to negotiate. There is almost always room for price adjustment when buying a car. You don’t have that flexibility when leasing, the deal is usually just as you see it.

Whether you plan on buying or leasing your next vehicle, choose a reliable dealership that keeps your needs and wants a priority. With George Kell Motors, we can help you decide between buying and leasing with expert assistance.

 

What Does Your Vehicle Choice Say About Your Personality

Car Purchase

What you drive says a lot about you without you ever opening your mouth and talking to other people. Face it, people judge you by the vehicle you drive. They take into consideration its style, color, size and more in a quick, sometimes wrong, attempt to classify you as a certain type of person. Generally-speaking, certain kinds of vehicles appeal to certain kinds of people, and that’s a good thing. Some cars are meant for grandmas, just like some are meant for teenaged boys trying to impress girls in high school and college. Truck drivers like to haul stuff around and are the ones called upon to help friends move their beds and couches. You get the idea.

If you were to buy a Corvette, what would that say about you? First, it’d indicate you have some money to spend . Next, it would show you like to go fast. Finally, you care about style and looking cool– not a bad thing, by the way. If you own a muscle car, that’s like a Corvette on steroids. Muscle car owners typically love the mechanical aspects of cars and know what things like “torque” and “Hemi” mean.

These days, the “crossover,” aka “CUV” is a big seller. It’s not quite an SUV and not quite a station wagon or minivan. The CUV is a great grocery-getter as well as the kind of vehicle an older person who no longer has to cart around kids would drive.

Say the word minivan and what comes to mind? Kids! Minivans are for parents with little kids. ‘Nuff said.

“Hybrids” are vehicles that can run on gas or electricity. If you are an environmentalist, you’re likely to own a hybrid, such as the Prius.

What about full-sized trucks? They’re always popular, no matter what. Contractors love them, as do people who have jobs that involve hauling or towing stuff. Got a boat? Put a hitch on the truck and you can tow it.

Sports cars are typically small, stylish and fast. They’re made for people who love to drive. Since room is limited inside, sports cars usually only have one or two people in them and little to no room for groceries or other stuff.

Finally, there’s the SUV, which is basically the main type of vehicle you see on the road today. Why? Well, it’s high off the ground and a lot of people like to be up high while driving around town. Also, it’s got enough room for kids, adults, and stuff if needed, while still being “cool looking” enough that anyone could be proud to drive it to and from work and/or as their “everyday” practical-yet-cool vehicle.

3 Signs It’s Time For a New Vehicle

New Car

 

Are you one of those vehicle owners that strives to coax every last mile out of your vehicle? Certainly, it’s understandable that you want to maximize the value of your investment and drive your beloved car that you likely have an attachment to.

 

However, all good things come to an end, and eventually, your vehicle will provide you with clues that it’s time to invest in a new car, truck or SUV. Let’s take a look at three warning signs that signal it may time for a new car.

 

Random Lights Keep Flashing On Your Dashboard

 

Whether it’s a “service” light, a “check engine” light or some other light alerting you that your car needs a professional to look at it, these lights could signal your car is on its last legs, and that the cost to repair underlying issues simply may not be worth your time, energy and effort.

 

You Keep Turning the Radio Up to Avoid Hearing Noises From Your Vehicle

 

As your vehicle ages, it may start making funny noises that annoys you to no end, especially on long commutes. If you find yourself constantly turning up the volume to the music in your car just to avoid hearing the creaking sound coming from beneath your car’s hood or floorboards, then you may want to invest in a new vehicle so you can enjoy the tranquility of driving a car that runs like a well-oiled machine.

 

Friends and Relatives Keep Asking You the Same Question

 

Of course, that question is “when are you going to get a new car?” When you hear that question over and over again, it’s a sign that it’s time to upgrade.

 

And you know what? It’s likely you deserve that new vehicle. Life is too short to not enjoy the luxuries of life, so really enjoy that new car whenever you decide to purchase it.

 

 

Lemon or Cherry?

Purchasing a New Car

So you’re in the market for a used car, you’ve already narrowed down your selection to a couple vehicles and you’re ready to purchase. Before you buy though, how do you tell if this car is going to be a Lemon or a Cherry for you? Here are a few tips which could prove to be invaluable.

 

When I go to buy a car I look at it like I’m about to get into a long term relationship. I know, “sounds crazy” you might say but hear me out first.

 

Before getting into a relationship it’s always important to go on a couple dates first to make sure the chemistry is there. The same goes with a car. You need to go test drive the car before you buy it. What might look great in a picture or sound awesome in a vehicle review might wind up being the exact opposite for you. Until you get in the car, gripping the steering wheel and putting some miles on it you’re not going to know if it’s the right car.

 

When you get in make sure you check for blind spots, the seats feel comfortable for you, the car controls are easy to use, and check the cars trip computer. Many times the trip computer also calculates average gas mileage. This will give you a real world driving mileage rather than going off of the inflated window sticker numbers.

 

When I’m inside the vehicle I also like to check for excessive wear and tear. This is usually a good sign that the car was not well-maintained. If the previous owner couldn’t take care of where the site all the time, how would they properly care for what’s hidden under the hood?

 

I also like to do a visual inspection of the car. I know many people purchasing vehicles aren’t mechanics and may not be gearheads. However there are somethings to check for that you don’t have to be an expert about cars to notice.

 

I always check the door, hood, and trunk gaps on the car. This is the space in between the different body panels on the car. If they are uneven then it’s a good sign that the cars been in an accident. During this inspection process I also like to open up all the doors, hood, and trunk to check for any paint drips or imperfections. This could be another good indicator that the car was in an accident and the poorly repaired.

 

Finally, always ask to see the vehicle maintenance records. This is undoubtedly the best way to tell if a car is going to be a lemon or a cherry. If you can establish a regular maintenance schedule for the car then it’s obvious to tell the car was well cared for and the previous owners care about cars.

 

If you check off that all these items look good and that you feel comfortable and confidant behind the wheel, then go for it. Pull the trigger!

 

 

Tips For Improving Your Credit

Credit Application

 

One of the considerations when looking to purchase or lease a new or used automobile is how good your credit is. Your credit score can influence the interest rate, loan amount and repayment period you may qualify for, and keeping up on your credit and working to improve it is one of the main ways that you better position yourself to get into the car you have your eye on.

 

If you don’t know your credit scores, finding them out is a key first step. Knowing where you stand and finding out if you have any errors or problems on your report can help you plan your way to improving your score. By law, you can receive a free copy of your credit report from each of the three credit bureaus – Equifax, Experian and TransUnion every 12 months. The federal government offers this on its website, AnnualCreditReport.com.

 

Next, you’ll want to pay attention to your payment activities and history. Ensure that you continue to pay your balances or minimum payments on time and, if possible, work to pay down any outstanding debts. Credit bureaus factor both on-time payments and a debt-to-income ratio, so keeping your account current and reducing your debts will, in turn, improve your score.

 

Bankrate.com also recommends being aware of how applying for new credit can impact you. Every time you apply for new credit lines, like credit cards or personal loans, it leaves an inquiry on your credit report. This can lead to a small decline in your score for up to a year. However, with larger expense loans, like auto, mortgage and student loans, that often involve receiving multiple credit checks, lenders will ignore the repeat inquiries during a small window leading up to your loan. This window spans between two weeks and 45 days, depending on the lender’s scoring software, so try to do your loan shopping in a small window right before you intend to buy.

 

In addition, lenders also look at the length of your employment and how long you’ve lived at your current residence. They will also factor in your reported income versus your rent or mortgage obligations and other monthly payments to determine how much of a loan you can qualify for, further driving the point that doing all you can to minimize other outstanding debts will only serve to improve the likelihood of being approved for the vehicle you want.

 

 

Reasons to Choose a Truck When Shopping for a Vehicle

George Kell Motors of Newport, Arkansas, sells trucks—lots of them. Why are trucks popular? There are so many reasons.

 

If you’re a tall person, over 6’, little cars can be very uncomfortable—you’re squished in. However, trucks typically have the right amount of space for tall people to sit comfortably.

 

Trucks allow the driver to sit up high above the road. The advantage is that drivers can see over cars and know what’s up ahead—better sight-lines. Cars that are low to the ground have no idea how long the traffic jam ahead is, but people in trucks usually do.

 

Do you haul stuff around, like wood, sheetrock, tile, bricks, tools, or boxes of stuff? A truck’s bed is great for hauling all sorts of stuff around town, from chests of drawers to fishing poles. You can cover your truck bed to keep the rain out, or leave it open which allows for transporting tall items that otherwise wouldn’t fit in a car.

 

Want to go off-road, muddin’ and such? Trucks are bigger, stronger and made for tougher road conditions than, say, a Prius. Whether you’re in the mountains, on dirt roads, or in a typical town, trucks are versatile with where they can go.

 

Boaters love trucks. Why? Because trucks are strong enough to properly trailer boats. Want to take your fishing boat to the river or lake? Trucks are good for that. Speaking of trailers, trucks are also the vehicle of choice for taking campers to and from campsites.

 

Today’s trucks have better amenities than ones from the old days. With air conditioning, kickin’ audio systems, and more comfortable seats, today’s trucks are enjoyable to drive.

 

George Kell Motors has a good selection of new and pre-owned Chevy Silverados and GMC Sierras—great trucks for life in Arkansas and the surrounding states. Consider buying a truck for your vehicle needs.

 

 

How to Keep Your Car in Great Condition

Tips on Cars

 

Keeping a car in great condition is kind of like keeping your own body in great condition. You don’t have to exercise a car, feed it food, or dress it in attractive clothing, but you do have to “take care of it.” A car is a reflection of the owner. Ideally, you want it to sound, smell, look and feel good daily.

 

Preventative maintenance is the key to keeping a car in great condition. Get little problems taken care of long before they become costly big problems. That means having the oil (and oil filter) changed regularly– typically every 3 months or 3,000 miles. Get the tires rotated, the wheels balanced, and pay for an alignment every so often. Have a mechanic check and top off fluids. It doesn’t hurt to have the vehicle professionally inspected on a yearly basis– much like people should go to the doctor for yearly check-ups, vehicles need check-ups, too.

 

The average person doesn’t look underneath their car, let alone open up the hood and know/check all the engine parts to see if everything’s fine. However, the average person may hear a weird noise coming from their wheels, brakes, or engine. They may smell an odd odor that could indicate there’s something wrong with the radiator, oil system or engine. Again, it’s a smart idea to take the vehicle to a professional mechanic and have them check/repair the car to take care of problems before they get out of hand.

 

Practical things you can do to maintain a great looking car include getting it washed and cleaned often (at car washes or with a hose and soap in your driveway), avoiding eating/smoking in the car’s interior so it won’t stink (and you won’t find old bits of food rotting under the seats months after you dropped them), and keeping it in a garage or under a carport roof when not in use.

 

By the way, if you’re looking for a new or used Chevrolet, Buick or GMC vehicle, check out George Kell Motors in Newport, Arkansas. You’ll find clean, fresh, attractive cars and trucks for sale at George Kell Motors.