When you’re looking to upgrade your Pickerington ride, and you’re working on a budget, we know it can be hard to know what option is right for you. In terms of leasing vs. buying, there are many differences, and which one you choose will largely depend on your specific Gahanna needs. Take a moment to review our guide below. Then, explore our new inventory and contact us to schedule a test drive at our Columbus dealer!
So, what is leasing? Simply put, it means renting your vehicle. You don’t build equity, and you can’t sell the vehicle, so you only pay for the depreciation that occurs over the duration of the lease term. Which means your monthly payments will be lower and the down payment smaller. With this flexibility, when your lease is up, you can renew it, swap it out, end it, or finance the remaining value of your lease. You have options!
Should you buy or lease a car? Well, to answer that, you need to learn about financing first. When you choose to finance, you take out a loan on the full value of the vehicle with the intention of owning it. The full value of a vehicle will be more than the depreciation over a temporary lease period, so expect to make a larger down payment, pay more sales tax, and make bigger monthly payments.
That being said, you’re able to recoup money from your investment with the freedom to sell if you choose to. For many Bexley drivers, financing is almost always the most cost-effective strategy, but only if their budget allows.
Still not sure which one is right for you? That’s okay. You can talk to a member of our finance center team, and they’ll help you. Or, if you already know, you can always apply for financing from the comfort of your home! No matter what you choose, at Byers Chrysler Jeep Dodge Ram, we’re here to support you and help fulfill your new car dreams. So come on down, and we’ll help you get started.
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