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Credit Loan > Auto Loans > Auto Loans Or A Lease Both Have Advantages
While shopping for a new car, I was offered a lease as well as several auto loans as a way to get the car I wanted. I have never before had a lease on a car and I was not sure that it was as good a deal as many of the available low interest auto loans.
I decided to put my purchase on hold for a few days until I did enough research to feel comfortable in my decision. I have always been more in favor of getting auto loans in the past, but when I learned that a lease payment is so much less a month I had second thoughts.
The initial upfront cost is relatively the same for auto loans as it is for a lease. The one thing that draws me to auto loans over a lease is the fact that I do not really care if I drive a new car every couple of years, which is the best part of a lease. I just want my monthly expenses to remain manageable no matter what the economy does.
After many hours spent deliberating all of the pros and cons of both, I realized that I needed to talk to a friend. I have a lot of friends that have gotten both types of financing, so I went to dinner with one of them to get some feedback.
My friend recommended a lease over shopping for auto loans, but pointed out that automakers are currently offering some great incentives to buy. My friend also suggested looking into taking over a lease as an option. Apparently a person can avoid all of the upfront costs of a lease simply by assuming one from someone else.
All of this just made me more confused. I have now spent the last four days running each option over in my head and I am no closer to making a decision. So as it stands now I will just go to the dealership and make a decision when I get there.
If you are having the same dilemma as me you should definitely take the time to do all of the research, because there are so many options when it comes to auto loans and other types of financing. One way or another everyone shopping for a car can get some of the best deals right now.
Should I Buy or Lease a Car?
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I decided to put my purchase on hold for a few days until I did enough research to feel comfortable in my decision. I have always been more in favor of getting auto loans in the past, but when I learned that a lease payment is so much less a month I had second thoughts.
The initial upfront cost is relatively the same for auto loans as it is for a lease. The one thing that draws me to auto loans over a lease is the fact that I do not really care if I drive a new car every couple of years, which is the best part of a lease. I just want my monthly expenses to remain manageable no matter what the economy does.
After many hours spent deliberating all of the pros and cons of both, I realized that I needed to talk to a friend. I have a lot of friends that have gotten both types of financing, so I went to dinner with one of them to get some feedback.
My friend recommended a lease over shopping for auto loans, but pointed out that automakers are currently offering some great incentives to buy. My friend also suggested looking into taking over a lease as an option. Apparently a person can avoid all of the upfront costs of a lease simply by assuming one from someone else.
All of this just made me more confused. I have now spent the last four days running each option over in my head and I am no closer to making a decision. So as it stands now I will just go to the dealership and make a decision when I get there.
If you are having the same dilemma as me you should definitely take the time to do all of the research, because there are so many options when it comes to auto loans and other types of financing. One way or another everyone shopping for a car can get some of the best deals right now.
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