Should you Buy, Lease or Finance a New Car

🚗 Buying a car? In this video, we break down the four most common ways to get a new car — buying outright, traditional financing, leasing, and balloon/select financing. You’ll learn exactly how each option works, which one is the cheapest, how to calculate the total cost, and why opportunity cost and psychology matter just as much as the numbers. While there are other ways to buy a car — like using a personal loan or third-party financing — this guide focuses on the four strategies most car buyers actually use. Perfect for anyone comparing buy vs lease vs finance and wanting a clear, no-BS cost comparison.

💡 In this video, you’ll discover:
-The real total cost of buying a car with cash, financing, leasing, or balloon/select financing
-How balloon financing works in the U.S. — and why it can be both a smart move and an expensive trap
-Why leasing often costs more long-term, and the few cases where it actually makes sense
-The truth about 0% APR car deals and the hidden costs car-dealers hope you never calculate
-The psychological sales tactics car dealerships use to push you into signing a deal that benefits them more than you

📊 Want to calculate your own car payments?
Use the Bank of America Auto Loan Calculator

✅ Bottom line: Always look at the total cost — not just the monthly payment. The dealership’s job is to hide the real number. Your job is to find it.