When you’re in the market to get a new vehicle, you usually have a few options. Some of the options include: leasing new, buying new, or buying used. Each of those options have different benefits and some important considerations. Leasing can be a great choice if you want to switch cars every 2-4 years and enjoy a traditionally lower car payment than buying a new vehicle. Deciding to buy a new vehicle could be a good choice if you plan to keep the vehicle for a longer length of time or if you would like to own your car outright at some point. If newness isn’t a concern and you’d like to get a vehicle at a discount, then buying used may be the option for you.
The latest installment of Wallet Watch, titled “Leasing vs. Buying” is all about weighing your different options when you’re in the market for another vehicle. Would you prefer a new car? Do you drive a lot of miles each year? Do you plan to pass this car on? Will you keep this vehicle for a while? To help talk about these considerations, the Wallet Watch team has brought in an expert, Stephanie, who is the Lending Relations Manager at MSUFCU with a wealth of knowledge on both leasing and buying.
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