Is Leasing Right For You?

When it comes to deciding whether to lease or buy a car, there are a number of factors that must be taken into consideration. Essentially, in a lease, you never "own" the car. You make payments for 2-3 years and, then return the car. Let’s look at some of the advantages and disadvantages of leasing a car.

If you are a person who routinely switches Automobile Accident Lawyer Milwaukee every two to three years, it might be right for you to lease. A lease is similar to a long term rental, with a contract for a fixed amount of time. The contract will establish your monthly payment and the term of the lease. At the end of the term, your car has a residual value. That value is established by the leasing company based on factors such as mileage, seasonality, and disposal performance. You are then given the option to buy the car at the end of the lease for the residual value. If you are in love with the car, or it is worth well above the residual value, you may want to consider it. However, in most cases, you simply hand over the keys and walk away.

Leasing typically allows a person to get a nicer car for the same amount as purchasing a lower-end car through a loan. You are only "financing" the difference between sales price and the residual value. In a loan, you are financing the entire purchase price.

Lastly, in a lease you pay less sales tax. For example, in a conventional purchase on a $25k car, you pay tax on the entire purchase price. In a lease, you solely pay sales tax on your monthly payment. In other words, if your payment is $300/month then your only taxed based on that monthly payment.

In summary, lower out of pocket expenses, lower monthly payments, and the option to purchase the car at lease end are some of the major advantages to leasing. Furthermore, the purchaser gets the satisfaction of a car that is almost always under warranty, and a new car every two to three years. However, there are several drawbacks to leasing a car.

One potential drawback is the amount of miles you drive on average. In a lease, there is a specified amount of acceptable mileage. Most Automobile Personal Injury Milwaukee leases are constructed around twelve thousand or fifteen thousand miles per year. If you go over the mileage, there will be a per-mile penalty at the end of the lease.

You are not able to just lease any car, as they are limited to what the dealership offers. There are also several turn in fees and your insurance will be higher because leases have a higher minimum insurance requirement then most people typically insure their cars for. Lastly, and one of the biggest disadvantages, is that after two or three years you walk away car-less and with no equity.

There are many potential reasons and factors for leasing but one must balance the positives and negatives to come to a sensible conclusion. Hopefully, we have been able to assist you in making this important decision.

If you or a loved one has suffered an injury due to the negligence or fault of another person, call Gruber Law Offices, LLC today for your free consultation. There is no fee unless we win and we can meet you at a place that is convenient for you such as your place of work, hospital, home, or our conveniently located downtown Milwaukee office.

Speak with one of our lawyers right now by calling 414-276-6666 for a free initial consultation. “ONE CALL… THAT’S ALL!”

Studies Show Dangers of Loose Objects In Automobiles

Recent studies have shown that many drivers are increasing the risk of injury or death in automobile accidents by leaving items unsecured. Safety expert, Sean Kane of Safety Research and Strategies, told Good Morning America that ordinary objects in cars and trucks are responsible for 13,000 injuries each year. Those half-filled water bottles, canned goods, lab tops could all become dangerous projectiles when hurling through the air during collisions. At 55 miles per hour, a 20-pound object hits with 1,000 pounds of force -- so powerful that a suitcase can literally seer the arm of a crash test dummy. Sadly, many Automobile Accident Lawyer Milwaukee are completely oblivious to the dangers until it is too late, as was the case for Heather Storey. Heather was driving her car in 2009 when she was hit by a tow truck. Subsequently, Heather’s computer turned into a deadly projectile and flew into her head and neck causing horrific fatal injuries that she succumbed to.

A recent segment of Good Morning America offered several tips for protecting yourself and your passengers. First, drivers should only pack items in the truck or cargo area of their vehicle, where they are less likely to intrude into the passenger compartments. If your car has a cargo area, utilize the cargo nets, anchors, and tethers to secure the cargo. Perhaps most importantly, if it is not important to your drive, leave the object at home. This gives people a good reason to clean out their cars. Drivers can also utilize storage compartments better and pack large, heavier objects low to the ground, against fixed components and centered inside the vehicle. By doing this, the objects will not build up momentum in the event of a Automobile Personal Injury Milwaukee.

There is no fool proof way to avoid a car accident, but drivers can take steps to minimize the potential for injury or loss of life. Cleaning out your vehicle and not leaving unnecessary heavy objects in your vehicle are two of those ways. By taking these steps, drivers can help reduce the chance of injury should they be unfortunate enough to be involved in a motor vehicle accident.

Increase Of Fatalities In Wisconsin Drivers

Although Wisconsin is committed to lowering the amount of deaths resulting from traffic accidents to zero, there has been an increase in traffic deaths throughout the first two months of 2012. This increase is attributable to many factors, but none more apparent than the failure of drivers and passengers to wear safety belts. The mild winter may have also been a contributing factor. An increase in drivers on the road could result in a higher probability of an accident.

As of the end of February, 78 people died in 65 traffic crashes. Over the same period last year fatalities totaled only 61. The total number of deaths through February is also above the five-year average of 71. In February alone, 34 people died in 25 traffic crashes, which is 12 more than last February’s total of 22, and one more than the five-year average of 33.

February 2011 was the safest February ever recorded for traffic deaths on Wisconsin roads, so the increase in February 2012 is not necessarily as startling as it appears. Also, the death total in February 2012 was much lower than the worst month of February on record, 73 deaths in 1968.

While drivers and passengers are wearing safety belts more frequently than they did 20 or 30 years ago, which is evidenced by the large drop in traffic fatalities over that time period, some drivers and passengers are still choosing not to buckle up. The fact that drivers and passengers still choose not to wear a safety belt is unfortunate. Wearing a safety belt is one of the best preventative measures a driver or passenger can use to avoid a fatal outcome in an automobile crash. All drivers and their passengers should perform the very simple task of wearing a safety belt every time they step into a vehicle. It will lead to a decrease in traffic fatalities instead of the recent increasing trend. It is also the law in Wisconsin.

 

Although Wisconsin is committed to lowering the amount of WrongfulDeath Lawyer Milwaukee resulting from traffic accidents to zero, there has been an increase in traffic deaths throughout the first two months of 2012. Wearing a safety belt is one of the best preventative measures a driver or passenger can use to avoid AutomobilePersonal Injury Milwaukee.

Studies Show Dangers of Loose Objects In Automobiles

Recent studies have shown that many drivers are increasing the risk of injury or death in automobile accidents by leaving items unsecured. Safety expert, Sean Kane of Safety Research and Strategies, told Good Morning America that ordinary objects in cars and trucks are responsible for 13,000 injuries each year. Those half-filled water bottles, canned goods, lab tops could all become dangerous projectiles when hurling through the air during collisions. At 55 miles per hour, a 20-pound object hits with 1,000 pounds of force -- so powerful that a suitcase can literally seer the arm of a crash test dummy. Sadly, many drivers are completely oblivious to the dangers until it is too late, as was the case for Heather Storey. Heather was driving her car in 2009 when she was hit by a tow truck. Subsequently, Heather’s computer turned into a deadly projectile and flew into her head and neck causing horrific fatal AutomobileAccident Lawyer Milwaukee that she succumbed to. 

A recent segment of Good Morning America offered several tips for protecting yourself and your passengers. First, drivers should only pack items in the truck or cargo area of their vehicle, where they are less likely to intrude into the passenger compartments. If your car has a cargo area, utilize the cargo nets, anchors, and tethers to secure the cargo. Perhaps most importantly, if it is not important to your drive, leave the object at home. This gives people a good reason to clean out their AutomobilePersonal Injury Milwaukee. Drivers can also utilize storage compartments better and pack large, heavier objects low to the ground, against fixed components and centered inside the vehicle. By doing this, the objects will not build up momentum in the event of a crash. 

There is no fool proof way to avoid a car accident, but drivers can take steps to minimize the potential for injury or loss of life. Cleaning out your vehicle and not leaving unnecessary heavy objects in your vehicle are two of those ways. By taking these steps, drivers can help reduce the chance of injury should they be unfortunate enough to be involved in a motor vehicle accident.