Sat04192014

News

City chips in $7,000 for SFMOMA installation

City chips in $7,000 for SFMOMA installation


Town Crier File Photo
The Los Altos City Council earmarked $7,000 for the purchase of Chris Johanson’s artwork.

The city of Los Altos will contribute $7,000 toward the purchase of a $28,000 art installation featured in the San Francisco Museum...

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Schools

LASD students celebrate service learning

LASD students celebrate service learning


Courtesy of Sandra McGonagle
We Day, held March 26 at Oracle Arena in Oakland, exhorts students in the Los Altos School District to effect positive change.

More than 150 Los Altos School District student leaders joined 16,000 Bay Area students to ce...

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Community

Film career launches with Cannes screening

Film career launches with Cannes screening


Courtesy of Zachary Ready
Los Altos native Zachary Ready, front left, and co-director Andrew Cathey, right, celebrate their Campus MovieFest awards.

After learning the art of filmmaking as a child in the front yard of his family’s Los Altos home...

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Sports

Sports on the Side

Pathways Run/Walk slated May 10 in Hills

The 13th annual Pathways Run/Walk is scheduled 9 a.m. May 10 at Westwind Community Barn, 27210 Altamont Road, Los Altos Hills. The course wends through Byrne Preserve and onto the Los Altos Hills Pathways sys...

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Comment

Now is the time to expand parking: Editorial

Just a few short years ago, vacancies dotted downtown Los Altos. Property owners had a hard time attracting businesses because there was a shortage of customers. That is no longer true. Now, the cry is: Where are my customers going to park?

The city...

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Special Sections

Epicurean's Mary Clark Bartlett: Serving sustainability

Epicurean's Mary Clark Bartlett: Serving sustainability


Courtesy of Michael McTighe
Mary Clark Bartlett is founder and CEO of Los Altos-based Epicurean Group.

Labels such as “healthy,” “organic” and “green” are rarely used to describe the meals served in most corporate cafes in Silicon Valley. But on...

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Business

Local realtor honored for volunteer efforts

Local realtor honored for volunteer efforts


Ellie Van Houtte/Town Crier
Coldwell Banker recently recognized realtor Kim Copher, right, for her philanthropic efforts. Copher and colleague Alan Russell, left, volunteer at Reach Potential Movement, where they collect books for its Bookshelf in ...

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Books

Local Author Spotlight

In an effort to support authors from Los Altos, Los Altos Hills and Mountain View, many self-published, Book Buzz periodically spotlights their books and offers information on where to purchase them. Local authors are encouraged to submit brief summa...

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People

Noteworthy

RotaCare honors local volunteer

RotaCare Bay Area honored Jim Cochran of the RotaCare Mountain View Free Medical Clinic with the Outstanding Clinic Volunteer Award April 10 for his commitment to RotaCare’s mission of providing free medical care to t...

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Travel

Sausalito: Explore the historical city with world-class views

Sausalito: Explore the historical city with world-class views


Eren Göknar/ Special to the Town Crier
Sausalito offers panoramic views of the San Francisco Bay. A number of companies schedule boat tours that sail past Angel Island and Alcatraz.

On a clear day, Sausalito offers spectacular views of the San Franc...

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Stepping Out

Western Ballet performs this weekend  at Smithwick Theatre in Los Altos Hills

Western Ballet performs this weekend at Smithwick Theatre in Los Altos Hills


Courtesy of Alexi Zubiria
Western Ballet’s “La Fille Mal Gardée” features Alison Share and Maykel Solas. The production runs Friday and Saturday at Foothill College

Western Ballet is slated to perform “La Fille Mal GardéeR...

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Spiritual Life

Magazine

A yoga class a day keeps the stress away

A yoga class a day keeps the stress away


Van Houtte/Town Crier Yoga of Los Altos hosts a variety of classes, including Strong Flow Vinyasa, above, taught by Doron Hanoch. Yin Yoga instructor Janya Wongsopa guides a student in the practice, below.

It’s nearly 9 a.m. on a Monday mornin...

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Tips From The Auto Brokers: Don't be fooled leasing companies: they're just like dealership

If you are like most people, your first thought of acquiring a new vehicle is a happy one: you behind the wheel of that hot new car of your dreams.

Your second thought is a little less scintillating: you walking into a dealership, like a fly into a spider's web.

As we've stated previously, dealerships are like casinos; they build big, fancy showrooms to lure you in, persuade you that you somehow are going to come out ahead in the car-buying or leasing process and then take as much of your money as they can over a period of several hours.

Leasing companies differ from dealerships in that they don't have showrooms, and they offer you more personalized service. They may go so far as to insinuate that they exist to save you money in your lease transaction.

But don't be fooled: leasing companies, like dealerships, are in the business of making as much money on your leased vehicle as possible.

They don't open up their doors to help you; they open up their doors to help themselves to your money under the guise of helping you.

We've made this point before, but it bears repeating: leasing an automobile is a complex transaction in which the consumer is at a distinct disadvantage. This is due to the lack of federal regulations pertaining to disclosure of what is known as the money factor, or buy rate.

This is the rate the leasing bank charges for the lease. But while the dealership or leasing company is privy to this internal rate, the consumer is not, and typically it is marked up substantially, without consumer knowledge.

We cannot stress enough what a slippery slope this can be for you, the consumer. Your best bet always is to find a broker to act as your agent, in your best interest, to protect you from being gouged.

But we know some of you are stubborn, and others may be convinced that you are the best negotiators walking the earth.

Here is a tip for ye of little faith.

Besides your monthly lease payment, the most significant factor to you in your lease transaction probably will be your out-of-pocket expense prior to delivery. This is the amount for which you will write a check upon signing the lease - your total drive-off. This is not the same as your down payment.

With a leased vehicle, the Gross Capitalized Cost (commonly, the "cap cost") is equivalent to the cash price. When the dealer or leasing company gives you a down payment figure, remember that technically down payment translates into the capitalized cost reduction, or the amount by which you effectively pay down the lease in advance in order to reduce your future monthly payments.

Added to your down payment are the following items: first monthly payment; refundable security deposit (if applicable); licensing fees and any other applicable fees, such as the $5 California Tire Disposal Fee; luxury tax (if applicable); and state sales tax.

In other words: ask for your total drive-off; don't be misguided by the term "down payment."

And don't forget that for every leased vehicle there is a bank acquisition fee, charged by the bank to the dealer for "doing" the lease. This is a mandatory fee that represents yet another opportunity for the dealer or leasing company to mark up the cost of your lease - in this case, an average of an additional $300 to 400 of free money hidden in your lease.

For dealerships and leasing companies, profit is the name of the game; and you, the consumer, are the profit source.

Beware of the wolf in sheep's clothing.

Hammer and Kelly are associated with Hammer Auto, a new car auto broker in Palo Alto. For more information, call 813-6100 or visit the Web site at www.hammerauto.com.

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