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Buying a car

A new car could be one of the most expensive purchases you make. Before you commit to the first vehicle that catches your eye, think about how you plan to use and pay for it.
Keep in mind:
  • Leasing generally lets you use a new car over a limited period for a relatively small monthly payment
  • Buying may require a larger down payment and higher monthly payments for the life of the loan, but it tends to be less expensive than leasing over time
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Take a look at the numbers and see how each would impact your finances.
Video: Lease or buy your car
Video: Saving for a large purchase
If you're planning to buy a big-ticket item, it's a good money habit to have a plan to pay for it.
Learn how to determine your automobile needs, plan a budget or research your options.
Calculate your estimated monthly payments or how much you can afford to spend on your next car.
Use this auto refinance calculator to compare your current loan with a refinance loan.
Apply for a loan
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Important disclosures

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.