Should I Buy or Lease with Ron Sayer's Chrysler Jeep Dodge?

Lease Agreement

It should be no surprise that the question, “Should I buy or lease a vehicle,” is one of the most common with Blackfoot drivers. Fortunately, we at Ron Sayer's Chrysler Jeep Dodge are here to lay it out in easy-to-understand terms! While there is no option that is holistically “better”, one will likely be a better choice for you! Keep this in mind as we break down buying vs. leasing.

Leasing vs. Buying: Long and Short-Term Costs

  • Leasing offers lower monthly payments off the bat, and you’ll also spend less on taxes and down payments. You won’t have to worry as much about escalating service or repair costs. The flip side would be that if you start a new lease every few years, your costs will stay pretty static throughout.
  • Financing provides the chance to eliminate your monthly payment entirely, and buying used is often cheaper than leasing new. Essentially, drivers of financed vehicles will pay less than those who lease, but repair costs are typically higher as a vehicle ages.

The Bottom Line: If you are feeling as though you want to keep your vehicle for an average of three years and enjoy the newest features, leasing may be best. However, if you are more interested in full ownership, perhaps financing a vehicle would be preferable for you. 

Most Chrysler, Jeep, Dodge, RAM drivers keep their vehicles for an average of three years, and just about everyone we talk to wants to enjoy the latest features. Contact us today to explore your options. 

Leasing vs. Buying: Mileage & Restrictions

  • Those who finance their vehicles do not have to worry at all about mileage limitations.
  • Those who lease their vehicles will have to stay within strict mileage boundaries or pay a fee when you return the vehicle at the end of the lease term. 

The Bottom Line: If you are interested in taking your vehicle for road trips and weekends without worrying about mileage limits, financing might be the better option. However, if you are mainly using your vehicle for shorter commutes or are more concerned with enjoying newer amenities, leasing is your best bet.

Leasing vs. Buying: Total Ownership and Customization

  • When you buy a vehicle (or finance its full cost), you can accessorize your vehicle to your heart’s content, or modify the vehicle more extensively with custom parts or upgrades. Do take into consideration that doing so may void your warranty.
  • When you lease, you’ll need to keep the vehicle as close to factory condition as possible as the dealership needs to resell it after it leaves your hands.

The Bottom Line: If you are more interested in performance driving and vehicle customization, buying would be best for you.

Leasing vs. Buying: Freedom, Options, & Processes

  • Financing offers flexibility. When you finance the vehicle, it’s yours as long as you wish. You also have the option to sell or trade the vehicle at any time as long as it is worth more than you owe. You may also be able to refinance for a lower rate down the line. 
  • Leasing is easy and convenient. Leasing a new vehicle is a fun and easy process as long as you return the vehicle in good condition. You also have the option to buy out the lease and own the vehicle for good.

The Bottom Line: The simplicity and convenience in leasing is a major draw for drivers in Rexburg, but if you are more comfortable maintaining and reselling a vehicle it may be worth it to purchase and one day trade the vehicle to offset future costs. 

Explore Leasing and Financing Options at Ron Sayer's Chrysler Jeep Dodge

If you’re ready to move forward with a decision, feel free to apply for online financing or explore our finance department today. Call us at ​208-497-5343 to get started! 

 

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