Should I Buy or Lease?

Couple buying a car

Should I buy or lease? You might be wondering what’s the best financing option, a lease vs. buying, while you’re shopping for a new vehicle in Camden. Deciding what is the best choice for you and your finances can depend on several factors. To answer the question ‘should I buy or lease’, learn more about the benefits of leasing vs. buying with this overview from the finance team at Southern Chrysler Dodge Jeep Ram in Fordyce, then be sure to check the value of your trade-in.

Benefits of Buying

  • No Mileage Restrictions: If you’re planning on logging a lot of miles with frequent trips in and around the %%target_city_2 %% area, you may want to consider buying. Leasing often imposes mileage caps. Without the mileage limits you get on a leased vehicle, you’re free to drive as much as you want.
  • Customization: Want to upgrade your new vehicle to enhance performance or technology? Buying rather than leasing allows you to make cosmetic and mechanical changes as you see fit. Feel free to contact our parts department to customize your vehicle.
  • 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 more straightforward and more accessible to those with less than perfect credit scores. Buying also allows you to refinance your loan to lower your interest rate and monthly payments.
  • Less Cost Over Time: While buying a new car is more expensive initially, the larger you own the car, the more the car pays off.
Excited man buying a car

Benefits of Leasing

  • Lower Payments: Both monthly payments and the down payment are lower when you choose leasing over buying.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local Fordyce dealership, pay any remaining fees, and drive away in your next new vehicle.
  • Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as any issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.
  • Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle. You’ll have tons of options and will be able to find the perfect model and features for you.
  • High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.

Explore Financing and Leasing Options at Southern Chrysler Dodge Jeep Ram!

Wanting to know more about your finance options or refinancing options, or how to take over a lease deal? Contact us at Southern Chrysler Dodge Jeep Ram in Fordyce to learn more about the the car buying process! Apply for financing online to see if you’re pre-approved, and be sure to check out our new vehicle offers and incentives!

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