至尊英语阅读资料之汽车专题第34集.pdfVIP

Automotive articles 34 [826]Auto Financing, Leasing and Insurance Car Financing Securing financing before you go to the lots allows you to have the bargaining power of pre- approved finance when searching for your vehicle. Remember that the longer you borrow the money, the more it will cost you. Try not to borrow too much and make sure you dont borrow an unreasonable amount that you cant pay back. Try to pay as much as you can up front - in cash or as a trade-in - and pay less interest. Several ways to get financing is via the internet (see resources), your local bank or credit union. * How low is the interest rate? * What are the annual fees? * Can you make extra repayments without being penalized. * Are you covered with the payments if you get sick or injured? * Do you have a good credit rating? Thoroughly investigate your loan and always make sure you look at the total cost of the loan as a higher interest rate can sometimes be better than a loan with a low rate but with a lot of hidden fees! Leasing Leasing enables you to lease a more expensive car than you could afford to purchase. The lessor (usually a bank or leasing company) buys the vehicle from the dealer or manufacturer and then leases it to you. You, in turn, pay the lessor for the right to drive the vehicle during the term of your lease. When you buy a car you pay for the entire price of the car. When you lease, you pay for the depreciation, acquisition fees, negative equity on a trade-in and after-market products (such as extended warranties) over the lease term. A vehicle with a 20,000 price tag can be leased for three years with nothing down and a monthly payment of $385.00 or bought over the same period for $2,500 down and a monthly payment of $595. Sounds like a good deal but we got to remember the buyer owns the car and can claim the equity in it. Car Insurance There are several ways to get insurance: by phone, the internet or you can go to a insurance agent.