Car purchase Chicago IL

Local Companies

Lexington Realty Trust
(312) 386-8111
101 East Erie Street, Suite 950
Chicago, IL

Chicago Residential Real Estat
312.268.8000
1950 N. Sedgwick
Chicago, IL

Elan Leasing and Sales
773-698-8383
3526 N Lincoln Ave
Chicago, IL

RE/MAX Signature North
(847) 863-5295
5135 N Ravenswood
Chicago, IL

Rent Smart Chicago
(773) 275-2700
5650 N Broadway
Chicago, IL

Photography by Heather Gregory
312-753-8317
6910 N Lakewood
Chicago, IL

Able Removal Service
847-338-0588
6749 Dempster #108
Morton Grove, IL

RE/MAX Market
708-254-5815
8728 S. Archer Ave
Willow Springs, IL

Montalbano Homes
888-262-1453
1801 St Meyers Rd
Oak Brook, IL

Rice Property Management & Realty, LLC
708-862RICE(7423)
16262 Prince Drive
South Holland, IL

No one wants to drive away in a dream car only to find that he's heading down a financial road with unwanted sacrifices waiting around every curve. More than one consumer has bought an expensive automobile or truck and then found to his dismay that he couldn't afford to put gas in its tank. The prudent consumer can avoid this pothole by reading and understanding the fine print of automobile purchases, and weighing the benefits and drawbacks of both purchasing and leasing a vehicle. Here are some issues for you to consider:

Do you have the money for the down payment that's required by a purchase? If so, you might want to buy.

Do you generally prefer lower monthly payments? If so, you might want to lease.

Do you like the idea of owning something of value after making payments for years? If so, you might want to buy.

Do you like driving a new vehicle - particularly a luxury model - every two or three years? If so, you might want to lease.

Do you want to trade in an old vehicle? If so, you might want to buy.

Do you hate the hassle of selling your old car every time you want to buy a new one? If so, you might want to lease.

Do you like the idea of carefully maintaining your car, so that it runs perfectly for years and years? If so, you might want to buy.

Do you put "hard" miles on your vehicle? If so, you might want to lease.

Do you eventually want to be free of car payments? If so, you might want to buy.

Do you like the idea of driving a vehicle for a few years before purchasing it? If so, you might want to lease.

Do you drive tens of thousands of miles each year? If so, you might want to buy instead of paying a relatively
large amount of money at the lease's end for exceeding the annual mileage cap, which is generally 12,000 to 15,000 miles.
If you decide to lease, you need to learn exactly what you're paying for in terms of interest rate (it should be close to the current automobile loan rate). You should negotiate the capitalized cost (the price the financial institution pays the dealer for the leased vehicle), the acquisition fee (which the consumer is charged for initiating the lease) and the disposition fee (which the consumer is charged at lease's end if he decides not to buy the vehicle.). Because of all of these factors, professionals advise that low monthly payments don't necessarily translate into a beneficial transaction for the consumer.

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

For more information, go to www.consumerinfo.com.

Featured Local Company

Lexington Realty Trust

3123868111
101 East Erie Street, Suite 950
Chicago, IL

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