New Car Leasing vs Buying

Why Lease a New Car?

If you like to drive newer, safer, more reliable cars, but prefer not pay a big down payment every few years, and also do not drive an exorbitant amount every year, then a new car lease might be the right choice for you. Leasing is ideal for people who prefer to avoid the hassle of buying and selling every time they want to upgrade to a new car, truck, or SUV.

Why Buy a New Car?

Conversely, if you want long term relationships with a larger sense of commitment and ownership, then buying might be what’s ideal for you. Car-buying is typically best for people who won’t mind driving the same car, truck, or SUV for over five years or even until it is no longer fit for the road.

Buy vs Lease: Which Is Right for You?

Being aware of the pros, cons, and overall benefits of buying vs leasing a car is imperative. Be sure to acknowledge factors such as potential savings, vehicle ownership, monthly payments, and repair costs when considering the best new vehicle financing type for you.

Buying: Ownership vs Leasing

When it comes to vehicle financing, new vehicle ownership certainly comes with many well-known advantages, most associated with outright ownership of the car. You may not be aware, but, there are also a few great advantages to leasing, as well. It’s important to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A careful examination of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the optimal choice between leasing and buying a new car, truck, or SUV.

Monthly Payments

Vehicle lease payments are often times less expensive compared to car financing and loan payments as the typical lease structure is basically renting with the option to purchase at the end of your lease term. Remember when leasing that you’ll need a decent credit score, and will be required to carry comprehensive and collision insurance, though the same can be said for the lower rate auto loans. Though it can increase monthly payments, it’s also better to choose a model with the features you want or need, as personal satisfaction is often priceless.

Maintenance & Repair

Auto leases often include regular vehicle maintenance & repair. It is important to remember this when projecting monthly costs of ownership vs leasing. Regardless of which make and model you select, mechanic bills are an unknown cost that can quickly add up. And for those who aren’t certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.

Savings vs Investment

Generally speaking, a new vehicle lease saves money in the short term with lower monthly payments, while buying gets you a long term investment, meaning outright ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For your best investment on a financed/purchased vehicle, you can pay it off quickly and also avoid excessive wear and mileage.

Chrysler, Dodge, Jeep, Ram Lease and Finance Offers In San Antonio TX

Ingram Park Chrysler Jeep Dodge Ram knows that choosing the right Chrysler, Dodge, Jeep, Ram car and financing option is never easy. Our team of experienced Chrysler, Dodge, Jeep, Ram lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in San Antonio, TX. We look forward to serving you.