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Is It Better To Buy Or Lease a New Car?

Should you lease or buy your next car? You’ll always save by buying a used car and driving it as long as possible. But if you “have to have” a new car, there are pros and cons to both buying and leasing to consider.

How to finance a car (the smart way!)

Save serious money on auto financing by leveraging competing loan offers at the dealership, making at least a 20% down payment, and keeping the loan term as short as you can realistically manage. Oh, and — of course — don’t buy more car than you can truly afford.

How much should your down payment on a car be?

A solid down payment on a car is 20% for new, and 10% for used. Those percentages allow you to maximize all of the benefits of an auto loan (save on interest, boost credit, etc.) while freeing up cash to invest in other places.

Carvana: Is it worth it? Or is there a catch?

Through Carvana, you can purchase a high-quality, pre-owned car for a competitive price and have it delivered right to your door. But in 2022, the company’s shady philanthropy practices and uncertain future might be a turnoff.

Can you sell a financed car?

Technically no, you can’t sell a car you don’t legally own — at least not without notifying your finance provider. But once you do, and so long as you also tell the buyer, it is possible to work around it and legally sell a car that’s still on finance.