Buying a car

A new car could be one of the most expensive purchases you make. Before you commit to the first vehicle that catches your eye, think about how you plan to use and pay for it.

Keep in mind:

Leasing generally lets you use a new car over a limited period for a relatively small monthly payment
Buying may require a larger down payment and higher monthly payments for the life of the loan, but it tends to be less expensive than leasing over time

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Lease or buy your car? Understand the options

Take a look at the numbers and see how each would impact your finances.

Saving for a large purchase

If you're planning to buy a big-ticket item, it's a good money habit to have a plan to pay for it.

Read

Understand the basics of buying a new or used car

Learn how to determine your automobile needs, plan a budget or research your options.

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Auto Loan Payment Calculators

Calculate your estimated monthly payments or how much you can afford to spend on your next car.

Auto Refinance Calculator

Use this auto refinance calculator to compare your current loan with a refinance loan.

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Bank of America auto loans

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Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

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Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF).

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