What to Know Before Buying or Leasing Your Next Vehicle

There are a few things to consider when buying or leasing your next vehicle.

Are you buying or leasing the car?

About a quarter of all new vehicles are leased, but most are financed and some are paid in cash. What’s best for you will depend on your unique situation, so weigh all the variables first: interest rates, expected mileage, and maintenance.

Are you prepared to get the best deal possible?

There are a lot of aspects to getting the best deal you can on a new car, but a few of the most important are:

1. Timing: Buy in October, November, or December; that’s when you may get the best deals.

2. Reach out: Send an email to the dealer that you are ready to buy, outlining the exact deal you want, and really walking away from the lot when you’re not getting the deal you want.

3. Don’t forget to update your insurance: Depending on who will be driving the car, it will be important to call your insurer to update your coverage and explore your options. Gap coverage may be an option to consider or an umbrella policy if you’re not the only one in your household who will be driving.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2023 FMG Suite.