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New or Certified Pre-Owned Cars – Which Makes More Financial Sense?

We all know that there are many sources for used cars on the market today. From classified ads in your local newspaper to advertisements in car magazines, you can find a used vehicle in almost every area where you live. And buying used doesn’t necessarily mean you’re buying a bad car. Used cars are available from many different sources. Whether you want to find a reliable used vehicle that will last you and your family for years to come, or you’re looking for a great deal on a new vehicle you won’t be disappointed with, there are many options available to you.

Leasing a used cars might be the best way for you to go. With a lease on a vehicle you pay less money upfront but you own the car. Most leases last between six months to 1 year, which means you pay much less for the car and much more for the lease than you would for a new car. Another benefit of leasing a used car is that you can drive it home as soon as you get it. New cars can take anywhere from three to eight months to reach their destination before they have to be towed, repaired or replaced. A lease gives you the freedom to drive the vehicle whenever you want.
The good news about leasing a used car is that most major car manufacturers now offer a leasing program through which consumers can rent a car on a monthly basis. In most cases you can select the car you want, the vehicle make, model and year and the number of miles allowed. You can obtain a Car Fax from the dealership to keep track of the leasing information. This information includes your name, address, phone number and license number. The leasing terms vary by company, so it’s important to read through the contract carefully. However, you should at least familiarize yourself with the basics of the agreement.
When you buy a new vehicle you will be paying cash for the vehicle you choose. This means you will need to have enough funds in your pocket to cover the full cost of the vehicle including its new purchase price plus any applicable sales tax and insurance. With leasing used cars you will be required to pay lower monthly payments that include lower interest rates, no deductibles and most times with no finance charges. You can obtain a better price on your vehicle when you lease a vehicle compared to buying from a dealership or the bank.
Leasing a used cars gives you a lot of flexibility because you can select the vehicle you want at any time. The downside to leasing is that many dealerships insist that the vehicle is used before they will consider financing. Some dealerships may also try to charge you too much money up front. This can be a problem because you may not be able to find a dealer willing to provide the financing you need to buy the vehicle. There are many dealerships that will finance the vehicle but you may need to shop around for a dealer who will approve your loan.
It is always a good idea to get a CPO from a dealership. This is because the Certified Pre-Owned Vehicles also come with a warranty that covers a wide array of damages. You will be able to get repairs done to the vehicle at no cost to you and will not be responsible for any repairs or fees that occur during the warranty period. When you purchase a certified pre-owned vehicles, it is better to pay down the balance before purchasing the vehicle because it is less expensive to finance than a new vehicle. You can get the loan you need to pay for the vehicle and pay off your loan and not finance the vehicle until you pay off the balance.