Funding

Whenever you’re looking for *** new car, there are typically two options, buy it with *** traditional loan or lease it, which is why *** few of you have reached out asking what’s the difference between them. So let’s compare the two options with leasing. You won’t own the vehicle. It’s more like renting. That means you’ll have lower monthly payments compared to buying *** car. Most of the time the vehicle you’re leasing will still be covered by the manufacturer’s warranty. So you won’t be on the hook for expensive repairs. In some cases, your lease agreement may even cover basic and it’s like oil changes, but you’ll also likely have an early termination fee and mileage restrictions around 10 to 15,000 miles *** year. So if you know you’re gonna be driving more than that leasing, probably not right for you with buying and financing, you’re gonna have more expensive monthly payments since you’re buying the car outright and you’re on the hook for maintenance, but eventually your payments will end and you’re gonna have the car as an asset. You can sell it one day and make some of the money back just like any asset in your portfolio. If you plan to keep your car for *** long time, buying could be the better option financially. One last thing to think about is taxes depending on the state you live in. You may still have to pay taxes on leased vehicles. So make sure to factor that at your overall cost. And remember there’s always room to negotiate price whether you’re leasing or buying. Hope it helps if you at home have any questions for me. Email me any time Rawson responds at hurst.com email address right there on your screen back to you.