The New Vehicle Financing Dilemma: Leasing vs. Buying

Imagine this situation: you have found the right vehicle, gotten a great price, but you haven’t decided whether to lease or buy. We have seen this situation many times and, as we tell our Myrtle Beach, SC customers, it is an important decision that can’t be taken lightly. Conway Chrysler Dodge Jeep RAM, located at 2385 Church St, 2385 Hwy 501 in West Conway, SC, understands that there is a lot of incorrect information floating out there about the vehicle financing process, and has compiled some of the reasons to buy, and some reasons to lease, their new vehicle.

The Reasons to Lease

There are many attractive reasons why someone might want to lease a new vehicle. The monthly payment on a lease is almost always going to be lower than the monthly payment on a traditional auto loan. Even if you don’t put the money down required to get the monthly payment advertised in the lease special, the payment will still be lower.

Another great reason to lease is that, unless you are in a high-mileage lease, you will always be under the manufacturer’s warranty. You will also be able to get into a new vehicle every two to four years, depending on your lease agreement. This means you will always have a vehicle with the latest features and upgrades.

The Reasons to Buy

Many of our Loris, SC customers tell us that the reason they don’t lease is that they enjoy having the equity in their vehicle after they are done paying it off. You can almost never get any equity in a leased vehicle. You can use the equity you have in a vehicle you own towards trading for a new vehicle.

Another advantage of buying is that you don’t have to worry about mileage restrictions. If you are living in Socastee, SC and your commute to work changes by 10 miles one way, you don’t have to worry about the fees associated for going over mileage. You also don’t have to be concerned about the fees associated with any dings and dents that fall under your insurance deductible if you are buying a vehicle.

Our Finance Team is Here to Help

Whether you decide to buy or lease, our finance team can answer any questions about the current lease specials, incentives, and other financing promotions. Many of these specials expire monthly, so call us or stop into Conway Chrysler Dodge Jeep RAM, in West Conway, NH, today!

Categories: New Inventory, Finance
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