To Buy or Lease a New Car

Key Takeaways

  • Leasing limits your mileage, but you don’t tie up cash, you drive a late-model car, repairs are limited, and you don’t have to sell.
  • Buy if you’re looking at used vehicles that you plan to drive for three-plus years and you don’t expect major lifestyle changes.

Know Your Loan Basics

Key Takeaways

  • Four basic components of any type of loan are time, interest rate, loan amount and payment.
  • Young adults tend to have four types of loans: student, auto, credit card and mortgage.
  • A good credit score will give you much better terms on any type of loan—and save you thousands of dollars over your lifetime.