Buy vs. Lease Your New Vehicle | Greenville SC | Spartanburg, Greer, Anderson & Easley

Buying VS Leasing
Buy vs Lease

Buying vs. Leasing Your New Vehicle in Greenville, SC

When you're shopping for a new vehicle, there are a lot of choices to make. In addition to the make and model of your preferred ride, it's important that you determine whether you'd prefer buying or leasing. Each one has its perks and downsides, and it ultimately depends on your financial situation.

Here at Big 'O' Dodge Chrysler Jeep Ram, we want you to be able to make an informed decision. So keep reading to learn more about the buying or leasing process!

WHY LEASE A VEHICLE?

Freedom of Choice

Freedom and flexibility are the primary benefits when it comes to leasing a vehicle. When leasing, customers have the option to switch to a new vehicle every few years if they choose. This way, they can postpone the purchase decision without having to sell or trade the vehicle.

Flexibility

Leasing terms often range between 24 and 60 months. With shorter terms, you can make more manageable payments. You can also choose your mileage. Lessees are normally given 12,000 to 15,000 miles per year, but if you need a higher mileage limit, you can always purchase more miles at signing.

Lower Payments

Since you're just paying for the right to drive a vehicle for a certain amount of time, your financial responsibility and monthly payments are significantly reduced. Also, if you're not ready to put down a large down payment, then leasing may be the better option, as there are leasing options that require $0 down.

Hazard-Free Driving

Since most leases last around two or three years, your vehicle is usually covered with warranty protection for as long as you have it.

True Convenience

When your lease ends, you simply return the vehicle and pay any remaining fees (for excess mileage or wear and tear) and taxes. If you decide that you'd like to keep your vehicle at lease-end, you also have the option to purchase it at a predetermined price. In either case, there's no need for you to sell it or trade it in unless you want to.

WHY BUY A VEHICLE?

Ownership

Ownership is the main perk of buying instead of leasing a vehicle. If you want to keep your vehicle for a longer time, then buying is most likely the better option for you. Plus, choosing to buy rather than lease provides you with the option to customize your vehicle to match your lifestyle.

No Mileage Limitation

When you finance or buy your vehicle outright, you're responsible for the miles you travel, and you don't have to deal with any mileage restriction. Leasing requires that you calculate in advance how many miles you'll drive each year. Ownership gives you the freedom to drive as much and as far as you like without accruing fees.

Payment Flexibility

If you decide to purchase your vehicle, you can choose to finance it or pray for it upfront with cash. If you buy with cash, you become the owner right away and don't have to worry about monthly payments. If you choose to finance, you have an extended period of time with a loan to pay off the vehicle. For the best financial agreement, we strongly recommend that you acquire the most affordable, dependable and competitive rates possible, like what we offer here at Big 'O' Dodge Chrysler Jeep Ram.

True Freedom

When you complete your payment schedule, typically in four to six years, you become the owner of your vehicle. You can keep driving it for as long as you like without any further payments, or sell or trade it at any time.

If you happen to have any questions or would like to get to know us more, come visit us at 2645 Laurens Road, Greenville, SC 29607. We look forward to serving customers from Spartanburg, Greer, Anderson and Easley.

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