Congratulations! You've decided it's time to give your Ann arbor, Farmington Hills, Garden City, and Troy, MI, travels a well-deserved upgrade. You've picked the model of your dreams from our showroom, but now what?
At Suburban CDJR (Chrysler Dodge Jeep Ram), we offer flexible financing options. This includes having the choice between buying or leasing. Which option is right? Read through our lease vs. buy guide to find out!
Our finance team believes that everyone should have access to the vehicle of their dreams. That's why they proudly offer finance solutions to individuals with all types of credit and financial histories.
When it comes to choosing a finance plan that complements your needs, leasing and buying are the go-to options. Both allow you to drive off our lot behind the wheel of a new vehicle, but there are some key differences between each plan.
For example, leasing is a short-term driving solution. On the flip side, buying allows you to sell or trade in your vehicle at any point.
Let's explore the benefits of each option in more detail to help you learn more!
Leasing is a popular finance choice for drivers who don't want to put money toward a down payment. It's also a great option for those with subprime credit and are actively working to increase their credit score.
Typically, leases last anywhere from two to five years, so this is a perfect option for those who want to buy an upcoming model but need a new car now.
Some of the benefits of leasing include:
Since lease payments cover the depreciation value of the vehicle and, therefore, are typically less than the total value, you'll likely find yourself paying less per month compared to buying. This allows you to lease a higher trim level that might not have been an option if you bought.
Additionally, end-of-lease steps are fast and easy. Simply schedule a lease return appointment, drop off the vehicle, and be on your way. No need to think about the vehicle's trade-in value.
Buying a car is a great choice for those who want to increase their personal assets. It's also a great choice for those who want to customize the vehicle with manufacturer parts and accessories.
One of the most popular benefits of buying is everything that comes with ownership. Once you pay off the loan in full, you still own the vehicle but are no longer required to make payments. This means, over time, you may see a decrease in vehicle payments.
Additional benefits of buying include:
Since you own the vehicle at the end of the loan payments, you never have to think about excessive wear and tear fees that come with leasing.
You also reserve the right to sell or trade-in your vehicle at any point since loans don't include a contract with the dealership. While you have this option, it's always advisable to only sell or trade in your vehicle if it has positive equity.
Still unsure if you should buy or lease your next car? Our team of finance experts is here to help. They'll work with you one on one to determine your unique needs. From there, they'll pair you to the plan that most closely matches your lifestyle and financial needs.
If you want to learn more about your needs prior to your finance appointment, spend a few minutes exploring our online tools. Our pre-approval tool is a great resource since it not only tells you more about your finance options, but it also will help streamline the finance process.
Now that you know more about the benefits included with buying and leasing and picked the finance plan that's best, all that's left is to visit us at Suburban CDJR.
With the help of our finance experts, you'll sign a personalized lease or loan in the blink of an eye, allowing you to embark on the first of many trips around Ann Arbor, Farmington Hills, Garden City, and Troy, Michigan, sooner than expected.
Contact us to schedule your finance appointment today!
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