Lease vs. Finance

December 11th, 2018 by

happy couple signing papers with salesman at dealership

If you are ready for your next vehicle in Middletown commutes, you might be asking yourself, “should I buy or lease?” There are benefits to both leasing and buying your next car, and depending on your lifestyle, budget, and needs you might find that one is better for you than the other. Compare leasing vs. financing at Old Saybrook Chrysler Dodge Jeep RAM, and contact our finance center if you have any questions!

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Benefits of Buying

  • No Mileage Restrictions: If you expect to drive longer-than-average distances, buying imposes no restrictions on miles per year.
  • Total Ownership: You are free to do with your car whatever you want if you decide to buy.
  • Customization: You can modify, accessorize, upgrade, and decorate your vehicle to create your ideal car in Middletown.
  • Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
  • Financing Options: The car financing process is a bit more straightforward than leasing, and there is more flexibility for those with less-than-perfect credit scores.
  • Refinancing Options: You can refinance your loan to lower your interest rate and monthly payments after you’ve purchased your car.
  • Less Cost Over Time: Though buying a new car is more expensive in the initial period, you will generally save money on total cost if you keep your vehicles over the long term.

Benefits of Leasing

  • Lower Payments: Both monthly payments and down payments tend to be lower with lease agreements.
  • Lower Sales Tax: Leasing significantly lowers sales tax in most states.
  • Trade-In Process: When your lease term is over, the process of getting your next leased vehicle is simple. Pay any remaining fees, return your lease, and start leasing the next vehicle of choice.
  • Great Coverage: Warranty coverage and maintenance is simple when leasing–issues that pop up under your warranty within the mileage limit are usually covered.
  • Options: Leasing gives you access to the latest technology in the newest models, and clear-cut options if you feel overwhelmed by all the choices.

Explore Leasing and Financing Options at Old Saybrook Chrysler Dodge Jeep RAM

Explore all of our new vehicles near Madison to find your favorite model, then apply for financing to get started toward your next model! If you have any questions about loan payments, loan terms, or lease terms, visit our finance center and our experts can go over your options.

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