What Are the Differences Between Buying and Financing a Car?
Buying Vs. Financing a Car
As you begin your search for a new car, you’ll find that there are plenty of different ways to get behind the wheel of one. From buying or leasing a new car to financing it, you’ll find you have many options. What is the best option for you? Continue reading to find out what the differences are between buying and financing a car so you can make an informed decision when it comes time for you to decide which is right for you.
Buying a Car
Here, you’ll learn more about the benefits of buying a car so you can get a better understanding of what you can expect and how buying may be the best option for you.
- Don’t have to make a monthly payment (no car payment).
- Buying a car gives you an advantage when negotiating a deal.
- Buying a car can get you more discounts in the form of rebates.
- You won’t pay any interest, which saves you money over the long term.
- Buying a car helps prevent you from overspending on the vehicle you want.
Financing a Car
In this section, you’ll learn more about the benefits of financing a car and how this may be the best option for you.
- Financing a car can help increase your credit score.
- Financing a car allows you to pay less money every month.
- Financing a car can help you get lower interest rates through the dealership.
- The higher your down payment is, the smaller your monthly payment will be.
- Financing a car allows you to keep more of your money in the bank or in investments.
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Now that you know more about the differences between buying and financing a vehicle and their benefits, you should be able to make an informed decision the next time you need a newer and more reliable vehicle. If you have any questions about buying versus financing a car or are ready to buy, please contact us at Parkway Nissan of Stoney Creek and we’ll be happy to help answer any questions you may have.
[Visit: Our Finance Department]