LEASE OR BUY– WHAT’S BEST FOR YOU?
You’re ready to buy a new car. You’ve got the make and model picked out, you’ve taken a test drive and now it’s down to the financial details. Should you buy or lease? Ask yourself the following five questions to help make the decision that’s right for you.
BUY OUT YOUR LEASE
If you buy out your lease you’ll have to pay the agreed upon buy-out price on your contract, or set up a financing plan with your dealer for the remainder of the vehicle’s cost. This is a good plan if the vehicle still meets your needs, and it can remove any worry about extra mileage or excess wear costs. Just like the vehicle selection process, choosing the payment option that works best for you requires research and planning. Be aware of the fine print and don’t be afraid to ask – getting the best deal possible might require some digging. Ask your dealer about any added incentives or additional discounts available for each of your options. Approach this decision like any long-term agreement; arm yourself with the required knowledge to ensure you are making the best choice, both for today and the road ahead.