Whether it's your first time buying a car or your 100th, figuring out how to pay for it can be intimidating. Endless research into finding the perfect car could be wasted if you don't plan ahead financially. K&R Auto Sales in Auburn, ME, can help you find a solution that fits your budgetary needs.

Why Should You Finance Your Vehicle?

Not many Portland, ME, buyers can afford to pay cash for a new or used car. Financing a vehicle can ease the pressure by allowing you to pay in increments over time, rather than all in one lump sum.

Making these recurring payments on time will help Lewiston, ME, drivers build up their credit. With good credit, it's easier to secure future home loans or car loans.

Should You Finance or Lease?

There are two main ways to acquire a car: financing or leasing. It's important for Augusta, ME, drivers to understand the pros and cons of each method before deciding how they should move forward.

Financing: Pros & Cons

When you finance a car, you are paying to own the vehicle entirely. You can drive as many miles as you like and modify the car, truck, or SUV as you see fit. Brunswick, ME, drivers who finance a vehicle will eventually be able to trade, sell, or gift it.

There are downsides to financing. Some maintenance issues might not be covered under your warranty, so you could face costly repairs. You may also have a higher interest rate, depending on your credit. But K&R Auto Sales is ready and committed to helping all our customers secure an affordable payment plan, regardless of their credit standing.

Leasing: Pros & Cons

Leasing is a little more complicated because you don't own the vehicle. You only pay for the time you drive the car, truck, or SUV, instead of its full price. There are a lot of pros to this option.

Auburn, ME, drivers will make lower monthly payments with a lease, and they're protected against the inevitable depreciation that occurs with a new car. They'll also pay less for repairs on a leased vehicle because it will remain under the factory warranty for the duration of the lease.

Contact K&R Auto Sales Near Portland, ME, Today!

Our team will happily help any Brunswick, ME, drivers learn more about their lease and financing options. Give us a call or check out our online car loan calculator. We'll help you acquire the car you desire in no time!

Categories: News, Finance, Service