Lease or Buy? What's Important to You? What Are Your Priorities?
All
of us have different personal styles, objectives, and priorities-- in
cars, life, and financial concerns. Whether to lease or buy, your
decision will be based on your own lifestyle and with your own
priorities in mind. What's right for one person may be totally wrong for
another. Save time,
get pre-approved to lease or buy a car or find out
the value of your trade-in vehicle. What is the difference between buying and leasing a vehicle?
At Larry H. Miller Chrysler Dodge Jeep Ram 104th, we will help you make the decision that is right for you. Let's get started!
Buying a New CarWhen
you buy a new vehicle, you pay for the entire cost of the vehicle,
regardless of how much you drive it or how long you keep it.
Your
monthly payment will be higher if you buy vs lease, and you usually have
to make a down payment, pay sales tax, and will have an interest rate
to contend with. When it's time to get a new vehicle, because of
depreciation your car will be worth less. In the long run you'll get
less return of your original investment.
Leasing a New CarLeasing
a new car, SUV, or Ram truck at Larry H. Miller Chrysler Dodge Jeep Ram 104th Serving Denver metro
areas, generally allows you to get more car for your money, and you may
have the option of no money down.
- When
you lease a new vehicle in Denver, you only pay a portion of the
vehicle's cost, which is the part that you "use up" during the time you
are driving it.
- Leasing is a form of financing and is not the same as renting.
- You may have a choice of not making a down payment.
- You
pay sales tax only on your monthly payments (in most states), and you
pay a financial rate, called money factor, that is similar to the
interest on a loan.
- Keep in mind you may be required to pay fees that you don't have to pay when you buy a new car.
- You make your first payment at the time you sign your contract, which is for the month ahead.
- At lease-end, you may either return the vehicle, or purchase it for its depreciated resale value.
- You may be charged a lease-end disposition fee, and for any excessive mileage wear-and-tear.
- There
are positives to not owning your vehicle. Instead of worrying about
selling your vehicle some day, all you have to worry about is routine
maintenance.
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