Mon03022015

News

North Bayshore proposals available for viewing

The City of Mountain View received North Bayshore development proposals last week. They are available for viewing today (Monday) at the Community Development Department counter in City Hall, 500 Castro St. City staff will also prepare a high-level su...

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Schools

Former NFL player huddles with Blach students about life choices

Former NFL player huddles with Blach students about life choices


Ellie Van HOutte/Town Crier
Former NFL tight end Eason Ramson visited with Blach Intermediate School students, Feb. 13 to share the perils of drug use. Now a motivational speaker, Ramson works with at-risk teens in San Francisco.

Although former ...

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Community

Chi Am Circle, Chef Chu's prove 'golden': Club sets fundraising goal of $200K for March fashion show

Chi Am Circle, Chef Chu's prove 'golden': Club sets fundraising goal of $200K for March fashion show


Courtesy of Bev Harada
Chi Am Circle members, from left, Gerrye Wong, Sylvia Eng, Pearl Lee and Muriel Kao flank Larry Chu Sr. at the Jan. 31 event honoring the club’s 50th and Chef Chu’s 45th anniversaries.

Chef Chu’s restaurant in Los Altos ho...

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Comment

Freedom's just another word: No Shoes, Please

It used to be that the word “freedom” held exclusively positive connotations for me, but now it’s really become a mixed bag. It all started in 2001 when President George W. Bush asked the question he felt was on the minds of most Americans regarding ...

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Special Sections

Filoli in bloom: Historic estate hosts  classes, events and tours

Filoli in bloom: Historic estate hosts classes, events and tours


Ellie Van Houtte/Town Crier
Scenes from Filoli: The historic estate in Woodside is a welcoming sanctuary for visitors. The grounds offer a rotating display of seasonal flowers, a tranquil reflecting pool and paths that wend through the 16-acre Engl...

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Business

Stock volatility still confusing

The market opened down more than 100 points Friday but by noon rose more than 130, the form of volatility that quickly draws investors’ attention. By week’s end, the Standard & Poor’s 500 index and the Dow Jones industrial aver...

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Books

French novel

French novel "Hunting and Gathering" offers character-driven suspense


Anna Gavalda is a well-known author in her native France, where she has published six books, most of which have met with considerable praise and commercial success. Her fourth novel, “Hunting and Gathering” (Riverhead Books, 2007), is filled ...

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People

CHRIS A. KENISON

CHRIS A. KENISON

Feb 13, 1945-Feb 6, 2015

Resident of Los Altos

Chris was born in Georgia and moved to Oklahoma as a young child. He grew up there and moved to California in 1965. He developed a strong work ethic from his grandparents and parents. He attended the...

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Travel

Seoul of the city: Korean capital offers mix of old and new

Seoul of the city: Korean capital offers mix of old and new


Ramya Krishna/Special to the Town Crier
Seoul’s Cheonggyecheon public recreation space, above, features an elevated pedestrian bridge.

Seoul, South Korea, is a study in contrasts. Having grown quickly, the city is a mix of old and new.

Using...

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Stepping Out

'Park' in the hills

'Park' in the hills


courtesy of Foothill Music Theatre
Dot (Katie Nix) imagines her dream job as a follies dancer in the Foothill Music Theatre production of “Sunday in the Park with George.” The play runs through March 8.

Foothill Music Theatre’s production of “Su...

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Spiritual Life

Is your thought life sabotaging your spiritual journey?

My computer started having problems – there seemed to be some sort of malware running in the background. At first it was just annoying, then it began to slow down my computer, interfering with its basic operations. What is it doing? Why can...

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Magazine

Local events serve up family fun

Local events serve up family fun


Courtesy of Peninsula Youth Theatre
Peninsula Youth Theatre’s production of “Pecos Bill: A Tall Tale” is slated to open March 20 in Mountain View.

For families seeking a break from the daily routine, events abound this month and next in Los Alto...

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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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