The Advantages of Leasing A Vehicle
When you decide it's time to purchase a new vehicle at the Lake of the Ozarks, you have a couple financing options. You can either finance your vehicle through a loan or you can choose to lease it through the dealership. There are advantages and disadvantages to each option. Your Lake of the Ozarks car dealership wants to take a closer look at the advantages of leasing a vehicle.
Advantages To Leasing
No Down Payment
Leasing a vehicle is very similar to financing through a loan, but there are some differences. When you have a loan, the value is based on the entire coast of the vehicle, minus the down payment. When you lease, you're only financing the depreciation that occurs during the lease term, plus fees. At the end of the lease, you simply return the car to the dealership. There is no downpayment needed.
Better Car for Lower Monthly Payment
Unless you put down a huge down payment, typically with a lease, the monthly payment will be cheaper than a car loan payment. With the lease, you only pay the difference between the car's price and what it's expected to be worth at the end of the lease, which is commonly known as its residual value. This means that typically you can drive a much nicer vehicle for a lot less than if you were to just finance the vehicle through a loan.
Lower Repair Costs
While you do need to keep up with regular maintenance on a lease, such as oil changes, tire rotations and any other recommended maintenance from the manufacturer, it's typically cheaper to repair a leased vehicle. This is because many leases last about three years or the length of a typical new car warranty. So any unexpected repairs during the lease are usually covered by the warranty. However, it;s important to remember that maintenance is even more important for a leased vehicle, as failure to properly maintain the vehicle could result in fees at the end of the leasing period.
Easily Trade Cars
If you enjoy driving new vehicles or switching cars often, leasing could be a great option for you. Most leases last 3 - 5 years, which means you can get a new car every few year and each one will have the latest and greatest technology and safety features. In addition, with leasing, you don't have to worry about selling the car or getting a good price for your trade-in. When the lease is up and you have followed all the rules from your contract, you can simply turn in the car and walk away.
Disadvantages To Leasing
While there are many great advantages to leasing, there are a few disadvantages you should be aware of before diving in and leasing a vehicle. Most leases limit the number of miles you can drive before penalties are enforced. In addition, the lease will require you to bring back the vehicle in original condition, minus normal wear and tear. It's important to read the fine print to know what's allowed and what's not allowed. Another disadvantage to leasing is that you will have no equity in the vehicle, and in the long run, lease payments could add up and cost more than paying for the vehicle through a car loan.
If you're ready to take the plunge and purchase a new vehicle at the Lake of the Ozarks, Hulett Chevrolet-Buick-GNC is here to help. We typically have around 170 vehicles in our inventory, so we have a large selection of new and used vehicles for you to choose from. Stop by our vehicle showroom in Camdenton, Missouri and let us help you find your new ride.
513 N. Business Route 5
Sales: 573.317.4191
Advantages To Leasing
No Down Payment
Leasing a vehicle is very similar to financing through a loan, but there are some differences. When you have a loan, the value is based on the entire coast of the vehicle, minus the down payment. When you lease, you're only financing the depreciation that occurs during the lease term, plus fees. At the end of the lease, you simply return the car to the dealership. There is no downpayment needed.
Better Car for Lower Monthly Payment
Unless you put down a huge down payment, typically with a lease, the monthly payment will be cheaper than a car loan payment. With the lease, you only pay the difference between the car's price and what it's expected to be worth at the end of the lease, which is commonly known as its residual value. This means that typically you can drive a much nicer vehicle for a lot less than if you were to just finance the vehicle through a loan.
Lower Repair Costs
While you do need to keep up with regular maintenance on a lease, such as oil changes, tire rotations and any other recommended maintenance from the manufacturer, it's typically cheaper to repair a leased vehicle. This is because many leases last about three years or the length of a typical new car warranty. So any unexpected repairs during the lease are usually covered by the warranty. However, it;s important to remember that maintenance is even more important for a leased vehicle, as failure to properly maintain the vehicle could result in fees at the end of the leasing period.
Easily Trade Cars
If you enjoy driving new vehicles or switching cars often, leasing could be a great option for you. Most leases last 3 - 5 years, which means you can get a new car every few year and each one will have the latest and greatest technology and safety features. In addition, with leasing, you don't have to worry about selling the car or getting a good price for your trade-in. When the lease is up and you have followed all the rules from your contract, you can simply turn in the car and walk away.
Disadvantages To Leasing
While there are many great advantages to leasing, there are a few disadvantages you should be aware of before diving in and leasing a vehicle. Most leases limit the number of miles you can drive before penalties are enforced. In addition, the lease will require you to bring back the vehicle in original condition, minus normal wear and tear. It's important to read the fine print to know what's allowed and what's not allowed. Another disadvantage to leasing is that you will have no equity in the vehicle, and in the long run, lease payments could add up and cost more than paying for the vehicle through a car loan.
If you're ready to take the plunge and purchase a new vehicle at the Lake of the Ozarks, Hulett Chevrolet-Buick-GNC is here to help. We typically have around 170 vehicles in our inventory, so we have a large selection of new and used vehicles for you to choose from. Stop by our vehicle showroom in Camdenton, Missouri and let us help you find your new ride.
That's The Way We Do It At Hulett!
513 N. Business Route 5
Camdenton, MO 65020
Sales: 573.317.4191
Service: 573.317.4195
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