It’s the classic dilemma that faces every car buyer out there: Pay cash up front or forego the ownership and pay monthly settlements instead Buy or lease a new car this is the question.

As is the case with every other common dilemma, there is no easy answer. Each option has its own benefits and drawbacks, and it all depends on your financial and personal situation.

Firstly, your finances. Affordability is clearly the key, and you need to ask the question of how stable is your job and how healthy is your general financial situation. The short-term monthly-cost of leasing is significantly lower than the monthly payments when buying: you only pay for “the portion” of the vehicle’s cost that you use up during the time you drive it.

If you have a lot of cash up front, then you can opt to pay the down payment, sales taxes – in cash or rolled into a loan – and the interest rate determined by your bank or loan company. Buying effectively gives you ownership of the car and that feeling of “free driving” that goes on providing transportation.

If, say, you want to get into luxury models but can’t afford the upfront cash of purchasing the vehicle than you’re a good candidate for leasing. Unlike buying, it gives you the option of not having to fork out the down payment upfront, leaving you to pay a lower money factor that is generally similar to the interest rate on a financing loan. However, these benefits have a price: terminating a lease early or defaulting on your monthly lease payments will result in stiff penalties and can ruin your credit rating. You need to make sure you can afford the monthly lease payment in your budget for the foreseeable future, at least for the duration of the lease.

Besides the financial aspect, making a buy or lease decision depends on your own particular lifestyle choices and preferences. Think about what the car means to you: are you the sort of person to bond with the car or would you rather have the excitement of something new. If you want to drive a car for more than fives years, negotiate carefully and buy the car you like. If, on the other hand, you don’t like the idea of ownership and prefer to drive a new car every two to three years then you should lease. Next, factor your transportation needs: How many miles do you drive a year.

How properly do you maintain your cars? If you answer is: “I drive 40,000 miles a year and I don’t really care much about my cars as I don’t mind dealing with repair bills”, then you’re probably better off buying. Leasing is based on the assumption of limited-mileage, usually no more than 12,000 to 15,000 miles a year, and wear-and-tear considerations. Unless you can keep within the prescribed mileage limits and keep the car in a good condition at the end of your lease, you might incur hefty end-of-lease costs.

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One of the popular questions asked related to tax is “Can I deduct rental car costs on my income tax?”. Many countries impose massive taxes on rental cars. Rental car companies are becoming more infuriated with the increasing taxes imposed on their clients.

Unfortunately, it is not easy to avoid these taxes, according to the Coalition Against Discriminatory Car Rental Excise Taxes. In 43 of the United States of America, there are a total of 114 different local and state excise taxes for leasing and or renting cars. In the 1990s, there were only fourteen such taxes. The CADCRET was formed in order to track and fight the proliferation of taxes.

Residents of Maine blocked a new state tax-reform law that proposed a 10-12,5% increase in car rentals. The petition managed to put the increase on hold for a while at least. This is a great relief for business travelers in particular as well as rental car companies and corporate travel departments.

Some cities charge as much as 20% in car rental taxes and cost Fortune 100 companies upwards of $5 million per year.

Taxes are imposed in order for cities to close gaps within their budgets. This has not made the car hire companies excited at all. They do not want to be associated with tax collection and they have to charge higher prices to accommodate the taxes. Subconsciously clients blame the care and truck rental companies for this. 36 months ago 8 rental brands and the National Business Travel Association formed a group to lobby against the taxes. They also took it upon themselves to provide education for consumers.

In New Jersey there is tax reform passed that permits municipalities to impose 5 % excise tax when people rent cars. As it is car renters already pay a whopping $5 daily in the form of sales tax and state tax.

Don’t rent a car in Wisconsin as you will be expected to pay $18 every time you rent a vehicle. The money from this tax is supposedly used to assist in the funding of a mass- transit project. This would translate to a tax increase of in excess of seventy percent in Milwaukee, Kenosha and Racine.

The lobbyist group also reports that in Michigan there is pending legislation that will, if passed increase taxes by a further $2.50 per transaction.

In order to find funding for rail projects in Florida. The people responsible for the law are fighting to increase the taxes by a further $2.00. This would mean the tax increases by 50!

The general consensus of these people who make the laws is that this tax is necessary and understandable. These sentiments receive fierce opposition for the coalition.

The recession has hit the states in America in a big way and the deficits in state coffers is horrendous to say the least.

It appears there is misappropriation of funds as when a project is complete then the money is used elsewhere. This explains some of the reasons that car renters are asking, “can I deduct car rental costs on my income tax?

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Most car insurance policies have certain aspects of it that you will have to pay for if you have an accident or if your car gets vandalized. This part of the policy is commonly referred to a waiver of excess in many countries such as the UK. In the United States the waiver of excess is more commonly referred to as a deductible. If you’re in the UK and decide to rent a car then you’ll encounter a waiver of excess.

When the amount of the waiver of excess is exceeded in damages then you pay the amount of the waiver of excess and the insurance company covers what’s left over. So if you have a waiver of excess of $1,000 and an accident causes $5,000 in damages to your vehicle then you will have to pay the $1,000 up front and the insurance company will cover the other $4,000. While a waiver of excess is not included in the premium of the insurance policy you pay it is still very helpful.

In some accidents the damage is very little and you may not want to report it. In other cases the person who’s at fault may have their insurance cover the damage to your car. In either case you may want to avoid paying the excess waiver and higher premium costs from having an accident. If you’re a young driver then you will want to consider this heavily as your insurance premium is likely to skyrocket even with a minor fender bender.

A waiver of excess can and will vary from plan to plan. If you choose for your policy to have a larger waiver of excess then your monthly payments will be lower as the insurance company will have to cover less in the event of an accident. Over time the increase that you would have had to pay will save you a good amount of money. This is true as long as you don’t get into an accident and have to pay the waiver at a time that is bad for you.

You may see a waiver of excess expressed as a percent from time to time. A percent can be beneficial or harmful to you. The lower the total cost of repairs is the better it will be for you however if the damage is high then you’ll have to pay more then you may have originally thought.

A waiver of excess is usually used to pay off damage that has occurred to your car due to an accident, theft, or harsh weather. Liability only will never have a waiver of excess since it only covers damages done to other vehicles. It’s possible to have better coverage for your waiver of access as well as a lower amount that you have to pay. However this will also increase the cost of your monthly payments.

You might have been led to believe that the waiver of excess is only for auto insurance. However there are many types of insurance that have a waiver of excess on them. Some other types of insurance that you’re likely to see a waiver of excess is health, travel, and home insurance. If you do rent a car in the UK it’s important that you understand that your credit card can and may be charged for damage before it’s reimbursed by the insurance company.

Graham McKenzie is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car and vechile portal.

The cheapest and quickest way to look for used cars for sale by owner is via the Internet. One, you need not leave your house or visit one car lot after another. This saves you cash that you would otherwise have payed out for transportation. Two, you get to select among a number of used cars. There are many websites that provide used cars for sale by owners, and these websites also provide photos of the cars with some details about the car.

Another way to look for used cars is via the Golden Pages. The directory will give you a list of companies that provide used cards, and you can easily call them up and make an appointment to see the used cars that they have up for sale.

The third way is to visit car auctions, and this is also considered a good way because you get to see the car firsthand and speak with the sellers about the details of the car in some cases.

Lastly, you can also buy used vehicles from people you know, like your relatives and friends. This way, you already got some idea about the used vehicle and also have some idea of the car’s good and bad points.

Tips on Purchasing Used Cars for Sale by Owner

Prior to making a purchase though, here are some important tips that you should know.

Always take a car mechanic with you when you visit the car lots. They understand what is and what is not a good car, and they can advice you on whether or not you should buy the car. He will check the car, especially if you know nothing about cars, and the mechanic will be the best help that you can get when buying used cars.

If you are going to buy used cars for sale by owner over the Internet, it is also recommended that you read up on testimonials and testimonials made by clients who have purchased their cars on that website. This way, you get to steer clear of scammers and cheats.

Try to make the best possible judgment you can remembering the advise I gave you.

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By and large, when young people have completed their schooling, they start looking for work. At the time they get a trade, and they could do with a form of transportation. Because so many people hate public transport, they will start thinking about buying a car. But without having any money in the bank, there is generally not a large amount of savings ready to be used for buying a car. In this case, it’s a good idea to start looking for a used, cheap car.

Used cars will habitually cost less money than a new one. If only you know what to look for, you’ll be able to purchase a good car.

Just because a car has been used for many years doesn’t always mean that its knackered. If a car has been well maintained, it will probably go on for a very long time. The method is that you have to be trained to spot which vehicle is high-quality and which car is poor quality. This is true if you are thinking of buying a car directly from a car owner. In the situation where you come to the decision to check out a used vehicle dealership, the probability of you buying a badly maintained vehicle are immediately lower. Part of the car dealer’s job is to ensure he sells old, used cars that his customers are happy with. When looking around for used cheap cars, there exist a lot of choices.

After you decide you are going to buy a cheap old car straight from a vehicle owner, then it is particularly important that you have been taught what to look for. I advise that you have a test drive in the car and that you pay attention to its l presentation. When you start the car, does the engine fire up without problems? How about the steering wheel, the gear box and the brake pedals? Do they give a good deal of struggle when you are operating them? If so, then you might think of looking for a car somewhere else. How about the acceleration? A regularly repaired old car should still be capable of getting going quite fast.

If something about the car makes you think that it’s not right, then chances are you will need to have it repaired in a little while. This means you should demand a better deal. A car owner will almost always ask an amount that is much more than what he really is expecting to get for his car. So trying to bargain for lower prices is almost always a good idea, even if the car is of high quality.

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