- Up front cost
- Locked in terms
- Early termination fees
- Renter not an owner
- Increased insurance premiums
- Typically limited to new models
- Personal property tax (state specific)
- No tax credit for trade (state specific)
*mileage restriction and wear & tear apply
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- Often longer term to afford payment
- Risk of unexpected depreciation
- Increased negative equity risk
- Early trade out is limited
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- Guaranteed future value at end of term
- Protection from unexpected depreciation
- Reduces negative equity risk
- Rights of ownership
- Flexibility during and at end of term
- Titled in your name
- Trade at anytime
- Sell at anytime
- Refinance or Payoff at anytime
- No early termination fees
- Payments are lower-based on difference between residual and total amount financed
- Lower payments allow more options for asset protection
- Easy "walk-away" option at end of term
*mileage restriction and wear & tear apply
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