Buy, Lease, or Own Your Next Vehicle From Pippen Motor Co in Carthage

Some things are simple to buy. For products like clothes or food, you simply go to the store, bring the product to a cashier, and exchange money for ownership. Buying a car is similar to this process, except a lot more complicated, because most people just don't have the money to hand over the full cost of the vehicle up-front. This is typically remedied in one of two ways - either the buyer in question just takes out a loan and pays it back over the course of driving the car, or they simply lease the car in question and hand it back to the dealership after a negotiated period of time.

Leasing is a great way to have a brand new car without paying the full cost. The period of time you're permitted to lease the vehicle is generally three years, which is the period of time during which most vehicles lose the largest percentage of their residual value anyway, so you won't have to worry about resale value once your contract is over. Plus, the cost of the leased vehicle is calculated by subtracting the predicted value from the current value, so you won't even have to pay the entire sticker price for the car. However, since you don't actually own the car, you're subjected to things like mileage restrictions, and you have to make sure you perform regular maintenance to keep the car in shape.

Buying, as mentioned above, typically doesn't mean owning - at least, not right away. Most people put a certain amount of money towards the total cost of the car to take a chunk off the full price, but then take out a car loan to help pay for the rest of the price. As a result, the car technically belongs to the financial institution from which you borrowed money until you finish paying off that loan.

Once the loan is paid off - or, if you're one of those rare, lucky people who have the money to buy a car up-front - you own it. Like any other product, it's yours. No mileage restrictions, no monthly payments, and you can either keep up with maintenance or let the car fall to pieces if you feel like it, though that's not recommended. Owning a car means it belongs to you fully and completely. This has a lot of benefits, particularly in the financial department; in the long run, owning is the cheapest way to go, because you're getting your money's worth out of something you've already paid for.