There are two main options: leasing and financing. Here's a quick overview of the key differences:
- Leasing is renting a car from a dealership for a set period, usually 2-4 years. You return the car to the dealership or buy it at the end of your lease term.
- Financing is taking out a loan to pay for a car. You own the car and make monthly payments until it's paid off.
- Leasing is best if you want lower monthly payments and don't mind turning in your car…