What Causes the ‘New Car Smell?'

Car shopping is an involved process, with various financial and logistical considerations that need to be taken into account. While many can find the experience stressful, you can give yourself significant peace of mind once you settle on the right model, such as the new 2021 Buick Envision. One component, of course, is whether or not you will own your vehicle. No matter which vehicle you settle on, you will have two options; leasing or buying the vehicle of your dreams. Which option you go with will depend on multiple factors, ranging from personal finances to your own preferences. With all things considered, there may be certain circumstances that determine when someone should buy or lease a car, and knowing which option is best for your given situation will benefit your mental health long-term. Which Payment Plan Can You Afford? Your preferred means of compensation may impact whether you decide to buy or lease your new vehicle. When leasing a vehicle, you will accrue monthly costs until it is time to return the car, which can have pros and cons. On one hand, youre getting a vehicle with the latest technology during its most efficient years and may even have maintenance covered by the dealership as part of your lease terms. However, any cars value depreciates as soon as you drive it off the lot, which means that the longer you have to shell out monthly lease payments, the more you end up actually paying for the loan sometimes even more than you would have paid through a new car loan. When it comes to buying a car, the price tag is likely more than it would have been for a lease. However, most dealerships will be flexible with your financing options, ranging from paying the full price in cash when you sign the contract or spacing out your payment plan long-term with smaller payments each period. Additionally, if you keep up with maintenance well enough with your vehicle, you can keep it long after paying it off, which ultimately brings your more value from that specific vehicle than you would have gotten if you decided to lease. How Much Flexibility Do You Need? Some people prefer to always have the next best thing, which is where leasing comes in handy. You are only getting the vehicle for a fixed amount of time, which means that you can consistently upgrade to the next best thing, ensuring that you always drive the car up to the latest standards. That being said, that fixed amount of time can often be a dealbreaker for many people. If you dont like the car, it is tricky to get out of your lease, and you might be stuck with it for longer than you would like. You also need to keep mileage limits in mind, which means youll have to budget how much you drive throughout the set leasing period to make sure you dont go over and accrue more fees. It should go without saying, but if you have full ownership of the car, you have the freedom to drive it whenever you want and take care of it on your schedule with your own preferred mechanics. Plus, if you ever decide that its time for an upgrade, selling your car is an option at your disposal. However, youre likely going to have to worry about the cars eventual deterioration as the miles start to rack up, which can make driving your car something of a gamble in its later years. So, Should I Buy or Lease? Ultimately, there is no right or wrong answer to this question. You should evaluate factors such as the purchase price, your credit score, and any other criteria included in the car-buying process. Once this has been considered, see how each of the instances mentioned here fits your situation. Each option has its own set of benefits it all comes down to which one makes the most sense for you. Regardless of which one you choose, a local Bucks County auto dealer, such as Faulkner Buick GMC Trevose, will be able to bring you exactly what you are looking for, whether it beGMC lease optionsor our extensive variety ofnew Buick vehicles. Find Your Next Vehicle at Faulkner Buick GMC Trevose Once you realize that its time for a new vehicle, you can rely on Faulkner for the right car, truck, or SUV that you will be excited to drive in for however long that car is in your life. If youre interested in buying or leasing one of our new Buick or GMC models, contact us today to schedule your test drive!

While trading in a car with a loan still attached to it isn't the best idea, it's still an option if you deem it necessary. For some, selling your car with positive equity will mean money back in your pocket you can use towards the next transaction. But if you're selling your car upside down or with negative equity, be ready to fork over a bit more than you may have thought. But is it worth trading in your car with negative equity on your name? There are a few options to look for to keep your situation flexible, and it all starts with having an understanding of all the numbers involved. Calculate How Much Negative Equity You Have Before you even consider anything, the first step is to understand how much you owe on your loan. A loan of 10k will likely mean much lower negative equity than a loan of 30-40k. To calculate your equity, consider the value of your car and the loan amount you have. You can check a few reputable sites or contact your local dealer to get an evaluation of the worth of your vehicle. Once you have this, take your loan amount and find the difference. If your car is worth $20,000, but you owe $30,000, you have $10,000 in negative equity that you'd have to pay back. Pay the Negative Equity Out of Pocket Your first option is to just pay the negative equity out of pocket, which is much easier said than done. A small difference of $2,000 might be something you pay out of pocket, but a 10 or 20 thousand dollar difference is a lot more money to consider. You should also contact your lender and ask about the terms and conditions of paying your loan off quickly. Some lenders have a prepayment penalty built into the loan, which would add more to your payment. Roll the Difference Over Into Your New Car When trading in your vehicle with negative equity, a popular option is to roll the difference over into a new car. This allows you to pay down your loan on your new car without worrying about forking over the out-of-pocket cost of your negative equity. It comes at the expense of a higher payment than you would for your new vehicle but works well for smaller balances and can help get you on the road with a new car immediately, instead of worrying about the equity you have to pay back. Consider a Private Transaction Consider going the private route for your car sale if you find that your loan is upside down. Again, you want to make sure this is okay with your lender and you won't incur any fees or be violating any terms of the loan agreement. Private transactions might give you a bit more cash to work with, but they might also leave you having to fill out a ton of paperwork and spending a lot more time searching for a suitable buyer and then finding yourself a new car. If you need a car ASAP or don't want to spend time going through the paperwork, a trade-in is probably your best option. Tips for Your Trade-In These tips can help make the process much easier for you and ease your burden, depending on which route you choose. The entire goal of the process is to get you in a new car without paying more than you need, so consider a less expensive vehicle, dealership approval beforehand, and appropriate financing to set you up for success with your new car. Get a Less Expensive Car The biggest way to avoid trouble is to consider getting a cheaper car. This doesn't mean your vehicle has to be unsightly. If you drive an SUV, consider getting a sedan or another vehicle that gives you more room to work with. This way, adding negative equity to your auto loan term won't be as impactful. Get Approved Before Heading to the Dealer Make sure your next loan terms are appropriate for your situation. Remember, even when getting a new car, your terms will still depend on your income level and credit scores. If your monthly payment or loan terms make you uncomfortable, consider other alternatives before making your decision. While trading in a car with a loan still attached to it isn't the best idea, it's still an option if you deem it necessary. For some, selling your car with positive equity will mean money back in your pocket you can use towards the next transaction. But if you're selling your car upside down or with negative equity, be ready to fork over a bit more than you may have thought. But is it worth trading in your car with negative equity on your name? There are a few options to look for to keep your situation flexible, and it all starts with having an understanding of all the numbers involved. Trade-In Your Car With Faulkner Buick GMC Trevose A reputable dealer cares about your financial situation, and if trading in your vehicle is on your mind, reach out to Faulkner Buick GMC Trevose. Our dealers can help you understand how the cars you're considering affect your budget and break down the financial information you need to know. Value your trade-in, and reach out to us to begin your process and get you seated in a new car in an affordable way.

The new and used car buying market has seen its shares of ups and downs over the last two years. With the coronavirus pandemic changing how we live our lives in 2020 and returning to a semblance of normalcy in 2021, the car buying industry has seen significant upheaval. As we march forward into 2022, savvy car buyers want to look at the past to potentially see what the future holds and discover where they can get the best bang for their buck in 2022. Understanding the state of the new and used car market in 2021 can potentially shed light on where were heading in 2022. Here are some of the critical automotive trends you can look for to better understand where the automotive industry as a whole is headed. Used Car Prices 2021 saw a marked increase across the board in used car prices. With more people working from home and not traveling nearly as much as before, fewer used cars entered the market. With the supply down, prices on the existing inventory started to soar, as did the demand for used vehicles. Few people opted to invest in a new car model, and those looking for a used car flocked to dealerships looking for a good deal. However, even with the rising prices, the used car market has seen used car sales increases across the board in 2021. With this growth rate on a steady incline, car dealerships are trying to keep up with the demand on the used car market. Online Sales Are Here to Stay As more people stayed home, finding new avenues to connect with potential customers became paramount for car dealers. As the auto industry looked to embrace the power of online sales, the customers jumped at the chance to use the internet to make their car purchases. Since people could shop for luxury cars from anywhere with a wi-fi connection, meeting the customers where they are will become more important than ever in 2022. New Technology Finding Its Way Into New Cars Whether you are looking at a brand new 2022 Buick Envision or any number of models in our new car inventory, youre bound to find cars with all the latest technology hidden under the hood. The newest and latest technologies aim to make our daily lives easier in the short term and the long term.It was only a matter of time before these advancements made their way into the cars we drive as well. Vehicle manufacturers want to make their cars more connected than ever and provide the creature comforts of modern life from within your vehicle. Not only do you get to enjoy massage seats, but depending on the model of car you get, you can enjoy things like car wi-fi, advanced entertainment systems, and increased data access for your life on the go. Additionally, new safety features are introduced thanks to these technological advances, providing you with a brand new safety suite to keep you and your passengers safe. Electric Cars of the Future More styles of electric cars will be hitting the new car market in 2022, but it still may take some time to see all of the potential options. With more manufacturers looking to break into the market, promises of electric versions of your favorite car styles are coming to a dealership near you in 2022 and beyond. Knowing what you want out of a car style and if there is an available electric option will become increasingly more common in the future. Come to Faulkner Buick GMC Trevose in 2022! Whether you are in the market for a new or used car, you want a car dealership that you can trust in 2022. Faulkner Buick GMC Trevose has a new and used car inventory that can fit your every need. Additionally, we offer a wealth ofGMC lease options throughout Bucks Countyto help you fit your new car into your budget. Contact our team to learn more about our inventory and how we can help you find your new car today!