The advantages of buying or leasing a vehicle

Purchasing a vehicle comes with a tough financing decision, including the choice of entering into a retail or lease contract. Both have advantages and specific reasons as to why you would choose one over the other. In a retail loan, you will own the vehicle once the monthly payments are paid out. You are free to drive the vehicle as many miles as need be. At the end of the retail term, you may have built up equity that can assist with a down payment on your next vehicle.

If you choose to lease your vehicle, the monthly payments will be lower since you are paying for only the vehicle’s depreciation for the length of time you leased the vehicle. You return the vehicle at the end of the lease contract and move on to your next vehicle to drive. Drop by your dealership today to discuss which option will fit your budget the best!

Categories: Finance
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