Mark of Excellence Award Winners

We are proud to announce that Baum Chevrolet Buick has received the 2014 Mark of Excellence award for Buick. The dealership earned the award based on sales performance and overall customer satisfaction. Out of GM’s approximately 4,300 Chevrolet, Buick, GMC and Cadillac dealerships across the United States, only 301 dealerships received the Mark of Excellence Dealer award.

Several Baum Chevrolet Buick staff members were also honored with Mark of Excellence symbolic awards. Those top performers include:

·         Russell Crutcher (Sales) – Chevrolet honors

·         Will Daniels (Sales) – Retail Sales Manager

·         Tim Hoyt (Sales) – Chevrolet honors

·         Jeff Company (Sales) – Chevrolet honors

·         Dee Rutledge (Sales) – Certified Pre-Owned honors

·         Chuck Dunning (Collision Repair) – Body Shop Manager

·         Chad Scott (Service) – Service Repair Manager

Thanks to all our customers who helped us receive GM’s Mark of Excellence award. We are looking forward to 2015!

What is a car lease and how does it work?

2015 Buick Enclave

What is a car lease and how does it work?

Many people prefer leasing over buying because leasing provides the buyer with a brand new car that is under warranty and is dependable for a low monthly payment. A car lease is a finance option that allows a consumer to obtain a new car while only paying a percentage of the total value of the car. Residual value is the expected value of the car at the end of the lease. The lease percentage paid is calculated by subtracting the residual value of the car from the total price of the car. The difference of the total value and residual value is the lease price of the vehicle. Essentially, a lease pays for the deprecation of the vehicle throughout the course of a lease agreement.

An average lease runs for a 3 year term with an allocated 12,000 to 15,000 miles per year. 3 year terms are recommended because new-car bumper-to-bumper warranties are usually available for the first 3 years of purchase. The new-car warranty will cover most of the vehicle repairs needed throughout the course of the lease.

Once the lease terms have been fulfilled, you'll have no equity in the vehicle and will need to explore other vehicle options. Most leasing consumers consider this a benefit rather than an obstacle because each new car you lease will have up to date technology and safety features. However, if you would like to keep the car at the end of the lease terms you can generally buy it by paying cash or by taking out a car loan to finance the remaining balance owed on the car.

It is important to evaluate individual driving habits when considering a lease. There are many different factors to weigh before deciding if leasing is right for your budget and lifestyle. Most lease payments are negotiable and can be adjusted to meet individual needs. Stop by Baum Chevrolet Buick today for leasing assistance.

Sources:

http://www.autobytel.com/car-financing/lease-a-car/what-is-a-car-lease-100519/

http://usnews.rankingsandreviews.com/cars-trucks/Buying_vs_Leasing/

http://auto.howstuffworks.com/buying-selling/how-to-lease-a-car1.htm

http://auto.howstuffworks.com/buying-selling/how-to-lease-a-car.htm