Consider the different ways of financing
a vehicle to decide which one is right for you
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If you have enough to pay for a vehicle up front then you'll enjoy the advantage of only paying the purchase price, with no interest or fees, plus the car will be yours with no security registered against it, right from day one. Of course, the cash you used won't be available for anything else, whether it's that dream holiday or a rainy day.
The advantages of taking out a loan is that you can get the car you want now, with little or no deposit, and you'll still have your savings or other credit facilities if you need them for something else. With this option you pay interest, but you can talk to MTF about ways to minimise the cost of your loan.
Vehicle leasing is a cost-effective way to enjoy the use of a car without the responsibility of owning it. There's no initial outlay and payments may be lower than loan repayments. Because you never actually own the vehicle, you can easily upgrade to a newer model at the end of the lease term.