When it comes time to drive off a new car, you have three basic options:
But with the average price of a new car at almost $41,000, most drivers today are driving off the lot with either an auto loan or a lease.
❓ But which is better - an car lease or an auto loan?
What are the costs that go with each?
And how do you know if you're making the best financial decision when it comes to driving your next car?
Is there something we are missing when comparing the two?
Today on the show, I will compare the auto loan and car lease, so you can decide which is the best way to drive off the lot in a new car.
But, to start off, the simplest way to separate an auto loan and a lease is by understanding that an auto lease allows you to DRIVE the new car, whereas an auto loan allows you to DRIVE and BUY the car.
❗ ❗ Of course there’s a lot more to it and to tell the whole story let’s jump right in.
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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!
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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011.
If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.
All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session171
EP173: What is a Health Savings Account?
EP172: Help! I Have IRS Problems - What Are My Rights?
EP170: How Does a Cash-Out Refi Work and is it Right for Me?
EP169: What is "Infinite Banking" and is it a Scam?
EP168: Building Wealth through Multifamily Real Estate Investing with Gino Barbaro
EP167: How to Create Digital Cash Envelopes with Ryan Clark
EP166: How to Open a Brokerage Account
EP165: Passive Income via Hard Money Lending
EP164: What is the BEST Mortgage For Me Right Now?
EP163: Financial Independence in Her 30s with Diania Merriam
EP162: How Does a HELOC Work and Is It Right for Me?
EP161: The 50/30/20 Budget For Those Who Like Simple
EP160: The Most Important Part of Your Money You Aren't Doing Right
EP159: Should I Buy a New Car? (The REAL Costs Broken Down)
EP158: How to Finally STOP Living Paycheck to Paycheck
EP157: How to Use Profit First in Your Biz or Side Hustle
EP156: How I'm Picking Winning Stocks that Beat the Market
EP155: The 4 BEST Retirement Investment Accounts in 2021
EP154: How to Get Started Investing in 2021
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