So you’ve done your research, narrowed down a vehicle, and you’re ready to buy a new car. All you need to do now is to narrow down the financial options. Financing a car can be tricky. We at Bill Seidle’s Nissan aim to make it a little easier with some finance tips, tricks, and hints to help you in this process.
After you pick out your dream car, there are some important decisions to make in terms of financing. Primarily, the three basic ways to finance include getting a loan, leasing, or paying in cash. Below is a breakdown of these options, including some pros and cons.
Loan
Most car buyers prefer to finance their vehicles through loans. You can use the dealership for quick financing, or you may also choose to finance through a bank.
This method requires you to make a moderate down payment and finance the rest of the cost. Loans can last several years depending on the sticker price of the car, and they also include added interest.
Lease
This method is similar to renting a car. You will have small monthly payments, and you will also pay little to nothing down as a deposit. While you are responsible for general upkeep, like oil changes and brakes, you do not pay extra for equity.
After your lease is up, you may extend it or get a new car. Leasing is great for those looking for the lowest monthly cost or for those looking to upgrade to a more expensive model without committing to expensive payments.
Cash
Finally, you can always pay with cash. This is often considered the best way to get a car, as you pay no interest and you own the car outright. However, due to the cost of a vehicle, many can’t afford to pay for everything upfront.
Have questions about financing? Call or stop by the finance department at Bill Seidle’s Nissan. Our expert team will find you the best options around!
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