A new vehicle is a major investment – and there’s more to your decision than which car, truck or SUV to purchase. With many customers wondering whether it is better to buy a car or lease one, the Hoover Chrysler Dodge Jeep RAM Financing Department has compiled this helpful guide!
Check it out or contact a friendly, knowledgeable member of our team to talk through your financing options. We are always here to help, providing the kind of exceptional customer service that you would expect from your hometown RAM dealer!
Leasing at Hoover Chrysler Dodge Jeep Ram
Before leasing a car, it’s important to consider the costs and benefits of a lease contract, including the following:
Pros of Leasing
- Lower monthly lease payments
- Small (or no) down payment
- Less sales tax
- Lower repair costs thanks to the vehicle’s factory warranty
- Opportunity to drive a newer/upgraded vehicle for less money
- Simple swap to a new vehicle every few years
Cons of Leasing
- Pay more over time than if you purchased a car and drove it for years
- Mileage limit of 12,000 miles/year (typically)
- Confusing, wordy lease contracts from the leasing company
- Potential for costly wear-and-tear fees
- Expensive to terminate a lease early
Buying at Hoover Chrysler Dodge Jeep Ram
Now we will compare the pros and cons of buying a car:
Advantages to Buying
- Save money in the long run
- Avoid excess mileage penalties
- Freedom to modify/upgrade your vehicle
- Put trade-in value toward your next car
Disadvantages to Buying
- Higher down payment to avoid owing more than the car is worth
- Higher monthly costs
- Responsibility for repair costs after warranty runs out
- Vehicle depreciates in value over time
Which Financing Option Is Right For You?
After one glance at a vehicle’s purchase price, you may assume that you cannot afford to buy a car. Even with the help of a long-term loan, high interest rates and loan payments may keep car ownership out of reach. Leasing a Chrysler, Dodge, Jeep or RAM vehicle can be a great alternative.
But it is important to carefully consider your finances first. That’s where Hoover Chrysler Dodge Jeep RAM’s Financing Department comes in, helping you decide whether you should lease or buy your next vehicle.
Find Your Next Vehicle At Hoover Summerville!
We are proud to be your hometown Jeep dealership in Charleston, offering great deals on your favorite Chrysler, Dodge, Jeep and RAM models – like the adventure-ready Jeep Wrangler or RAM 1500!
Our top-notch team works hard to provide the very best shopping experience – so come see us today for a test drive! Or visit us online to check out the digital shopping tools at Hoover Summerville!