BUYING
Who Owns It
A lot of people prefer buying because it gives you the advantage of keeping hold of your car because you'll own it outright once your payments are done. If you're financing your vehicle, you will have to meet the necessary requirements - including a certain down payment amount and timely monthly payments.
Mileage
Buying is usually a better option if you are likely to drive a high number of miles every year. When you buy your vehicle, there are no mileage restrictions.
Up-front Costs
When you're financing a vehicle, you're typically expected to pay a larger down payment than if you were leasing. The amount of the required down payment depends on the price of the vehicle you're buying, the lender, and your credit score as well as other factors.
Future Value
When you buy a vehicle, you're able to resell it in the future. However, it's worth depends on how well you maintain it. You'll usually get a higher resale value with regularly scheduled maintenance visits at a factory authorized facility.
End of Payments
After you've finished paying off what you owe, you own your vehicle. Next, the lender will send you the official title and a Lien Release as proof that the vehicle is completely paid off and all yours.
