BEST FINANCE OPTION FOR CAR LOAN
It’s time for a new car and you’re a bit lost as to which option makes most financial sense?
We’re here to help! First, You need to consider your needs, financial means and lifestyle in order to choose the best option for you. Ask yourself: What kind of car do you want? How often do you plan on replacing it? Can you commit to a minimum of 3 years in the U.S.? Do you require unlimited mileage?
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Here are some useful tips that can help you figure out the best option for you.
Leasing a car is similar to taking out a high-interest loan. You pay the difference between the car price today and the car’s expected value at the end of the lease, plus interest.
The benefits are lower monthly payments and a new car every 2-3 years!
The downsides? Your mileage is limited, there are penalties on excess wear & tear, as well as penalties for early termination of your lease (quite problematic for foreigners who are only in the U.S. for a certain period of time). As an international student, it is also important for you to know that qualifying for a car lease is not easy. Not all visa types give their holders eligibility for car lease and regardless, without a pay-stub you will likely be disqualified for a lease. Even if you do qualify for a car lease, in the long run a lease is actually far more expensive since the interest is pretty high and you keep leasing one car after the other.
What about buying a car? Yes, monthly payments are potentially higher and as time goes by, the value of the vehicle depreciates. But unlike lease where you don’t actually own the car, when you are done paying installments on your loan, the car is yours and you can sell it to return some of your original investment. Take into consideration that when you actually buy a car you can often get special deals, like attractive end of year offers, or manufacturer discounts.
You can also buy a used car or a certified pre-owned car, so depreciation will not be significant. In fact, taking a loan to buy a used car is probably the most cost-effective option out there!
Want to learn more? Need some additional advice? CONTACT US AT PANAUTO MIAMI, where we provide attractive financing solutions for internationals.
SAFELY AND INDEPENDENTLY CHECK THE QUALIFICATION OF YOUR CREDIT HISTORY
ADVANTAGES of buying with PANAUTO MIAMI:
- - WHOLESALE PRICES
- - ONLY THE BEST SERVICE. 5 STARS – GOOGLE, FACEBOOK, DEALRATER
- - 8 YEARS OF EXPERIENCE IN LEASING AND CREDIT FOR EMIGRANTS
- - ACCESS TO PROGRAMS OF MORE THAN 20 MOST POPULAR CAR MANUFACTURERS
