There are three types of ways to buy a car: cash, lease, and most common, financing. If you can afford cash, that is the best way to buy. It will be the cheapest and you have 100% equity in the car, it is all yours. The only downfall is that it can deplete your banking account. In the long run, buying with cash the cheapest and easiest way to buy a car. Another type of way to buy a car is financing or taking a loan. This is the most common way Americans buy a car. The car buyer makes monthly payments which means you slowly gain equity. Financing your car help keeps your savings intact, you will eventually own your car, and with a decent credit score you can get a decent deal. But on the contrary, you will not own the car fully for awhile, you still have to pay 10%-15% down, and with a low credit score it will be a higher loan. The third and final way to buy a car is leasing. Leasing is often conceived as a terrible way to buy a car.This is not true. Like any way to buy a car, there are pros and cons. When leasing you get a new car every couple of years(Hearn). The car buyer has no worries about resale. No down payment, and often get very good warranties which could save the consumer a lot of money(Hearn). Also if you use the car for work, there is potential for tax deductions. But when leasing a car there is no equity. At the end of the contract the car is gone and what…