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When it comes to getting a new car, you have two options – buying it or leasing it. And, according to recent statistics, leasing is becoming an increasingly popular option, with over 30% of Americans choosing this option over buying.

Financing a New Car – Should You Buy or Lease?

However, both of these choices come with their advantages and disadvantages, and we’ll explore these below:

Should You Buy Your Next Car?

If you’ve always bought your cars outright, you’ll have enjoyed the fact you can keep them for as long as you want and can trade or sell them when the time’s right for you. You’ll have probably enjoyed that feeling of ownership too. Equally, if you’re one of the many who’s used an auto loan to finance your new car purchase, you’ll have basked in that feeling of finally paying off the loan and the car being yours.

When you buy a car, you put equity into it, which is your down payment. In contrast, when you lease a car, the money you’re putting into it (which could be thousands of dollars), provides you with zero equity. And, even though you may be paying for the car on a monthly basis, you’re gaining increasing amounts of equity as you do this. Then, once your loan term expires, you have full ownership of the car, which could amount to several thousand dollars, if not more.

Once you’ve done this, you’ll have the peace of mind that you’re driving around in a debt-free vehicle, which you can continue to enjoy or you can use to put towards a new car. And that’s not to mention the fact that you can modify the car in any way you want and aren’t hit with charges if the car has a high mileage.

Nevertheless, there are some downsides to ownership, and a lot of this is found in the responsibility you have for the repairs and maintenance of your vehicle – which can start to add up. However, this might be a risk worth taking, particularly if you have a warranty on the vehicle which runs out at the exact same time as your loan payments do. Because you’re not paying your monthly loan fees anymore, you’ll have extra cash to carry out any necessary repairs.

Furthermore, you’ll often find that the majority of new vehicles on the road today are incredibly reliable, which makes the risk factor much lower. And, if you are concerned about the financial costs involved in fixing your car or truck, you could always weigh up the advantages of taking out a longer warranty.

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For those with smaller budgets, a big vehicle may feel out of reach, even if it is greatly needed. Large families, small businesses, big dog owners – there are a multitude of reasons for requiring a bigger car, so how do you afford to get what you really want when you’re counting the pennies? Here are a few great routes to take:

How to Afford a Car You Really Want

Lease your vehicle

Leasing a car might feel like a strange concept to some, but in the long run it works out to be a much more economic means of obtaining a vehicle. Not only can you get your hands on a big car for an easily affordable monthly rental price, you also don’t need to worry about depreciation when it comes to selling the vehicle on.

This means you can get your hands on that SUV or even the latest Range Rover comfortably. You do need to carefully consider your annual mileage and any wear and tear to the car – exceeding agreed mileage and any damage may require further expense when your lease is up.

Personal loan

If you want to purchase your vehicle outright, a personal loan is another option to consider but it’s very important you seek out a loan product offering the best deal in terms of interest over time. It’s likely you will pay more than the car is worth when interest is added. for many paying back a loan on a monthly basis is more affordable and achievable than saving up the full amount for a brand new, big car. For many, using savings and a personal loan is an affordable way to buy a bigger car on a budget.

But, for many paying back a loan on a monthly basis is more affordable and achievable than saving up the full amount for a brand new, big car. Using savings and a personal loan is an affordable way to buy a bigger car on a budget.

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Although the weather outside might not seem like it, summer is just around the corner and people are already starting to book summer travel plans. Planning a summer vacation for your family this far in advance offers many benefits including steep discounts from industries that are unsure what their summer capacities will look like (such as cruise lines), access to the best accommodations before they’re fully booked, and cheaper airfare prices. Another option that you might want to consider is staying at an all inclusive resort. But, what does all inclusive resort mean?

If you’re under a considerable amount of stress from work or life in general and don’t feel like mapping out every aspect of your summer travel plans, then staying at an all inclusive resort might be a viable option. They’re not as perfect as the advertisements try to portray, but they can help you save time and money on your next vacation. Continue reading to learn more about all inclusive resorts to determine if they’re right for your travel goals.

What Does All Inclusive Resort Mean?

Little Time for Planning? No Problem.

If you have very little time in between work and family to plan out an entire vacation, then an all-inclusive resort could help you focus on more immediate concerns without sacrificing a fun experience later on. As implied by the “all-inclusive” description, you won’t have to look around for places to eat and things to do at your destination because most of that will already be covered and readily available for you.

For some folks, this is one of the best ways to stretch your travel budget because you already know what the cost will be upfront, rather than arriving at your vacation spot and discovering new (and expensive) restaurants and activities you’d like to try.

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