Buying a car.docx - Buying a car Buying a car is the first...

  • No School
  • AA 1
  • 2

This preview shows page 1 - 2 out of 2 pages.

Buying a car Buying a car is the first major purchase for many people, particularly young adults. If you're new to the credit and financing world, pump the brakes and pull over to check out these 6 tips you should know before buying your first car. 1. Avoid a Car Lease When you go to a car dealership, the salesman will probably show you some models that are way out of your price range. It's the nature of their job to upsell customers, so they'll try to explain why leasing rather than buying makes good financial sense. Leasing always sounds tempting—especially since it has a lower monthly cost than buying a new vehicle—but it's generally more expensive in the long run. You still have to pay for regular maintenance on a leased vehicle, and the dealership can charge you fees if the car comes back damaged or with excess mileage. Plus, after the lease is over, there's no asset to show for the thousands of dollars you've spent. Unless you'll only need the car for a couple years and can deduct your mileage as a business expense, buying tends to be the better option.
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Fall '19
  • Debt, Sales, Automobile, Car dealership, Kelley Blue Book

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes