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Buying or Leasing a Car - Which is Right for You?

Your car is getting older and you are looking to replace it with one of the newer models with the latest in automotive technology. You have done your research and have narrowed your search to a couple of possibilites. So, off to the auto dealer to test drive and see if you can take the car home. But, before you do that you need to decide whether you want to buy or lease your car. This is an important decision that can have an impact on your finances for many years.

When deciding on which course of action to follow you must answer a number of questions about your finances and driving style. For example, leasing a car is great for a business or for individuals that do not drive a great distance each year, plus the monthly payments on a leased vehicle is generally smaller than financing a purchase. On the other hand, if you do drive great distances each year you are not penalized on a loan. Also, at the end of the stated repayment period, on a loan the car is yours to keep and use as a trade in, while on a lease arrangement you need to turn the car back.

So, which is right for you? That is a question that you would need to answer yourself. Take a look at your situation and see which is better for you. To assist you in answering that question we have put together a number of helpful resources. Hopefully, this will make your next car buying decision an easier one.

Car Buying Basics

Car Leasing Basics

Benefits and Disadvantages of Buying a Car

Benefits and Disadvantages of Leasing a Car

Additional Resources

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