In the market for a new car? Well, once you land on a model that you love, your focus will transition to payment. Here, you have two primary options, leasing and financing. In this lease vs. finance guide, our team here at Station Chrysler Jeep will compare the two options for you. That way, you can determine which is the best option for you as a Mansfield, Attleboro, and Norton, MA, area driver.
Starting with traditional financing, you will be working to make payments on a vehicle that you will own. With a finance plan, you will negotiate:
In order to find a deal with terms and conditions that you are content with, you'll be able to work with local lenders to see which offers you the best deal. Once you are happy with your terms, you'll sign the dotted line, take your vehicle home, and move one step closer towards eventual ownership.
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With leasing, on the other hand, you are making payments to drive a vehicle for a set number of years. Similarly, you will be looking and negotiating to find a lease deal with terms you are comfortable with in the following areas:
Once you land a lease you are comfortable with, you will make your monthly payments on the vehicle for the length of your contract. Once the contract reaches its end, you will return the vehicle to the dealership, who retains ownership rights.
Essentially, you can look at financing like buying a house. You will make a down payment and make subsequent monthly payments to pay back the loan that allowed you to make the purchase. Leasing, conversely, is more like renting a property. You'll pay monthly, like rent, in order to use the vehicle.
So, which is the better option? Well, that really is up to you, and your wants and needs as a local driver.
For those who value complete liberty over their vehicle, financing is the better choice. With financing, you can change the paint, add accessories, and take the car wherever you want because you are the owner. Additionally, financing is a great choice if you know you love a specific model.
Leasing on the other hand, could be a better option if you are someone who finds themselves frequently interested in new cars. With the flexibility to explore new models every few years, your car will always be up to date with the latest and greatest features. If you end up loving your leased vehicle, you could always explore buying it from the dealership rather than giving it back, too.
Still unsure of which payment option is the best for you? Contact our team here at Station Chrysler Jeep to ask any questions you may have after checking out this lease vs. finance guide. We're proud to serve Mansfield, Attleboro, and Norton, Massachusetts, area drivers and will be happy to help you in any way that we can.
91 Chauncy St, Route 106
Mansfield, MA 02048-1913