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2. Personal contract purchase - Wikipedia

   en.wikipedia.org/wiki/Personal_contract_purchase

   This option, but not the obligation, to acquire the car after a period equivalent to a contract hire is therefore packaged as either an option (in law) to purchase the car (a call option) at a 'set' price, or a right to sell the car (a 'put' option) at a set price after ownership is fully achieved from the final ‘balloon’ payment.

3. Car finance - Wikipedia

   en.wikipedia.org/wiki/Car_finance

   Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years. The lessee pays a fixed monthly payment for the privilege of driving the vehicle, and when the lease ends, the lessee returns the vehicle to the lessor. The lessee pays only for the value of the vehicle for the term of the lease.

4. Vehicle leasing - Wikipedia

   en.wikipedia.org/wiki/Vehicle_leasing

   Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.

5. The Average Cost of Auto Payments in 2024: US vs. Canada - AOL

   www.aol.com/average-cost-auto-payments-2024...

   If you've ever purchased a new car, you probably needed a loan. About 80% of new cars are financed with either a loan or lease in the United States, according to 2023 data from the Federal Reserve....

6. What Percentage of Your Income Should Go Toward Auto Loan ...

   www.aol.com/finance/percentage-income-toward...

   Not far behind are transportation costs, particularly if you own a car — and certainly, if you finance your purchase. See: 7 Crucial Things You Need To Apply For an Auto Loan Related: 25 Sneaky ...

7. Using a 401(k) loan to buy a car: Is it ever a good idea? - AOL

   www.aol.com/finance/using-401-k-loan-buy...

   Using a 40(k) loan to purchase a car could be a smart move if it's the least expensive option. Before using this option, consider the potential drawbacks, including fees and missing out on ...

8. Closed-end leasing - Wikipedia

   en.wikipedia.org/wiki/Closed-end_leasing

   Closed-end leases are so called because they run for a fixed term, and the lessor and lessee agree in the lease contract what the residual value of the property being leased will be. In most cases (particularly in retail motor vehicle leases), the lessee has an option to purchase the property for the agreed residual value at the end of the ...

9. Our top 7 new car-buying tips - AOL

   www.aol.com/finance/top-7-car-buying-tips...

   Consider the monthly payment along with other vehicle ownership costs. A good rule of thumb is to spend no more than 20 percent of your monthly household income on a new car.