Buy, Lease, or Own:

Affordably Owning a Vehicle in an Uncertain Economy

With uncertain financial times ahead of us, many people are opting to keep their current vehicle rather than take on a new car bill.  Keeping your current car can be a smart and affordable way to help manage your expenses while maintaining your ability to get around.

While public transportation might be the most affordable method for transportation it just isn’t an option for many.  In most areas, mass transportation is only available in the city.  And when they do, they are a dubbed a “park and ride”, meaning you drive to the bus stop. This means that if you live in the suburbs you almost definitely need a vehicle.

In recent weeks, as a matter of public health, many public transportation authorities are being forced to cut the number of buses or train rides offered.  Which now makes it difficult for people who typically could utilize public transportation to rely on it.

Leasing a Car

If you want the luxury of a new car without the big price tag, leasing a car can be a more affordable way to go.  However, if or when things do get a bit tight financially, you still have the monthly burden of a car payment.  Before signing a lease, carefully read through the contract and talk to the finance specialist at the dealership to make sure options like deferring a month’s payment are included.

Buying a Used Car

If you don’t yet have a car, this can be one of the most affordable methods of getting one.  Be sure to purchase the vehicle through a reputable dealer.  Also, do your research on the actual vehicle you are considering purchasing to determine whether it has been in previous accidents.  Do your research to find out what this car should cost for the age and mileage that is has on it.  And lastly, make sure you fully understand the terms of the sales agreement.

Keeping your Clunker

If you do have a vehicle, keeping it running is the most affordable and safe option in this uncertain market.  Regardless of whether your car is a clunker or in great shape, investing in your car now can keep it on the road for many miles to come.  Simple routine maintenance is the most assured way of spotting potential problems before they happen and keeping repair bills low.

Is your car making a noise?  Does it have a certain smell when you turn the engine over?  Are you worried about a potential problem or need to have something fixed?  Give us a call and let our staff help you keep your car in tip top shape…and your wallet too!

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