LEASING MYTHS

Debunking the myths about leasing

High mileage drivers

Some people think that high mileage drivers should not lease, but that's a false assumption. 

High mileage drivers make the most auto-leasing sense!  The number one way to depreciate the value of a vehicle is to drive high miles. That vehicle then becomes the most difficult vehicle to resell.  Many leases are customizable and can be written for more than 15,000 miles a year.  Whether you pay for your miles upfront or at lease end, when you turn in the vehicle you don't have to worry about trading in or reselling a high-mileage car. 

1953 CORVETTE

 

1953 WAS THE FIRST YEAR FOR THE CORVETTE

The Corvett was originally designed as a show car for the

1953 Motorama display at the New York Auto Show. It

generated enough interest to induce GM to make a

production version to sell to the public.

That year it was available in one color, Polo White.



Quadricycle by Henry Ford

 

Henry Ford and his first car
the Quadricycle, which he
built in 1896

FOR MUSTANG LOVERS & CAR ENTHUSIASTS

2003 FORD MUSTANG SVT COBRA

 

Check out this beauty on our website:  www.nwfl.com

 

                                       Mileage:  66,063

                                       Engine:  8 Cyl SOHC 4.6L

                                       Trans:  6-Speed Manual

                                       Exterior Color:  Silver Clearcoat Metallic

                                       Interior Color:   Dark Charcoal

 

                                        Call me if you are interested

                                              Pho# 425-251-6000

APPRAISING A USED VEHICLE

It's common that most of us have a tendency to over value our vehicle(s).  We all like to think that our assets have a great value.  However vehicles may depreciate in value quicker than we think.  Used vehicle values are obviously based on condition.  The following information may be helpful in understanding a used vehicles condition and hence, the value.

 

There are a number of cosmetic, mechanical and maintenance factors that go into determining the condition of a used vehicle.  Following below are the major factors or condition categories as defined by the National Automobile Dealers Association (NADA).

 

Clean - The vehicle has no mechanical defects and passes all necessary inspections with ease.  Paint, body, and wheels may have minor surface scratching with a high gloss finish.  Interior reflects minimal soiling and wear, with all equipment in complete working order.  The vehicle will need minimal reconditioning to be made ready for resale and the vehicle has a clean title history.

 

Average - The vehicle is mechanically sound but may require some repairs or servicing to pass all necessary inspections.  Paint, body and wheel surfaces have moderate imperfections and an average finish which can be improved with restorative repair.  The interior reflects some soiling and wear in relation to vehicle age with all equipment operable or requiring minimal effort to make operable.  The vehicle will need a fair degree of reconditioning to be made ready for resale and has a clean title history.

 

Rough - Significant mechanical defects requiring repairs in order to restore to reasonable running condition.  Paint, body and wheel surfaces have considerable damage to their finish which may include dull, faded or oxidized paint.  There may be small to medium sized dents, frame damage, rust or obvious signs of previous repairs.  Interior reflects above average wear with inoperable equipment, damaged or missing trim and heavily soiled or permanent imperfections on the headliner, carpet and upholstery.  The vehicle will need substantial reconditioning and repair to be made ready for resale.  Some existing damage may be difficult to restore.  The vehicle may have a branded title.

 

Appraising a cars value is not an exact science.  Many of the things mentioned above are subjective.  However, an experienced appraiser will generally come up with a value with a reasonable degree of accuracy.

 

You can get your vehicle book value by going to www.nadaguides.com

 

Model Year Indicator - The tenth position (digit) in the Vehicle Identification Number (VIN) is a code indicating the model year.  This chart gives the code for the model year.

MINICAR SAFETY

Smaller cars carry a bigger risk in a common and deadly type of crash.  The Insurance Institute for Highway Safety (IIHS) ran front end crash tests on 11 small & mini cars.  The cars hit a barrier with the front driver’s side corner at 40 MPH.  This simulated clipping another car head-on or hitting a tree or pole. None of the vehicles tested received the highest rating of “good.”  Only the Chevrolet Spark received a passing grade of “Acceptable.”  The worst performer was the Honda FIT which received a rating of “poor.”   Besides the Fit, here are other cars that were also rated “poor” (from lowest to highest score): Fiat 500, Hyundai Accent, Toyota Prius C, Nissan Versa and Mitsubishi Mirage.   Some cars received a “marginal” rating and they are as follows:  Ford Fiesta, Toyota Yaris, Kia Rio and Mazda 2. 

 

 

Chevy Spark was the only tiny car to get an

acceptable rating in the new IIHS crash tests.

 

Although the Spark received the rating of “Acceptable” it does not protect occupants as well as larger, heavier vehicles with the same rating, IIHS said.  Minicars can weigh more than 1,500 pounds less than the average model made for the 2013 model year, preliminary federal data show.

 Small, lightweight vehicles have an inherent safety disadvantage, “Joe Nolan, IIHS senior president for vehicle research, said in a statement.  “Unfortunately, as a group, minicars aren't performing as well as other vehicle categories in the small overlap crash.

FIRST SUPER BOWL

 

The first Super Bowl was played on January 15th, 1967 at the Los Angeles Memorial Coliseum in L.A. California.  The National Football League (NFL) champion Green Bay Packers defeated the American Football League (AFL) champion Kansas City Chiefs by the score of 35 - 10.

Bart Starr was the Green Bay quarterback and he was named the MVP of that game.

 

 

The first Super Bowl was not called the Super Bowl. It was referred to as the "AFL-NFL World Championship Game." The term Super Bowl was not used until 1969.