So you’re ready to buy a new car. That’s great, but first you need to figure out how you should go about paying for that car. Traditionally, there are three ways to do so: cash, lease or financing. There are advantages and disadvantages to each, and the right choice will depend on several different factors.
When it comes time to look for a new car, there are a lot of thoughts that tend to enter the mind first: which car to get, what color, how much fun it would be to own. But the most important question really should be, “how much car can I afford?” A new vehicle is a large financial transaction that will have a long-term impact on your bank account, and without this information, it’s very easy to get yourself into financial trouble pretty quickly.
There are a lot of factors that should be considered when buying a car, but one that is probably the least often thought about is the credit score.
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