Car financing denotes a means of getting a new car without purchasing it outright with cash. This may entail leasing a vehicle, which means you’ll drive a car for a set period of time and for a limited number of miles and pay only for the depreciation of the vehicle over that timeframe. It may also entail taking out a loan to cover the cost of the car, which you will pay over time, typically with added interest. In either situation, you’ll be making monthly payments.
Your financing avenue ultimately depends on your driving demands and financial situation. If you want to own the vehicle once your payments are complete, then traditional financing may be the best route for you. However, if you’re the type of Sarasota driver who enjoys driving new vehicles more often, then a lease may be your best bet.
It’s also important to note that leases typically require smaller down payments and carry lesser monthly fees, while you may have to pay more with traditional financing – for the ultimate reward of owning the vehicle, of course. Feel free to consult with the team at Cox Chevrolet if you’re having trouble deciding which type of car financing better suits you.
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