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      Is It Better to Buy or Lease a Car? It Depends.

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      The lowest overall cost is to buy a car and keep it for a long time. But leasing usually has lower monthly costs. And leasing an E.V. may come with a tax break.Most people have two options when they want a new car: buy it with a traditional loan or lease it.Either can make sense, depending on your personal situation.If you’re looking for the lowest overall cost over the longer term, buying a car with a loan, and then driving it for a while debt free after you finish making payments, is usually the best option.But if low monthly payments and a smaller down payment are a priority, a lease may be worth considering. And if you’re willing to try an electric vehicle or a plug-in hybrid, tax breaks available for leased models may make deals more affordable. Almost half of new E.V.s were acquired with leases in the second quarter of this year, up from around a fourth a year earlier, according to data from Experian.The Federal Reserve’s decision on Wednesday to cut its benchmark rate by half a point indirectly affects rates on car loans, which are also influenced by factors like the borrower’s credit score and the level of loan delinquencies. The average interest rate for a new-car loan in August was 7.1 percent, and 11.3 percent for a used-car loan, according to the automotive site Edmunds. “It will take a number of additional rate cuts before the cumulative effect becomes material for car buyers,” said Greg McBride, chief financial analyst at Bankrate.Paying cash for your car is, of course, interest free. But while car prices have eased somewhat, they remain high. The average transaction price in July was around $48,000 for a new car, and about $25,000 for a used car, according to Kelly Blue Book, part of Cox Automotive. Most people who buy a new automobile and many who buy one used get some kind of financing.With a traditional loan, you make a down payment and then pay off the debt with fixed monthly payments over time. (The average new-car loan term is about six years.) When the loan is repaid, you can keep the car and drive it payment free or trade it in and get credit for its value toward your next car purchase.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Makes Big Promises, With Little Detail, for Michigan’s Auto Industry

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      Two days after an apparent assassination attempt against him, former President Donald J. Trump showed few signs on Tuesday that he would shake up his approach to campaigning.At a town hall in Flint, Mich., for his first campaign event since the Sunday incident, he made grand promises to restore auto-making jobs to the state, the heart of the American auto industry, as he gave long-winded, often meandering responses to only a few questions.To the extent that Mr. Trump was focused, it was on repeatedly vowing that his tariffs would revitalize the auto industry in Michigan, a crucial battleground state, and that a Trump loss in November would be catastrophic — referring to such an outcome as a “tragedy.”Using the dire language he often uses to frame this election, he said if “we don’t win, there will be zero car jobs, manufacturing jobs.”“It will all be out of here,” he said.Speaking to thousands of supporters in the Dort Financial Arena in Flint, he also insisted vaguely that his tariff proposals would be enough to reverse a decades-long decline in the American auto industry and bring “so many auto plants” into the state if elected.Trump supporters outside the arena in Flint where Mr. Trump spoke.Doug Mills/The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Former Volkswagen Chief Executive Faces Trial in Emissions Case

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      Nine years after the carmaker admitted to concealing emissions on a massive scale, Martin Winterkorn will be tried in a German court.Almost nine years after Volkswagen admitted that it had rigged millions of cars to cheat on emissions tests, the company’s former chief executive went on trial Tuesday on charges stemming from the fraud, a vast corporate conspiracy that changed the auto industry.Martin Winterkorn, 77, who led Volkswagen from 2007 until he resigned under pressure in September 2015, appeared at a court in Braunschweig, Germany, after a judge rejected his pleas to postpone the trial because he said he was in poor health. The trial will be a test of whether German authorities can hold top executives accountable for wrongdoing that cost Volkswagen tens of billions of dollars and contributed to poor air quality in Europe and the United States.Mr. Winterkorn, who was once Germany’s highest-paid executive, faces criminal charges including fraud, market manipulation and making false statements. Prosecutors accused him of failing to notify authorities and owners of Volkswagen cars when, in 2014, he became aware of software designed to illegally cloak emissions that exceeded limits imposed by European and U.S. regulators.With Mr. Winterkorn’s knowledge, prosecutors said, Volkswagen continued to sell such vehicles until the cheating was exposed by California regulators and the Environmental Protection Agency in 2015. Over a decade, Volkswagen and its Audi, Skoda and Seat units sold nine million cars with the illicit software.Prosecutors have also accused Mr. Winterkorn of authorizing a recall of the affected vehicles in 2014 with the purpose of preventing regulators from learning about the forbidden software. And he is accused of lying under oath to a German parliamentary committee investigating the cheating.The market manipulation charge arises from allegations that Mr. Winterkorn failed to notify Volkswagen shareholders of the financial risk posed by the software as required by securities law.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Assessing JD Vance’s Appeals to the Middle Class on the Campaign Trail

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      The Republican vice-presidential nominee has assailed Vice President Kamala Harris’s policies and positions with inaccurate claims.JD Vance, the Republican vice-presidential nominee who rose to fame detailing his Appalachian roots in a best-selling memoir, has made appeals to working-class and middle-class voters a core tenet of his campaign messaging.In rallies and interviews, Mr. Vance has sought to portray the Republican ticket as a champion of everyday people, first-time home buyers and autoworkers by misleadingly describing Vice President Kamala Harris’s policies and positions on housing, trade and manufacturing.Here’s a fact check of some of his claims.What Was Said“Kamala Harris let in 20 million illegal aliens to compete with Americans for scarce homes.”— in a local news interview in AugustThis is exaggerated. Economists and real estate experts say that while migration, including illegal immigration, has contributed to population growth and thus demand for housing, it is not a main driver of the country’s housing affordability crisis. A lack of supply is the primary culprit, they said.Daryl Fairweather, the chief economist at the online real estate brokerage Redfin, said Mr. Vance’s claim “ignores the root causes of the housing shortage, which is that we just stopped building homes, especially in places where people want to live the most, and don’t really need to talk about immigration to talk about that problem.”After the Great Recession, the number of new homes built annually plummeted and never really recovered in the two decades that followed. As a result, researchers and real estate firms now estimate a nationwide shortage of 1.5 million to seven million housing units.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Floats I.V.F. Coverage Mandate While Campaigning in Michigan

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      The week after Democrats spent much of their national convention attacking him over his position on abortion rights and reproductive health, former President Donald J. Trump said on Thursday that he would require insurance companies or the federal government to pay for all costs associated with in vitro fertilization treatments if he is elected in November.Mr. Trump’s announcement — made in an NBC interview, a speech in Michigan and a town hall in Wisconsin — came with little detail about his proposal or how he might address its cost. For one cycle, the treatments can cost up to $20,000 or more. But he has been trying to rebrand himself to voters on reproductive access and abortion rights, issues that have cost Republicans at the ballot box.Mr. Trump, who often on the campaign trail has bragged about his role in appointing Supreme Court justices who voted to overturn Roe v. Wade, last week on social media declared that his administration “will be great for women and their reproductive rights,” a phrase used by abortion-rights advocates.The post appeared to be an effort by Mr. Trump to cast himself as more of a political moderate on abortion, an issue that could hurt him in November.On Thursday, Vice President Kamala Harris’s campaign accused Mr. Trump of trying to run from his record on abortion access.“Trump lies as much if not more than he breathes, but voters aren’t stupid,” Sarafina Chitika, a spokeswoman for the Harris campaign, said in a statement. “Because Trump overturned Roe v. Wade, I.V.F. is already under attack and women’s freedoms have been ripped away in states across the country.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Tim Walz and the Pull of Rural America

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      More from our inbox:A Rattled Donald TrumpCancer Screenings Save Lives and Are Worth the CostFrom Rust to Rescue HeroAn Olympic Transit Reality Check Abbie Parr/Associated PressTo the Editor:Re “Democrats Have Needed Someone Like Walz for Decades,” by Sarah Smarsh (Opinion guest essay, Aug. 9):Thank you for publishing Ms. Smarsh’s article, which so eloquently and succinctly illustrates how politicians, pundits and journalists have marginalized rural America by lumping us into a single category: red state.I am from a long line of early Indiana settlers: hard-working people who began as farmers and maintained honest lives while supporting democratic ideals and the Democratic Party. Reading this piece is a breath of fresh air, and I appreciate that Ms. Smarsh shares our appreciation for the honesty and direct communication of a fine person like Tim Walz. Thank you, Minnesota.Diana WannLebanon, Ind.To the Editor:Having grown up in a small town in Minnesota, I agree with Sarah Smarsh that Gov. Tim Walz brings back some essential elements into our politics.I am only a few generations removed from Norwegian immigrants who came to America and helped settle an area near the South Dakota border in the last decades of the 19th century.The effort to tame and harvest the prairie created a very pragmatic “let’s get it done and move on to other things” philosophy. Many of the older farmers I remember would describe today’s political rhetoric as “bells and whistles, but no engine.”Mr. Walz is not only a refreshing relief from much of the mindless political rhetoric we have to listen to today. He may very well also be putting the engine back on our national economy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Four Arrested in Killing of ‘General Hospital’ Actor

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      The police said they arrested three men on murder charges in the fatal May 25 shooting of Johnny Wactor, 37, in Los Angeles. A fourth person was also charged.The authorities have arrested four men in the killing of “General Hospital” actor Johnny Wactor, who was shot dead in May as three men attempted to steal the catalytic converter from his vehicle in downtown Los Angeles.The Los Angeles Police Department on Thursday announced the arrests of Robert Barceleau, Leonel Gutierrez and Sergio Estrada. All three men are 18 and from Los Angeles County. They will face murder charges.They were arrested Thursday and were being held on $2 million bond, jail records show. A fourth man, Frank Olano, 22, was arrested on an accessory charge for helping at least one of the suspects evade the authorities.Mr. Wactor was gunned down at around 3:25 a.m. on May 25 when he returned to his parked vehicle after finishing a shift at a downtown Los Angeles bar where he worked. The 37-year-old came across three men who were in the middle of stealing his car’s catalytic converter.“When Wactor arrived at his vehicle, he was confronted by three individuals who had Wactor’s vehicle raised up with a floor jack and were in the process of stealing the catalytic converter,” the police said. “Without provocation, the victim was shot by one of the individuals.”The actor was walking with a co-worker and initially thought that his car was being towed, his mother, Scarlett Wactor, told ABC7 news.She added that one of the persons “looked up, he was wearing a mask, and opened fire.”Mr. Wactor was transported to the hospital by emergency workers where he was pronounced dead.The three men were able to get away in a stolen sedan, the police said in August.Mr. Wactor was known for appearing in more than 160 episodes of the soap opera “General Hospital” as the character Brando Corbin. He also appeared in other shows, including “Westworld” and in one episode of “Criminal Minds,” according to IMDb.Catalytic converter thefts have become more common across America in recent years.The emissions-control devices contain rare and expensive metals like palladium and rhodium, making them a hot target for thieves.In a Thursday evening phone call, Ms. Wactor said she was glad to hear that the arrests had been made and said she hoped the men are convicted.“It’s a great early birthday present for Johnny,” Ms. Wactor said.Her son, she said, would have been 38 on Aug. 31. More

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      Elon Musk Says Robotaxis Are Tesla’s Future. Experts Have Doubts.

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      Tesla says self-driving taxis will power its growth, but the company hasn’t said when such a service would be ready or how much it would increase profits.As sales of its electric cars have fallen, Tesla and its chief executive, Elon Musk, have sought to convince Wall Street that the company’s future lies not in the grinding business of making and selling cars but in the far more exciting world of artificial intelligence.In Mr. Musk’s telling, one of Tesla’s main A.I.-based businesses will be driverless taxis, or robotaxis, that can operate pretty much anywhere and in any condition. Tesla is very close to perfecting such vehicles and will easily secure regulatory approval to put them on roads, Mr. Musk said last week on a conference call to discuss the company’s second quarter results.Mr. Musk’s vision of autonomous vehicles, or A.V.s, is not limited to cars that drive themselves. He has also claimed that individuals who buy Teslas would be able to make money when they are asleep or at work by letting the company use their cars as robotaxis.The robotaxi service will, Mr. Musk has said, catapult Tesla’s stock market valuation, around $700 billion now, into the trillions of dollars.But first, a lot will have to go right.His idea would require major advances in technology and fundamental changes in the way people view cars. The experience of driverless taxi services like Waymo and Cruise in Phoenix, San Francisco and other cities raises questions about when such offerings will become profitable and how much money they will make.Tesla’s technology will face stiff competition from Waymo, a subsidiary of Alphabet, the parent company of Google; ride-hailing services like Uber and Lyft; and Amazon’s self-driving business Zoox. Carmakers including General Motors, which owns Cruise, are also pursuing autonomous driving, along with Chinese tech and auto companies like Baidu and BYD.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More