Lease Or Loan? It's Up To You

Are you in the market for a new or used car, but aren't sure which financing route is right for you? One of the things to take into account if you decide to take out a loan for a new or used car is your individual budget. It is important to repay your loan or lease on time so that you don’t lose out.

If you decide to lease your car because it is potentially a lower monthly payment, make sure you read the small print because many contracts are very strict about the mileage overages. Plus, with leasing you can only opt for a new car, never a used one.

A car loan can be arranged quickly and should not be a problem as long as your credit history permits it, and in the end, you will have the car to pass on to a family member or to sell. Buying can also pertain to used vehicles as well, which could be more cost-effective for your budget. However, leasing doesn’t allow this kind of flexibility, so it depends on your necessity and preference.

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