When purchasing a car upfront isn't an option, leasing and financing become viable alternatives. To help you make an informed decision with your purchase, our team at Good Fellow's Auto Wholesalers has put together this blog post decoding common myths about financing and car maintenance. As providers of Car Financing in Toronto, allow our team of experts to expand your knowledge and give you clarity so that you can make the best decision.
Myth 1: Financing a Car Loan Makes Maintaining Payments Trickier
When financing a vehicle, payments are not made trickier. In fact, this process is simplified as the borrower only needs to make their agreed-upon payments. Typically scheduled monthly, bi-weekly, or weekly, this type of plan is the easiest to follow and it can even be very flexible when needed. In addition, most payment plans can be accommodating to different financial situations, adding to the convenience of the financing process.
Myth 2: Financing a Vehicle Makes Maintenance Harder
Contrary to popular belief, financing a vehicle does not make maintenance harder. In the case of leasing, maintenance is typically covered under the manufacturer’s warranty and an arrangement with the lender is typically needed to fix problems as they arise. On the other hand, when it comes to financing, one has complete control over all of the maintenance decisions. When financing, it gives the car owner the freedom to decide how and when to maintain the vehicle. As long as payments are made on time, the owner can do as they wish with the vehicle.
Myth 3: Leasing a Car Makes Maintaining Mileage Harder
When in a lease agreement, typically there is a stating in the contract regarding how much mileage is allowed to be driven by the end of the contract. If one happens to go over this, the only penalty will be paying a fee for each kilometre that one is over. While this does not necessarily make it "harder", it just makes one more aware of their travel habits and to plan accordingly.
Contact Our Used Car Dealership
If you have additional questions regarding financing, leasing, or used cars in general, contact our team at Good Fellow's Auto Wholesalers and we would be delighted to assist you. Call our team at 1 (855) 581–9590 and we would be pleased to assist you. Our dealership looks forward to working with you.