Group Health Insurance

So You're Shopping For A Car

• A chance to trade in that old clunker.
  
  
• Ownership and equity in the car.
  
  
• Control of your wheels. If you want to add eight speakers or take out the backseat, go ahead.
  
  
• No penalties if you don't hold up your end of the maintenance agreement, although you will want to service your car to enhance both its service to you and your ability to sell it in the future.
  
  
• No mileage limits.
  
  
• Payments based on the value of the car, not its depreciation. That may mean higher monthly payments than with a lease.
  
  

• A cost-effective alternative to buying a car every few years.
  
  
• An affordable way to drive a car that you may not be able to afford to buy. Monthly lease payments are generally less than financing payments.
  
  
• A maintenance contract that requires you to keep the car in good shape and not make any alterations to it.
  
  
• A factory warranty that almost always covers the car for your entire lease, so major maintenance isn't your financial responsibility.
  
  
• Annual mileage limits (about 12,000 to 15,000) with significant penalties if you put more miles on it than the lease stipulates.
  
  
• Payments that may be income tax deductible if you're leasing the car for business. Ask a tax advisor for details.
  
  
• Penalties if you terminate the lease earlier than agreed. Charges vary.