New vehicles generally come with a pretty high price tag and many people will also pay to finance the cost of the vehicle over a number of years. Determining whether or not it is a good investment for you often depends on taking the time to do the research and make an informed decision.
The big difference between buying and leasing is that when you buy a vehicle, even on credit, by the time you finish making payments you will own the vehicle.
In addition, a loan-financed purchase may give you greater flexibility to deal with certain situations than a lease agreement does. One example might be if you come into some extra money and want to pay off your vehicle early. With a loan, you can pay out your obligations early, likely without a penalty. Another could be if you run into financial difficulties and cannot make your payments. If you have trouble making payments, you can arrange to sell the vehicle and pay off the loan.
However, there may be some drawbacks to a new vehicle purchase...
Before you decide on a vehicle...
Dealers are required to tell you about anything they know or should know about the vehicle that could reasonably affect your decision to buy.
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