When you’re at the Jeep dealer shopping for a new car, there are a million little decisions to make. Everything from the paint color to the features you want in your vehicle has to be considered. High on the list of important questions is whether you should buy or lease your car. Both options have benefits, and each has drawbacks, so how do you decide?
Buying: A Straightforward Commitment
The biggest perk of buying a car? That shiny new ride is all yours! There are no strings attached, no mileage limits, and you can customize it to your heart’s content. Want neon lights and racing stripes? Go for it. With each payment you make, you are building equity in your vehicle, meaning that if you ever decide to sell, you could see a hefty return.
Long-Term Savings
While the initial costs of buying a car are usually higher, buying often proves cheaper over the long run. Remember, once you finish those payments, the car is completely yours!
Freedom to Switch Vehicles
Want to sell your car? There’s no need to wait. With no contract holding you back, you can choose to trade it in for a new vehicle or sell it whenever you wish.
Leasing: A Flexible Arrangement
Leasing is more like renting a car for an extended period, typically two or three years. Instead of purchasing the vehicle outright, you make monthly payments to “borrow” it. These payments cover the vehicle’s depreciation during the time you’re using it, plus interest and fees.
At the end of your lease, you will return the car to the dealership. You will then have the option to either walk away, lease a new vehicle, or purchase the one you’ve been driving at a reduced price.
Lower Monthly Costs
Typically, leasing requires a lower down payment and will be cheaper on a monthly basis than buying a car. That’s what makes it a popular choice for people looking to manage their short-term expenses. Plus, most leases come with a warranty for the duration, so major repairs are usually covered.
Always in Style
Since the average lease only lasts a few years, you will frequently enjoy the opportunity to upgrade to a new vehicle. This means you will consistently enjoy the latest in tech and features, including new safety features. Adaptive cruise control, anyone?
Should You Buy or Lease at the Dodge Dealer?
So, what’s the verdict? Well, there isn’t one right answer for everyone. If you love the thrill of new tech, don’t have plans to customize, and don’t mind never truly owning your car, leasing could be for you. But if you care about long-term investments, love the idea of ownership, and want to make your car your own, buying is the route to take.
Whether you decide to buy your next vehicle or lease instead, be sure that it matches your financial goals and lifestyle. And, most importantly, enjoy the ride in your new Chrysler! If you’re ready to explore your options, make the drive to Performance Chrysler Jeep Dodge RAM Delaware. We’d love to help you find your next vehicle.
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