Driving a vehicle with that new leather smell; there’s nothing like it. Finding the money to acquire a new set of wheels is another matter though. However, don’t despair because there are various ways to get your hands on a new car, SUV or truck that will make it more affordable. Many options spread the cost over the months and years for eager buyers.
Here are some of the ways to drive a new vehicle this year.
Leasing to Keep Costs Down
One way to drive off the lot with a new car this year is to lease one. There are different deals available depending on which brand of vehicle you prefer. If you show loyalty to a certain brand and qualify for the lease agreement, some dealerships offer to waive trade-in fees for older vehicles and/or include a generous waiver for additional wear and tear beyond what is considered normal.
With leasing, the upfront payments aren’t excessive. It can see you enjoying a new vehicle during the 2-3-year lease period. Leases typically include an agreed maximum mileage, which can be expanded when taking out the agreement. There’s usually guaranteed asset protection too. This covers any gap between the outstanding lease value and insurance paid on a vehicle that’s a write-off or has been stolen.
Financing a New Car
Check new cars for sale at Don Wessel Honda and you’ll discover financing the purchase is easy. Sure, your credit has to be reasonable without too much outstanding debt. But leasing also requires an approved credit rating too.
Many car buyers in the States use a loan because it takes too long to save up for a new car before buying it. It’s simply more convenient to buy the car of your dreams using an auto loan and repay it over an agreed number of years. Most dealers work with a financing arm. For instance, Honda uses Honda Financial Services to handle all the auto loan paperwork and approvals. A dealership can often get an answer on what loan you qualify for within a few minutes, to avoid keeping you waiting long.
By owning a vehicle, there’s no guaranteed asset protection to worry about like there is with leasing. This option is preferable for some buyers who prefer to own outright.
Military Discounts for U.S. Active Serving/Veterans
Many dealerships are keen to offer a discount to veterans. Qualifying factors include the length of service, the classification, e.g. E1, E5, etc., or whether you’re actively serving or a U.S. veteran.
The deals from each manufacturer differ, as do the terms of a veteran deal. If you’re still in active service or retired from the service, check whether there’s an option to get a discount on a new vehicle.
Beyond buying on credit or with a lease, is always possible to complete the purchase with a wire transfer if you have saved up the sticker price. While it would raise some eyebrows, your money is still good, and it demonstrates delayed gratification too.