Your old car has finally stopped working and you need new wheels. Or maybe you just want to upgrade to a newer model. Or your family is growing and it’s time to trade in the coupe for something more practical. What is your best option? Should you buy a car, or would it be better to lease a car?
There’s nothing like the feeling you get when buying a new car. Most teenagers can’t wait to get their driver’s license because having use of the family car means new freedom. However, cars are expensive, so when the time comes to buy your own car, chances are that you will have to take out a car loan, which is why it is important to understand how car loans and car loan interest rates work.
Congratulations! You’ve graduated to the next phase of Adulting 101: buying a car. This process isn’t wildly different from shopping for a home, but it does come with its own set of questions. Do you prefer used versus new? Style versus functionality? Speed versus comfort? Diesel versus gas? We’re not trying to be clever here (well, sometimes), but perhaps the easiest way to answer these questions is with additional puzzlers. For example…