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AMERICAN SUZUKI
MOTOR CORPORATION
LEASING AND FINANCING
General
Q: How do I decide between a loan and a lease?
A: There is no right or wrong answer. You need to determine what better
fits your needs. Generally, leases are better for those who drive 15,000
or fewer miles per year, take excellent care of their vehicles and want
a new car every 2-4 years. Leases also enable you to get a bigger, better-equipped
car than you could afford to purchase, and you only have to pay for the
portion of the car's life that you use. Loans are ideal for those who
drive a lot of miles, put their vehicles to heavy or rough use and want
to build equity. Loans also give you the freedom to treat your car as
you please: sell, customize, trade, etc. As for maintenance and operating
costs, there's no difference at all.
Q: How can I improve my credit?
A: Months before you buy, cancel extra credit cards, pay off debt and
maintain steady employment. In addition, get a copy of your credit report
at least 60 days in advance so you can clear up any errors. If you have
a limited credit history, consider finding someone who is willing to co-sign
(i.e., share responsibility) for your loan.
Leasing
Q: What are the advantages of leasing a new Suzuki?
A: Remember, by leasing you can typically get a bigger, better-equipped
car than you could afford to purchase. You enjoy a new car every few years
and pay only for the portion of the car's life that you use (which means
a lower monthly payment). Enjoy end-of-lease options: buy the car, lease
another vehicle or explore other choices.
Q: Can I lease a used vehicle?
A: Please check with your dealer; they may offer pre-owned leases.
Q: Can I put a down payment on a lease?
A: Yes. Putting a "down payment" on a lease is called making
a capitalized cost reduction and, in essence, serves to lower your monthly
payments.
Q: If I choose to lease a car, does that mean that I'll never own it?
A: No. You will have the option of purchasing your Suzuki at the end of
the lease.
Q: What is the penalty if I go over my mileage limitation?
A: Although it may vary, excess mileage is normally billed at 15 cents
per mile. The lessee may arrange for additional mileage at the inception
of the lease at the rate of 10 cents per mile.
Q: If I lease a Suzuki, is the number of miles I can drive per year restricted?
A: No, any lease can be tailored to the needs of the lessee. The standard
is $15,000 miles per annum, but the lessee can choose more or less mileage
as needed.
Q: How large of a down payment do I need to make?
A: The bigger your initial payment is, the less your monthly payment will
be. No one knows your personal situation as well as you do, so knowing
how much you can afford to pay each month and planning accordingly is
always advisable. Also, do not forget to figure in taxes and other expenses
when doing your planning.
Financing
Q: What is the advantages of purchasing a new Suzuki?
A: Remember that by buying your new Suzuki, you can usually build equity,
drive as many miles as you want and carry lower limits for auto insurance
than with a lease. See your insurer for actual quotes. Also, you can sell,
trade or transfer title whenever you want.
Q: What is A.P.R.?
A: It is the Annual Percentage Rate of interest on a loan and is determined
by a number of factors including income, other outstanding debts and credit
history.
Q: What is the M.S.R.P.?
A: It is the Manufacturer's Suggested Retail Price of a vehicle. The actual
price is negotiable with your dealer.
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