Finance A New Car: The Main Options

Finance A New Car - Complete Controller

Perhaps the most significant slip-up individuals make when purchasing a car is neglecting to incorporate the expense of car financing in the total cost. But a conveyance is a definite need for a person.

The purchase of a car is a significant expense. A common saying is that after habitual residence, acquiring a vehicle is the most expensive transaction of our life. Generally, this operation has a very high cost, which is why many people choose to finance the final amount. Today there are many financing types, so to clarify how you prefer to buy your new car, we explain how to finance a new car. Cubicle to Cloud virtual business

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How to finance a new car

To compare the different forms of financing, we have taken as an example two brands that have the two most popular formulas for buying a financed car, Mazda and Ford. Exit Advisor

Traditional financing:

It’s lifelong financing. It consists of delivering an entry for the purchase of the vehicle and paying the rest of the total amount in monthly installments. The amounts vary depending on the buyer’s needs, and there is usually a minimum number of monthly or annual permanence. When you finish paying the installments, the car is your buyer’s property.

Flexi Option or Multiprocessing:

How to finance a new car? Agree on a payment arrangement for the vehicle’s entry and a monthly fee during a period that usually ranges between three and five years. The balance is due at the end of that period, known as a final fee.

Then, the buyer can choose to keep his car, paying the remaining amount (being able to refinance it), return the vehicle without any commitment, or exchange it for another of the same brand, starting again to pay monthly installments. Usually, this type of financing includes maintenance during the payment of monthly installments and roadside assistance service.

Financing with your bank:

It is the same as traditional financing, except that it is done through your trusted bank and not through the financial company associated with the car brand. The new car is paid in cash at the dealership (with the money lent to the bank), and then the buyer must settle the credit with the bank. As with traditional financing, once all installments are paid, the vehicle becomes the buyer’s property. Download A Free Financial Toolkit

Renting and Leasing

In addition to the above forms of financing, you can use a new car by leasing a car or renting a car. With these systems, the vehicle will not be your property, but in exchange for a monthly fee, you can enjoy it without having to worry more than filling your fuel tank since the tire change, repairs, maintenance, or charging insurance a monthly fee.


It is a long-term rental contract with an option to purchase. It consists of the payment of entry and a fixed monthly fee before the buyer becomes the vehicle owner. Also, it must assume all expenses derived from the car. Plans like the Ford Multiprocessor or the Mazda Flexi Option rely on this purchase formula.


It is a contract to purchase a car at a particular time. It stipulates the payment of a fixed monthly fee that includes the services necessary for the proper functioning of the vehicle, except fuel. However, the ownership of the automobile belongs to the company that provides said services.

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