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Posted

There are two possibilities:

1.) You choose a car at the dealership. The finance company (the dealer will suggest one) buys the car and you lease it from them.

Advantage: If you make a say, 4-year contract, you'll own the car after that period.

Disadvantage: If your car breaks down for some reason, you won't get a replacement car.

2.) You rent a car from a car rental company on long-term basis.

Advantage: Depending on the contract, they might give you a replacement car when the car is in repair or maintenance. Rental contract will likely cover repair and maintenance charges (check the contract).

Disadvantage: When the rental period is over, you return the car.

I have done both and prefer option 1.

Posted

There are two possibilities:

1.) You choose a car at the dealership. The finance company (the dealer will suggest one) buys the car and you lease it from them.

Advantage: If you make a say, 4-year contract, you'll own the car after that period.

Disadvantage: If your car breaks down for some reason, you won't get a replacement car.

2.) You rent a car from a car rental company on long-term basis.

Advantage: Depending on the contract, they might give you a replacement car when the car is in repair or maintenance. Rental contract will likely cover repair and maintenance charges (check the contract).

Disadvantage: When the rental period is over, you return the car.

I have done both and prefer option 1.

Ok. Thanks for the information. What bank is easy to work with in this case?

Posted

There are two possibilities:

1.) You choose a car at the dealership. The finance company (the dealer will suggest one) buys the car and you lease it from them.

Advantage: If you make a say, 4-year contract, you'll own the car after that period.

Disadvantage: If your car breaks down for some reason, you won't get a replacement car.

2.) You rent a car from a car rental company on long-term basis.

Advantage: Depending on the contract, they might give you a replacement car when the car is in repair or maintenance. Rental contract will likely cover repair and maintenance charges (check the contract).

Disadvantage: When the rental period is over, you return the car.

I have done both and prefer option 1.

Ok. Thanks for the information. What bank is easy to work with in this case?

If you are referring to option 1: The car dealership will have an agreement with a finance company.

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