Weigh the pros and cons of financing a new vehicle versus leasing, and learn how to recognize a good lease deal.
When financing, the buyer pays the entire cost of the vehicle over the course of the loan. Leasing is a different—and slightly more complex—process wherein the lessee pays the difference between the sale price of the vehicle and the vehicle's depreciated value over the term of the lease. Both methods will have some sort of interest element, but that depends on the interest rate set by the lender.
"Leasing offers a lower payment than traditional financing. If you were to take the total of lease payments over three years and the total three-year cost of financing the vehicle, you can see the advantage," he said."With the current steep trend of new-car devaluation, leasing offers no risk, as it is not your car."
Manufacturer and dealer websites are excellent sources of up-to-date lease deals. However, be aware of deceitful dealer advertisements that promise low monthly payments, because, as Carlease's Basich points out, those promotions leave out numerous fees and taxes that can significantly increase your actual payment. Plus, those ads usually refer to base models without the most desirable options and with low mileage limits.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
People on TikTok Are Frothing Their Beauty Products. But, Like, Why?Experts weigh in on whether this hack is helpful or just plain silly.
Leer más »
Probiotics for vaginal health: Benefits, safety and risksIs it safe to use probiotics for vaginal health? Our experts weigh in on the potential benefits and risks
Leer más »
The Best Car Wax for White Cars of 2022 (Review) - Autoblog Commerce | AutoblogPick up a top-notch car wax for white cars to restore your vehicle’s beauty, and check out our buying guide to learn more while you’re at it.
Leer más »
Ford Won't Let You Buy Your Leased EV When the Contract EndsEffective June 15, Ford removed the buyout option for customers leasing EVs such as the Mustang Mach-E and F-150 Lightning.
Leer más »