A car lease is a type of agreement where you pay a monthly fee to use a car for a specified period of time. Unlike buying a car, you don’t own the vehicle at the end of the lease term. It’s sort of like a long-term rental. Here’s how a car lease typically works: You will need to choose a car that you want to lease. You can shop online or in person to find a car you like. Typically you only lease new vehicles, but in special circumstances you can lease retired service loaners or even Certified Pre-Owned vehicles. Once you have chosen a car, you will need to…

Car financing involves obtaining a loan, borrowed money typically with interest (APR) to be paid to the lender, to purchase a vehicle. The loan can be obtained from a bank, credit union, or car dealership. The process typically involves the following steps: Determine the amount of money you need to borrow to purchase the vehicle. This amount will depend on the cost of the car, any trade-in value, and your down payment. Also, make sure you will be approved for the amount of money you need to borrow. Check your credit score. Your credit score will play a significant role in determining your interest rate and whether you can qualify…