Should I Finance or Lease My New Car?
You’ve been searching everywhere to find the right vehicle for you, and you’ve finally found it. Now comes the part where most Americans struggle, paying for it. As, many of us have been told countless times buying a car is the second most important thing you’ll likely buy next to your home. Our finance & insurance managers in the Preston Automotive Group are often asked, “Should I finance or lease my new car?” The answer depends on your current situation and what your ultimate purpose and goal for this vehicle is.
Let’s start with a quick survey, ask yourself the following questions:
Do I have a small down payment or even no down payment?
Do I take care of my vehicles, inside and out?
Do I drive between 10,000 to 15,000 annually?
Do I like to trade cars every 3 years or so?
If you answered yes to all 4 of those questions, leasing sounds ideal for you.
First and foremost, “What is leasing?” Dictionary.com defines leasing as granting the temporary possession or use of (lands, tenements, etc.) to another, usually for compensation at a fixed rate.
You certainly get more car, for less money when it comes to leasing! Leasing gives your average joe the option and affordability to drive that $30,000 vehicle that would typically be out of his price range if he were to finance it.
Unlike finance payments, lease payments are based on a percentage of the vehicle price. The buyer pays the difference between the base price of the vehicle and the expected value of the vehicle at lease end, often referred to as the residual value. Let’s say for instance that the car you picked has a base price of $30,000. The market has suggested that the vehicle will be worth $16,000 at the end of the lease term, meaning you would only make payments on the remaining$14,000 as opposed to the $30,000.
Technology is getting to be a huge factor in the decision making on whether or not to lease. With so many new innovations happening in the world of cars yearly, it’s very difficult to not want the best when the best comes out. Leasing allows you to trade in your vehicle at the end of your lease term with no penalty and best of all no negative equity. As long as the lease is under the allotted pre-determined mileage and free from excessive wear and tear you will be able to walk away free and not upside down on a loan. Although you can select lease terms ranging from 12 months to 48 months, the average term for an American consumer is 36 months (3 years).
Did you answer no to most or all of the survey mentioned earlier? Then the option to finance is most likely is the option for you.
The best thing about financing is you are actually using someone else’s money to purchase the vehicle, and once the last payment has been signed, sealed and delivered, you own the vehicle for good.
The desire to customize plays a huge role in the reasoning behind financing. The vehicle is yours to modify or customize as you like. Air intakes, lift kits and sometimes window tinting are very frowned upon and could be very costly in vehicle leasing. This goes hand and hand with wear and tear. You will not be penalized for any wear and tear on the car once you have taken ownership of it.
Typically on the Eastern Shore of Maryland, the finance option is exercised 8 out of 10 times. Why is that? When asked around a majority of Preston Automotive customers stated that, “I drive too many miles and I don’t have time to worry about minor wear and tear that could cost me more in the long run.” Believe it or not there are additional warranties for exceeding mileage and excessive wear and tear on a lease.
When it comes to financing vs leasing, there’s no definite answer on which one you should choose. Certain things you need to consider are your budget, driving needs, lifestyle and credit history before you decide whether to buy or lease.
There are plenty of auto lenders who can provide you with financing that works best for you, no matter whether you decide to buy or lease your next vehicle. If you still have questions and would like to schedule an appointment to sit down with one of our experienced finance & insurance managers, please give us a call today at 877-898-2470!
2016 Models at Preston Automotive Group Dealerships
It’s almost 2016, well not quite, but car manufacturers are always ahead of the game. The Preston Autoplex has already seen some of the most talked about 2016 models hit the showroom floor. The Autoplex is the home of Preston Ford, Preston Hyundai, Preston Nissan and Preston Mazda.
First off, Ford continues to produce the most stylish and durable mid-sized vehicles around, and the 2016 Ford Fusion is nothing short of that. The redesigned Fusion can be the perfect fit for anyone! Whether you’re wanting to impress that special someone with a night out on the town or just want to take a relaxing country drive, the 2016 Fusion could be the car for you. Providing a second to none driving experience with its responsive steering, comfortability and luxury, the 2016 Fusion has owners raving.
Offering eight models ranging from the SE with a 2.4-Liter, Turbocharged engine, to the more fuel efficient Hybrid, Ford Motor Company has done it once more — providing the ultimate efficiency, durability and dependability to its drivers.
Hyundai introduced the 2016 Elantra GT at the Chicago International Auto Show earlier this year. Without a doubt, the 2016 model is one of the best-looking cars in the Hyundai lineup. The new grill, which differs from previous years, is sure to catch your eye. And who doesn’t like bigger wheels? Hyundai went with the 17-inch wheels to give it a sportier feel.
If you’re not a fan of the hatchback styling, don’t worry the 2016 Hyundai Elantra Sedan is also here. With no massive changes under the hood, the 1.8-liter and 2.0 Liter GDI engine options are still available for the taking. With the fluidic design that Hyundai owners have come to love, Hyundai has worked on the performance of the 2012 American Car of the Year. It performs better and has the necessary “oomph” to go the extra mile.
The 2016 models of the Mazda 6 and Mazda CX-5 have made their presence known as well. One of the 2015 Ten Best winners has not changed much just refreshed itself. We’re talking about the 2016 Mazda 6 with a new center stack that makes for an airier cabin. It also features a larger, seven-inch touch screen that has a floating-style design. Switching gears, the spacious and roomy cabin of the Mazda CX-5 makes it the family car of your dreams. Did we mention that the 2016 model CX-5 was named an IIHS Top Safety Pick Plus, when equipped with available Smart City Break Support? Bottom line: Both of these vehicles are top-notch and “can’t-go-wrong” choices!
As for Nissan, one of the most anticipated models is coming this summer: The 2016 Nissan Maxima. With 300 Horsepower and a 30 MPG rating, the four-door sports car is back. Its inspiration came from the U.S Navy’s Blue Angels, with the cockpit design of their aircraft taking the lead in the wrap around design of the Maxima’s. Be sure to follow Preston Nissan on Twitter and Facebook so we can let you know when the first one hits the showroom!
Inventory is moving fast so be sure to get your favorite 2016 model today! The Preston Autoplex is located on the corner of Routes 318 & 331 in Preston, Maryland.
Snow Hill Auto Body, located south of Salisbury and Ocean City, MD, will be hosting the 3rd Annual Pig and a Jig BBQ Festival on May 29th and 30th. This event will feature fun for the whole family including BBQ, Live Music, Adult Beverages, and more! This two day event will take place from 4PM-10PM on Friday the 29th and 10AM-8PM on Saturday the 30th. The event is put on by the Kansas City Barbecue Society, a non-profit organization, which hosts BBQ competitors from all over. The mission of the Pig and a Jig Event is to support, teach and protect Worchester County Children. 100% of the money raised by the event goes to support public education and child advocacy in Worchester County.
There will be all sorts of different BBQ-ers from all around the country, so you will have no shortage of tasty food to eat. There will also be live music from several local bands and musicians. Those musical acts include: Randy Lee Ashcraft, Matt Watson Band, The STIMS, Hot Meals, Matt Hodges, and The Truth. While those bands are rockin’, be sure to check out the various activities like the Mechanical Pig as shown below (a porky take on the popular mechanical bull). 
It’s going to be a fantastic two days, rain or shine. To find out more information you can call (410) 726-1881. If you’re ready to go, this will be the address to type into your phone’s GPS: 5761 Worcester Hwy, Snow Hill, Maryland 21863. We hope to have the best turnout ever, so come out and support the 2015 Pig and a Jig!
Mazda Donates 1 Million Dollars to St. Jude’s
Mazda’s North American Operations (MNAO) just wrote a rather larger check out to St. Jude Children’s Hospital in the amount of $1,ooo,ooo! These are all the funds that Mazda has raised over approximately a 2 month time period from their Drive for Good campaign. If you’ve every been inside the Preston Mazda Showroom you probably saw this sign:
Now, just this week Mazda totaled up the money raised from this campaign and rounded up to give an even one-million-dollars to St. Jude Children’s Hospital. This money will fund the research and treatment of childhood cancers and other life-threatening diseases. “Mazda’s donation to St. Jude helps them achieve their mission of reducing the cancer rate among children and allows them to continue their treatment without ever giving a patient’s family a bill,” said Jim O’Sullivan, President and Chief Executive Officer at MNAO.
The large sum was achieved by MNAO donating $150 per Mazda sold from November 21st, 2014 through January 2nd, 2015. That means that just in North America alone there were over 6,500 new Mazda’s purchased in about 45 days – that is remarkable. That statistic also speaks to the fact that Mazda is such a popular and reliable auto brand.
Mazda had also pledged to donate 1 hour of community service for every test drive taken during that time period. That ended up totaling 66,000 hours! The company’s employees and dealers plan to work together to contribute the full amount of service hours.
Mazda North American Operations Officials present the check to St. Jude Children’s Hospital
Preston Auto Group to Donate to March of Dimes
This just in – The Preston Automotive Group will be making donations of $100 for each vehicle sold at ANY of our locations across the Eastern Shore toward the March of Dimes. We will be donating for every vehicle bought April 28th, 29th, and 30th. This is happening Group-wide – meaning every Preston Auto Group Dealership will be participating and donating $100 for each car sold during those days. It doesn’t matter if the car is new, used, or certified pre-owned; we will be donating for every single vehicle sold.
And if you know anything about car dealers, then you’ll know that the end of the month is when the best deals are had! We will be able to get everyone approved for a loan and get you in the car of your dreams. We have Ford, Lincoln, Nissan, Mazda, Hyundai, and used vehicles at 9 locations across the Eastern Shore. This could be a great opportunity to get that new vehicle you’ve been looking into for a while. You get yourself a car and we donate $100 to a fantastic cause.
The actual Mid-Shore March of Dimes walk will take place on Sunday, May 3rd at the Preston Autoplex. Registration will start at 12pm and the walk will commence promptly at 1pm. It is a 3 mile walk through the town of Preston and back to the Autoplex. We will also host a Zambelli Firework display at dusk (around 8PM) the night before! If you weren’t here last year, be sure to check it out on our prestoncares.com page, along with other community activities we’ve participated in! It’s going to be a fun couple days for the actual event, but please help our donation total go through the roof by purchasing a car between April 28-30th. If you don’t need a car right now, then be sure to refer some friends to us! Let’s break our donation goal!
2014 F-150 in Maryland and Delaware
The 2014 F-150 is at the Preston Automotive Group! Now this may seem like old news because the 2015 version has already been out for several months, but we do in fact still have over 150 of these 2014 F-150’s spread out at our 5 Ford Dealers across the Eastern Shore of Maryland and Delaware! Don’t get us wrong, the newest F-150’s are really nice and we have plenty of them too, but last years model — the 2014 F-150 — ain’t no slouch. At our Preston Ford and Boulevard Ford locations we are also celebrating Truck Month for the remaining days of April. All these reasons are such that you should definitely look into the benefits of a 2014 Ford F-150 from the Preston Automotive Group.
If you’d like to check out our entire inventory of 2014 Ford F-150’s, then you can check out that link. If you live close to one of our dealerships, but they don’t have the 2014 Truck for you, then be sure to look on our mother site www.prestonmotor.com. We’ll make dealing with us easy and will even deliver the Truck to your door! Please give us a call at 410-673-7171 if you see a 2014 F-150 that you like.
If you follow our blog, then you already know that April has been deemed Car Care Awareness Month. As Spring turns into Summer you’re going to want to have your vehicle’s maintenance in tip top shape. So, we, along with carcare.org, have put together a list of regular maintenance items that you should be checking and how often.
There are a handful of things that you should be checking regularly — before any longer trip of 50 miles or more and every now and then in between — just to be safe. You’ll want to find out about any Dashboard Indicator Lights that are on. This includes but is not limited to the check engine, low engine oil, low tire pressure, and door ajar lights. You’ll also want to check out your actual lights. That would be Headlights, Taillights, Turn Signals, etc. Some of these are illegal to drive if they are burnt out. Tire Inflation and Condition is another thing that should be checked frequently. We mentioned the tire inflation dashboard light but your tires may be low without the light being on — AND most older cars don’t even warn you. If you are driving with under or over-inflated tires, that will cause them to wear unevenly. It’s alway important to look for irregular wear on your tires, so that way you know what to do to fix it. Whether it may be needing an alignment or simply putting some air in or taking some air out like we said before, and that it is important to regularly check your tires. Another thing you should be checking often would be Windshield Washer Fluid. It is important to be able to see while driving (obviously), so being able to clean your windshield off at a moments notice is imperative. Make sure your washer fluid is somewhere close to the Full line. One of the last things we recommend you check frequently is your Engine Oil Level. If we had to rank the most important components of a car, then the engine would be at the top because without an engine the car would not go. That being said, the engine wouldn’t matter at all without oil, so if you think about it, that means engine oil is the most important component of a car. And just because you got an oil change last month, doesn’t mean you shouldn’t be checking the oil level several times before the next change. You could have a slow leak, your oil cap could have been put back on loosely, or any number of other reasons, and then you may find yourself with a blown engine.
Now that you know what to check on a regular basis — once twice a month — here are the maintenance items you should be checking (or getting someone to check) every 3 moths or 3,000 miles.
3 Months / 3,000 Mile Maintenance
Automatic Transmission Fluid
Battery and Cables
Belts
Dashboard Indicator Light On
Engine Air Filter
Engine Oil
Exhaust
Hoses
Lights
Power Steering Fluid
Tire Inflation and Condition
Windshield Washer Fluid
You probably noticed that some of this was repeated from regular maintenance. That is simply our way to stress that you keep on top of it at a minimum of every 3 months. The following will be the maintenance that we recommend to have completed every 6 months or 6,000 miles.
6 Months / 6,000 Mile Maintenance
Automatic Transmission Fluid
Battery and Cables
Belts
Chassis Lubrication
Dashboard Indicator Light On
Engine Air Filter
Engine Oil
Exhaust
Hoses
Lights
Power Steering Fluid
Tire Inflation and Condition
Windshield Washer Fluid
Wiper Blades
All these items are important, but the ones that should stick out to you are the fluids: the transmission fluid, engine oil, and power steering fluid. These are all extremely important to making a car “go” and should be check at a minimum of every 6,000 miles. The next set of maintenance recommendations are to be completed every 9 months or 9,000 miles.
9 Months / 9,000 Mile Maintenance
Automatic Transmission Fluid
Battery and Cables
Belts
Dashboard Indicator Light On
Engine Air Filter
Engine Oil
Exhaust
Hoses
Lights
Power Steering Fluid
Tire Inflation and Condition
Windshield Washer Fluid
All of this is repeat checks, but that is only because the next big check should be coming every year or 12,000 miles. Depending on your state regulations, this is usually when you will have a car inspection. However, if you aren’t required to get an inspection every year, as it is in Maryland, then you should be doing these things on your own.
12 Months/ 12,000 mile Maintenance
Automatic Transmission Fluid
Battery and Cables
Belts
Brakes
Cabin Air Filter
Chassis Lubrication
Dashboard Indicator Light On
Coolant (Antifreeze)
Engine Air Filter
Engine Oil
Exhaust
Hoses
Lights
Power Steering Fluid
Steering and Suspension
Tire Inflation and Condition
Wheel Alignment
Windshield Washer Fluid
Wiper Blades
Hopefully you are keeping up on your vehicles maintenance. We can’t force you to keep your car up to date on it’s maintenance, but we can provide the information you need to do it yourself and we will certainly be there to help you if there’s something your can’t do yourself. You can bring your vehicle into one of Preston Automotive Group’s several dealership service locations. We will complete the maintenance and give you a complete rundown of what was completed. It takes all the pressure off of you and you will have the peace of mind knowing that you are driving in a safe and maintained vehicle.
2014 Ford F-150 Surplus at MD and DE Ford Dealers
The 2014 F-150 is at the Preston Automotive Group! Now this may seem like old news because the 2015 version has already been out for several months, but we do in fact still have over 150 of these 2014 F-150’s spread out at our 5 Ford Dealers across the Eastern Shore of Maryland and Delaware! Don’t get us wrong, the newest F-150’s are really nice and we have plenty of them too, but last years model — the 2014 F-150 — ain’t no slouch. At our Preston Ford and Boulevard Ford locations we are also celebrating Truck Month for the remaining days of April. All these reasons are such that you should definitely look into the benefits of a 2014 Ford F-150 from the Preston Automotive Group.
The most exciting thing about the 2014 F-150 is that it comes in 10 different trim levels! That is an incredible amount of selection that you as the consumer get to choose from. The XL and XLT are going to give you what is necessary to get the job done but not really anything beyond that. The STX, FX2, FX4, and SVT Raptor are going to be your off-road, more rugged trim levels. The Lariat, King Ranch, Platinum, and Limited editions will give you more luxury as you move up. Whatever your tastes, you’re almost certain to find a 2014 Ford F-150 that meets your needs. And with over 150 of them, the Preston Automotive Group should be your one stop truck shop!
The 2014 F-150’s all fall into an MSRP Range of $25,025-$50,985; HOWEVER, we are starting the them off at a low price of $17,995. That’s potentially more than $7,000 off MSRP! Since there are so many variations of the same truck, there are obviously going to be several engine options. The 2014 models can be equipped with the following: A 3.5L EcoBoost V6, a 3.7L V6, a 5.0L V8, and the standard Raptor engine is the 6.2L V8. These F-150s, when properly equipped, are rated to tow anything from 6,700 pounds all the way up to 11,300 pounds. The F-150 is obviously a beast, and has been for years, so what about the interior?
Well, depending on the model you get, the interior can be very luxurious. Some of the top models come standard with leather upholstery, MyFord Touch infotainment system and an 8-inch touchscreen to run it on, wood trim and a sunroof. There are other nice features that you can obtain without having to spend top dollar such as keyless entry in the base XL model or chrome exterior trim on the XLT. So, as you can see, there are an almost countless number of ways you could make one of our 2014 F-150’s uniquely yours.
If you’d like to check out our entire inventory of 2014 Ford F-150’s, then you can check out that link. If you live close to one of our dealerships, but they don’t have the 2014 Truck for you, then be sure to look on our mother site www.prestonmotor.com. We’ll make dealing with us easy and will even deliver the Truck to your door! Please give us a call at 410-673-7171 if you see a 2014 F-150 that you like.
Preston Autoplex Hosts March of Dimes Walk
The Preston Automotive Group will organize a walk for the March of Dimes to take place on the grounds of the Preston Autoplex on May 3rd, 2015. We have done this for many years and this year David Wilson Jr. will be the chairman for the event. The March of Dimes March for Babies official mission reads, “We help moms have full-term pregnancies and research the problems that threaten the health of babies.” It’s a fantastic cause and we are excited to be participating again!
We have already started to raise funds in order to reach our overall, Preston Automotive Group goal of $25,000. Our accounting office, located in between the Ford and Hyundai Buildings, has had baked good sales, hot dog lunch sales, and 50-50 raffles in order to raise money for this tremendous cause. We also have several other smaller teams across the Autoplex that have formed to help surpass our aforementioned goal. Our employees are pushing it on social media because it is such a worthy organization. You can even join our team if you want OR you can start your own! You could start a team with your family members or even with your coworkers! To join our team you will need to follow this link for Preston Automotive Group March of Dimes Team. If you would like to start your own March of Dimes team then you would follow the second link.
The event will kickoff not on the 3rd but rather Saturday, May 2nd at dusk with an awesome fireworks display from Zambelli Fireworks in the field behind the Autoplex. The walk, as mentioned, will take place on May 3rd. Registration will begin at 12pm and the walk will begin promptly afterward at 1PM. The course will start and end at the Preston Autoplex and travel 1.5 miles through the town of Preston and back — totaling 3 miles. After the walk, at around 2PM, we will have Mike Hines and his band The Look perform and there will be food from local eateries. In addition, there will be activities for kids as well as mascot appearances by Sherman Shorebird and the Preston Frog!
It’s bound to be a great day rain or shine and we are very excited about raising money for the March for Babies Organization. Please join us on May 3rd for this wonderful event, we’d love to see you there!
Ford Truck Month is Here!
The Preston Automotive Group is excited for Ford Truck Month in April! With 5 Ford Dealerships spread out across the Eastern Shore of Maryland and Delaware, we have a fast inventory of over 500 Trucks to choose from! From Preston and Denton Ford of Maryland, to Boulevard Ford of Georgetown and Lewes, and down to Pittsville Ford near Salisbury, MD, you don’t have to travel far to find a Preston Automotive Group Ford Dealer on the Eastern Shore!
All during the month of April we will be celebrating Truck Month. What does that mean for you? Well, for one, you will continue to get the best price on a new OR used truck. We don’t wait for Truck Month to lower our prices. For instance, you can get a mean 2014 F-150 for under $18k, and that has remained the same since January 2015. In fact, we have over 150 of last years (2014) F-150’s at our various locations across the Shore. We also have a plentiful selection of 2015 F-150’s and 250’s as well as larger work trucks like 450’s and 550’s.
And that only covers our NEW trucks! We also have 50 used Ford Trucks in our inventories at our various locations. From Rangers to F-250’s, we have a clean, pre-owned Ford Truck for you! Be sure to take a look at our inventory on www.prestonmotor.com. If you specifically would like to look at our entire new truck selection, you can click this link for Awesome New Ford Trucks. If you’re more in the market for a pre-owned truck, then you can view our inventory by clicking this link for Incredible Used Trucks. 
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Recent Blog Entries
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