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Tuesday, January 31, 2023

Buying Advice 3: Lease or Buy a Car?

Here is part three of the buying and leasing series. May the following tips provide you with some much needed information in order to help you decide if you should either buy or lease a car.

Tip 1: Both buying and leasing will allow you to familiarize with the APR or interest rate. When buying a car, the amount will be amortized over an agreed loan term, together with the interest rate. Keep in mind that some loan agreements will require you to cope up with an interest rate that increases over the life of the loan. A fixed interest rate is the best offer. Not all lenders and car dealers will offer the same buying and leasing deal. It is then best to seek multiple free quotes in order to find the best leasing or financing deal that is right for your budget.

Tip 2: When leasing a car, keep in mind that you will have to be mindful about the amount of miles that you put in the car. Most lease deals will only allow you to reach a maximum of 15,000 miles each year. Remember that you will be charged a particular amount for each excess mile that you clock. Try to keep the mileage low and you will end up saving more for your car lease.

More leasing and buying tips coming soon. Find the car that you need by simply taking advantage of a free quote. Get price quotes for both new and used cars in order to find out how much money you can save.