Lease or Purchase--Which is the Better Choice for You?

After you’ve made your decision about which vehicle best fits your needs, you’re faced with another big decision: whether to buy or lease. There are benefits to either option.
Typically, the monthly payments for a lease will be lower that the monthly payments on a purchase for the same vehicle. On the other hand, with each payment you make on a purchase loan, you build equity in the vehicle. Once you have completed the scheduled payments on a purchase, the vehicle will be yours. Once you have completed the payments on a lease, however, you will be required to return the vehicle unless you decide to buy it at that point.

There are other considerations as well, such as consequences for early termination, mileage restrictions and up-front costs. If you’re interested in more information about whether leasing or purchase is best for you, please stop by our dealership. Our staff will be happy to discuss it with you.
Categories: Finance

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