Should I Buy or Lease?

Are you on the market for a new vehicle to ride through Pella? Whether you’re looking for a pick up truck or a four door sedan, there are plenty of options at DeYarman Chrysler Dodge Jeep RAM. As you’re deciding on the perfect vehicle for your Indianola lifestyle, you should also determine how you will finance it. Many of our customers ask our finance team “Should I buy or lease a car?” and the answer is dependent on your personal financial situation and your financial goals. Learn more about leasing vs buying with DeYarman Chrysler Dodge Jeep RAM below!

Leasing vs. Buying: Long and Short-Term Costs

• Leasing: When all other factors are the same, you will typically have lower payments.If you are concerned about making monthly payments, leasing gives you some relief. You’ll also have a smaller down payment and save on sales tax. If you sign a new lease every few years, you won’t have to worry about your payments or maintenance costs increasing significantly. The downside is that you’ll always have a monthly payment.
• Buying: When you purchase, you will eliminate your monthly payment. If your goal is to eventually eliminate monthly payments, purchasing is the better option. You can budget to make sure you pay off your vehicle within your desired time frame. This is the cheaper option long-term, but when it’s time to get a new vehicle, you’ll likely have higher payments.

Leasing vs. Buying: Mileage Restrictions

• Leasing:There is a mileage restriction stated in your lease contract and it’s crucial to ensure that you don’t go over that limit. Consider renting a car when taking road trips if you commute to SE Des Moines often.
• Buying: You can put as many miles on the car as you want! Whether you drive often or only when necessary, you won’t have to keep track of how many miles you’re driving.

Leasing vs. Buying: Customization

• Leasing: When you lease the vehicle, you don’t own it. Therefore, you do not have as much freedom to personalize it. You must return the vehicle close to the condition that you received it.
• Buying: When you purchase the vehicle, you can do whatever you please with it. Whether you want to change the color, update the exterior features or change the seats, you have the ability to do so!

Leasing vs. Buying: Financial Freedom

• Leasing: For most drivers, leasing can be more convenient. All you have to do is take care of your vehicle, return it at the end of the lease term and lease a new one! You even have the option to buy the car if you love the one you leased!
• Buying: Purchasing your vehicle gives you additional flexibility and freedom. You can upgrade to increase its resale value or trade-in value. Plus, you can keep it for as long as you want!

Talk Through Your Leasing and Financing Options at DeYarman Chrysler Dodge Jeep RAM Today!

Now that you know the pros and cons of leasing vs buying, you can decide which is best for you! Regardless of which model you choose, contact us to schedule a test drive! You can check out all of our new vehicle options online today!