Buying vs. Leasing a Vehicle

When it comes time upgrade your vehicle, you have some important decisions to make, including whether buying or leasing is the better option for you. Shopping for a vehicle in Chatham, Jacksonville, or Taylorville can be overwhelming, which is why we’ve outlined the benefits of each financial option.

Buying a Vehicle

When you finance or purchase a new vehicle, you own it outright, so you have more control. You won’t face mileage restrictions or penalties for wear and tear outside of resale value when you decide to sell or trade your vehicle in. You can also secure a car loan with bad credit.

Buying the vehicle also means you’re free to keep it for as long as you’d like, rather than turning it in when a lease is up. If you do decide sell your current, the cash acquired from the sale is yours to keep.

Often times, monthly loan payments can be higher than lease payments unless you put down a sizable down payment, and you might not get a full return on investment if you do sell, due to vehicle depreciation.

2017 Dodge Durango Field

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Leasing a Vehicle

When you lease a vehicle, you often have lower monthly payments. This is because you’re only paying for the amount of the vehicle’s expected depreciation value over the length of your lease.

You’re able to return the vehicle at the end of your agreement in exchange for a new vehicle without the hassle of selling your current vehicle. However, won’t receive any return on investment.

You need to keep up with routine maintenance to avoid any penalties. Mileage restrictions keep you from prolonged travel or extensive commutes, and wear and tear can be costly to cover at the end of your deal.

2018 Ram 1500 Stadium

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Explore Your Finance Options at Green Dodge

Ready to explore your options and determine if leasing or buying is better for your Chatham drives? Contact us online or visit Green Dodge in Springfield to speak to member of our finance team.

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(217) 610-8240

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3801 Wabash Ave • Springfield, IL 62711

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Green Dodge
Green Dodge
3801 Wabash Ave
Springfield, IL, 62711 United States
(217) 610-8240
Green Dodge 39.7571306, -89.727408.