For more Details, Call us Toll-Free • 1-888-908-1884 USA

Auto Finance – The Dilemma

When buying a car think about your options carefully, Otherwise you will find yourself in a dillema when selecting a financial plan that will suit and benefit you in the long run.  The Internet is full of great tips on how to save money, how to get a loan, lease or anything else related to buying a car.

But, let’s start from the beginning.

You want a new car.

Your plan should not be to walk into a dealership and simply open your wallet.  So, you need a plan on how to finance your car. The first thing you need to understand is your choices.  And those choices are as follows:

  1. Lending Institution like Unify Lenders
  2. Bank Loan
  3. Dealership Loan
  4. Credit Unions Loan
  5. Lease Agreement.

Making the Decision.

Lease Agreement

First of all, let’s face it, the lease is not a good idea. Why not? You are paying your car for, let’s say, 3 to 5 years, just to drive it. So, you do not have a car, you have a rented car. When the lease expires, you are left with two options: either to return the car and lose all the money, or the other option which is more accepted by people who use a lease to buy a car, and that is to rebuy it from the Leasing agency. That means spending a lot of money in the end of your leasing period, just to buy the car that you have already been paying for years. Of course, sometimes to lease a car it’s not such a bad idea, but consider all the aspects of your financial plan when thinking about it.

Loans.

You can get a loan from the bank, credit unions or you can walk into the dealership house, choose a car and choose their financial loan plan. Which is a better option? Beware of dealerships loans. In the end, they will cost you more than the bank loan.  Choose a loan from a bank or some credit union house, check out rates at traditional banks and online-only car lenders. Also, you can join www.UnifyLenders.com and check out their deals and ways to save the extra money.  The next question is, what is really a loan, what kind of a loan is the best for you and how to calculate your perfect financial plan.  All of that we will discuss in the next chapter, Auto Finance –Loans.