You have decided it is time to get a new car. Now you have to decide what kind of car you are looking for. Do you want a new car or a slightly used car? What kind of make and model do you want? What year do you want and what kind of special features are you looking for. You also have to decide if you are planning on leasing the car or buying it.
Many people are not quite sure what leasing a car is. It is basically like renting the car. You only pay for the car while you have it. Many lease agreements are for a set amount of time. When you buy a car, it is yours. You are free to do what you want with the car when the car is paid off. When the lease is over, you either return the car or decide to purchase it.
One of the first things that people see when they start looking at purchasing a car verses leasing one is the price. The down payment and monthly payment on a lease car is usually much less than the cost for purchasing the car. This is because at the end of the lease you return the car. With a car purchase, you receive the title at the end of the loan, so you can resell the car when you are ready to invest in a new one.
To read the rest of this article about Should You Lease or Buy Your Next Car, please see Akins Ford