Should I Lease or Buy My Next Car?

January 23rd, 2020 by

There is more than one way to drive your new car off the Orland Park dealership lot. Deciding between leasing and buying can be tricky because there is much more to consider than monthly costs. Choose how to finance your new car with these helpful guidelines.

When you lease a car, you are essentially borrowing the vehicle for a fixed period of time with agreed-upon monthly payments. These monthly payments are almost always lower than finance payments, which could allow you to spring for a newer model. Plus, you don’t have to worry about your vehicle depreciation, because you will always return it to the Orland Park dealership. On the other hand, there are a few restrictions to follow when driving the car. Most leases have a mileage limit and you’ll have to pay charges for exceeding miles. You will not be able to personalize your vehicle with custom parts and you’ll have to pay for any damages beyond basic wear and tear.

Buying a car gives you the freedom to do whatever you want with it. You now own the vehicle and all the responsibility that comes with it. While the monthly finance payments will be higher, you have the flexibility to keep the car as long as you want. The vehicle will depreciate quickly, but the cash value will be yours to keep when you decide to sell. There is no limit of customization or milage.

However you choose to finance your new vehicle, visit our experienced staff at our Orland Park dealership!

Posted in Tips