Should I Buy or Lease? | Punta Gorda FL
You may have heard of a friend who’s leased before, but maybe you’re not sure what all it entails. What are the perks of buying or leasing? Which option saves the most money? Or, which is best for your lifestyle? We can help with those questions here at Gettel Chrysler Dodge Jeep RAM. Buying or leasing a new RAM, Jeep, Dodge or Chrysler is a big decision, so we’ve put together the advantages that each will bring. Have more questions? Our finance experts are just a call away with answers.
Minimal Upfront Cost
Leasing is similar to renting a vehicle or apartment. In your contract, you agree to make monthly payments in exchange for vehicle use until the allotted time is up, which means your financial responsibility and monthly payments may be reduced significantly compared to buying. Especially when combined with our new car specials that frequently require $0 down, the upfront costs of leasing a brand new Chrysler, Dodge, Jeep or RAM are little to none.
There is some variance between leasing contracts based on your credit history, but on average, leasing terms last 24-60 months, which means you could score low monthly payments with shorter terms. The flexibility and luxury to upgrade to a new vehicle every year is a huge perk, especially since you’re free of the hassle of trading or selling at lease-end. However, lessees are only given 12,000-15,000 miles on the car each year with an option to add more miles to your contract at signing.
As mentioned before, most lease terms last 24-60 months, which means your new car will most likely still be covered under its manufacturer warranty during the entire period of your lease. And if you choose to add our Lease Excess Wear & Tear Protection Plan, you’ll be covered from the expense of everyday scratches and dings, too.
Owners get the benefit of keeping the vehicle they drove on their first date with their partner, to their big job interview or the vehicle they drove across the county in that once-in-a-lifetime road trip. After your car is paid off, you have the freedom to pass your car along to your teen, or trade or sell whenever you want. Plus, you can accessorize or customize your vehicle to your liking, similar to deciding the perfect paint color for a wall in your purchased house. You’ll see a long-term investment in buying that leasing doesn’t offer.
When buying, your return on your money is a better investment than leasing. Each monthly payment makes your vehicle closer to being yours, while each monthly payment on a lease is lost. You have more options, too, when buying, like paying in full with cash or choosing another lender besides the trusted finance department here at Gettel Chrysler Dodge Jeep RAM. So while there’s probably a required down payment, buying is more financially responsible.
No Mileage Restrictions
And once your new vehicle is paid off, the dealership isn’t the boss—you are. You don’t have to ask permission to leave the county (like a lease would require) and you can set your yearly mileage restrictions, or not. Ownership means the satisfaction of independence.
If you’re ready to be the proud owner or lessee of one of our new models, or are interested in learning more about your lease-end options, feel free to contact us online or visit us at 2323 Tamiami Trl, Punta Gorda, FL 33950. We look forward to serving customers from Punta Gorda, FL, near Port Charlotte, North Port, Venice and Fort Myers.