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Ask the ExpertNew-Car Extras You May (or May Not) Need
Buying a car is exciting, but it’s also confusing and stressful. You might think that the confusion and stress would end once you find the car you want and settle on a price. Even after you’ve gotten that far, however, the process can be nerve-wracking because once you’ve negotiated a price, a dealer [...]
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Ask the ExpertAre You a Repossession Risk?
Repossessions are on the rise
In the third quarter of 2009, the national 60-day auto delinquency rate (defined by TransUnion.com as the ratio of auto loan borrowers 60 or more days past due) edged up to 0.81 percent, from .80 for the same quarter in 2008. TransUnion calculates the delinquency rate based on the approximately 27 [...] -
Ask the ExpertShould I Buy or Lease?
THE SHORT ANSWER
LEASE IF:Lower monthly payments are a priority and you don’t care about building ownership equity in a vehicle.
You enjoy driving new cars that have the latest safety features and are always under warranty.
Your life situation is fairly stable and predictable over the next few years.
You drive around 15,000 miles annually and properly maintain [...] -
Ask the ExpertDo I need gap protection?
Other than a home, a new car may be the biggest purchase you’ll ever make; and other than your house payment or rent, your car loan is likely to be your largest monthly expense. That said, when it comes to serious damage or loss, standard auto insurance policies sometimes do not provide all the [...]