SHOULD I LEASE OR FINANCE MY NEXT VEHICLE?
By Sales Consultant Kristian Davisson - www.kristiandavisson.com
There are many myths circulating these days about purchasing a vehicle, so let's take a look at the reality of how these two options actually work.
1) Who is it for? - Leasing a vehicle is for drivers that primarily drive short distances, are staunch believers in vehicle maintenance, and those that prefer a new vehicle every two or three years. It is not recommended for people who wish to customize their vehicle with aftermarket parts.
2) How long can I lease? - A lease term can range from two to five years with varying interest rates.
3) What happens when my lease term has ended? - You can choose to keep the vehicle by buying out the remaining cost, trade in for a newer vehicle, or simply return the vehicle and walk away.
4) What are my kilometer restrictions? - An average kilometer plan for The Pas and surrounding area is 25000km/year, but you can choose different plans tailored to your driving habits.
5) What is my warranty? - Warranty on leased vehicles is the same as if you were financing. Ford warranty is 3 years/60000km factory, 5 years/100000km powertrain, 5 years/100000km roadside assistance. You can also tailor additional warranty to suit your needs.
1) Who is it for? - Financing is for drivers that intend to own their vehicle outright after payments are complete and prefer to modify their vehicle as they see fit. It is also great for drivers that drive extended distances and who prefer to keep their vehicle for an extended period of time.
2) How long can I finance? - A finance term can range from three to seven years with varying interest rates.
3) What happens when my finance term has ended? - Once all your payments are complete you own the vehicle.
4) What are my kilometer restrictions? - There are none. Drive it as far as you wish, however you wish.
5) What is my warranty? - Ford warranty is 3 years/60000km factory, 5 years 100000km powertrain, and 5 years 100000km roadside assistance. Additional warranty beyond factory warranty is available, and can be tailored to your driving habits.
Following these tips can help you decide what's perfect for you. If you'd like to explore these options in more detail, book an appointment today with Kristian, Jordan, Norm, or Kevin at 1-204-623-4350 in The Pas or Nikki, Doug, Curtis & Tim at 1-204-687-3940 in Flin Flon or simply email firstname.lastname@example.org
6 WAYS TO INCREASE YOUR TRADE VALUE
By Sales Consultant Jordan Krost
One of the areas that is often a sore spot when buying a new vehicle is the trade-in value that is offered by the dealership. Let’s be honest, there’s always a difference over what the dealership will give you and what you know it’s worth. What the sales manager calls dents & scratches, you call memories and ‘love-taps’. Here’s a few tips compiled from several veteran salespeople on how to get the most from your trade-in..
- Bring it in CLEAN – They say Cleanliness is next to godliness and keeping your trade in clean shape (inside & out) can often fetch a few hundred dollars more. The reasoning behind this is most appraisers don’t spend too much time in the vehicle to get a good sense of how it’s been maintained. They can go over service records and check under the hood, but for the most part, they go by what they see. If your vehicle is clean and looks well maintained on the inside & outside, the appraiser is likely to believe you’re the type who takes great care of their vehicle and will give you the benefit of the doubt that the rest of it is in as good condition.
- No Dash lights – Make sure that when you bring your vehicle in for trade, there isn’t an indicator that something isn’t working properly. An engine light, airbag light or other light could set off alarms in the appraiser’s mind and they’ll be sure to err on the side of caution in case your vehicle needs major repairs. This could even be a difference of a few thousand dollars!
- Keep the KMs down – This is often easier said than done –especially if you live up here in the Great White North. When you have to travel so far to get anywhere in Northern Manitoba, it can be difficult to keep the kilometers low. If trade-in value is important to you, try carpooling more often rather than adding all the kms on your vehicle. For optimal trade value, you should be putting on between 20-25,000 kilometers per year and anything over that can cost you up to $0.16/kilometer depending on the type of vehicle
- Keep “wear & tear” items maintained – Tires and brakes are parts of a vehicle that naturally wear over time. It can be up to a +$2000 difference in trade value if you have newer brakes and tires. A good way to do this is have a winter set and summer set of tires, which will cut down on wear & tear on both sets. Your brakes should be serviced every 80-100,000 kilometers, depending on driving habits.
- Cover up dents, dings and scratches – Over the life of your vehicle, it’s inevitable that you’ll get some minor body damage. Dents from road rash, dings from parking lots and scratches to the paint are all things that happen every single day. The best thing to do is to keep them to a minimum. Often times, Northland Ford’s body shop is willing to help you fix minor issues as they come up (call Trish @ 204-623-4350). It’s best to get them fixed right away, because if a dent is deep enough, it can cause an opening for rust to start forming on your body and body rust is one of the killers that will hurt your trade value the most.
- Get your vehicle serviced regularly – This is an absolutely critical component to making sure your vehicle is worth as much as possible when you trade it in. They recommend that vehicles get serviced either every 6 months or 8,000 KMs whichever comes first. If you own a Ford, bring it to a certified Ford service bay like Northland Ford to get your maintenance done. This ensures that your records will be kept and anybody can see how well you’ve taken care of your vehicle. Not getting your service done when it’s required can lead to many, many problems and if the service department can’t see that you’ve had your oil changes done, it can cause your warranty to become void. Many engine issues are completely preventable by getting regularly scheduled maintenance. Also, if it can be proven that your vehicle was maintained properly, you can expect full value for your trade.