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How to Finance Your Vehicle

When Hutchinson drivers find a car, truck or SUV that suits their needs, the next question is, “how do I pay for it?” There are several ways to go about choosing a new car, but the first step is to apply for a loan either at the dealership, a bank of your choice, or another financial institution. Typically, there are two types of financing arrangements: leasing and buying. Let’s examine the two so you can pick the best choice for your credit and financial situation!

Leasing a Car

When you lease a car in the Nickerson and Buhler area, you’re paying to drive a new vehicle — not to own it. There are regular monthly payments to be made for a certain period of time and/or the number of miles driven. At the end of the lease period, you’ll either return the vehicle to the dealership or if your lease agreement allows, you may “buy out” your lease for a predetermined amount if you want to keep the car. Some benefits include:

  • Smaller down payment
  • Monthly payments are generally lower
  • Warranty coverage of repairs
  • Potential of driving a new vehicle every few years

Financing a Vehicle

If your decision is to buy a vehicle rather than to lease it, you will have to apply for financing from either the dealership or a local bank. Unlike a lease, you are making payments to finally own your car, truck or SUV and once you have completed your payments - the vehicle is yours. There are also no mileage considerations to take into account. Some benefits of buying include:

  •  Ownership at end of the payment period
  •  Able to modify vehicle without fear of breaking contract
  •  No mileage limits
  •  Can sell or trade-in car after it’s paid off

Should I Lease or Buy?

There are many reasons to either lease or buy your new vehicle and the decision rests on your own personal financial circumstances. For either method, you should do your homework and research the costs of each option so you can make an informed decision. Feel free to contact us at any time with any questions you may have about the process. The Allen Samuels CDJR Financing team is standing by waiting to help make your dream car a reality.

Apply for Financing Today at Allen Samuels CDJR Today!

If you’ve done your research already, then start your online application today over at our Finance Center where you’ll find an online payment calculator to help you determine your monthly payments. We look forward to working with you to find the best lease or loan option for your new ride.