Understanding the 20/4/10 Rule When Financing a Car

Shoppers looking to replace their pre-owned cars have a big decision on their hands. Should they sell their old vehicle? Trade it in? Or maybe just keep it? This guide can help them figure out the best course of action. Sell It While it’s true that in many cases selling a car will get you the most money, this can also be a hassle. You have to advertise your vehicle and hope you can find a buyer willing to give you what you’re asking. Selling can also be a nuisance because when you do sell it, immediately you won’t have a car, which could be tricky, even for getting down to a dealership. Trade It In The best part of trading in a vehicle is that the entire process can be done at the dealership. They’ll let you know what they will offer you and then you can immediately pick out your replacement. Plus, right now, pre-owned car values are still high, which means that what a dealership offers could be very comparable to what you could get from a private sale. Keep It It could make the most sense not to sell or trade in your car. If you only have the one vehicle and there are multiple drivers in your household, the smartest move may be to hang on to it for a while. Not sure what you should do with your cold car? Lyon-Waugh Auto Group can help you make the best decision. In addition to offering top dollar for your trade-in, we have a big selection of new, pre-owned, and Certified Pre-Owned models that could be the perfect replacement.

There are so many perks toa luxury car lease. While lease prices are certainly attractive, you’ve probably noticed they’ve started to climb. These are the ins and outs of securing an auto lease at Lyon-Waugh Auto Group. Leasing a Vehicle When you lease a vehicle, you’ll benefit from a lower auto payment than you’ll see when financing. You will work with our team to set up a term for your lease, which usually last two or three years. Then, at the end of your lease, you just need to return your vehicle to our dealership – there’s no selling stress involved. Lease Payments You’ll be responsible for making regular monthly payments throughout the duration of your lease. The cost of your lease is determined by looking at your vehicle’s current value and its estimated value at the end of your lease, also known as its residual value. You’ll have to pay the difference between the two, which is your vehicle’s depreciation. Leasing is much more affordable than financing, but it does include restrictions. Since your vehicle’s cost is dependent on its value, if it has extra mileage or wear at the end of your lease, you will likely owe more. The Reason Behind the Rise As we mentioned, your vehicle’s cost is dependent on its current value. Unfortunately, since everything has been so shaken up in the market in recent years, car production has decreased. However, the demand for vehicles is still high, so that forces vehicle prices to rise. Want to discuss your lease options? Stop in at our car dealership in Peabody, MA to visit with our team about your options or get started securing your luxury lease today!

While you may have a rudimentary idea of how some car parts work, it often pays to dig a little deeper. The spark plugs, for example, are a component most people know about, but they’d probably have a hard time describing what they do exactly. This guide aims to offer some insight. The Role of Spark Plugs The spark plugs aren’t named by accident. When you turn your car on, they provide the spark of electricity needed for the engine. This spark ignites the fuel and air mixture in order to get the pistons moving. Replacing Your Spark Plugs The good news with spark plugs is that they usually last a very long time. Because they can hold up well to 100,000 miles, you may never need to worry about them. If your car is getting close to that number, however, it’s a good idea to have the spark plugs examined. When Spark Plugs Go Bad While age is generally the biggest factor when it comes to spark plugs wearing out, they can go bad. This can happen when carbon builds up, which is often attributed to an old and dirty fuel filter. When the fuel-to-air ratio is incorrect, this is another factor that can lead to faulty spark plugs. Signs of Bad Spark Plugs There are some warning signs to look out for with your spark plugs. If you have trouble getting your car started, it could be that the plugs are starting to fail. Rough idling or lackluster acceleration are other issues that could indicate you need new spark plugs. To have your spark plugs looked at, you can make an appointment with the service center at Lyon-Waugh Auto Group in Peabody.