Buying vs Leasing Pros and Cons

When you browse our Standish MI new Chrysler, Dodge, Jeep, Ram inventory, you may have questions regarding financing. Saginaw drivers might not know whether to buy or lease your next vehicle, but our team is ready to help.

Leasing

When leasing in Midland MI, you have plenty of reasons to choose this option, but there are also some terms that others might find difficult to swallow. Here are the top pros and cons to leasing a new car, truck, or SUV:

Pros

  • With leasing, Ram 1500 drivers can trade in their vehicle at lease-end, which is usually after three years.
  • Leasing may offer you lower monthly payments since you'll borrow a portion of the vehicle's value rather than the entire vehicle's cost like you do when buying.
  • A Jeep lease means you'll always have the latest features for a lower price.
  • When you lease, it's easy to turn your vehicle over, walk away, refinance to buy, or get into another new car lease.
  • Drivers who lease won't need to feel concerned over depreciation and how it will affect your trade-in value.
  • You may not need a down payment with leasing.
  • You won't have to worry about paying for costly repairs since the vehicle you lease is under warranty and will be returned prior to any large maintenance milestones.

Cons

  • Leasing is only possible with brand-new cars, trucks, and SUVs. Drivers looking for a used car should consider buying.
  • A lease ends with you turning the vehicle over to us and possibly choosing to lease again. This means there's no end to your payments since you go from one lease to another.
  • Drivers with kids might want to rethink a lease since you'll have to pay for excess wear and tear. This can include staining, scratches, dings, or dents of a certain size.
  • A Dodge lease will give you the latest features, but you won't be able to customize your ride to reflect your personality.
  • There are mileage restrictions with a lease that can restrict where you can go with your new ride.

Buying

This is an option that most Bay City Ram drivers are familiar with, and it's typically a great fit for the driver who plans to keep their vehicle around for longer than a leasing term. The benefits to buying, as well as reasons to think twice about this option, are outlined below:

Pros

  • When you buy, you have the option to select a new, used, or Certified Pre-Owned vehicle that suits your budget and lifestyle.
  • Buying means that at the end of your payments, you own the car outright, which gives you equity.
  • If you have a particular vision for your vehicle, you'll have the opportunity to customize your ride to suit you. You can install body kits or bumper stickers as you see fit.
  • If you choose to trade your vehicle early, you won't be penalized for excess wear and tear or mileage overages.

Cons

  • If you opt to trade your vehicle after a couple of years, your vehicle suffers great depreciation from the moment you drive off the lot.
  • Buying can be costly since you borrow the entire vehicle's entire value.
  • When something breaks or you hit a major service milestone, those costs are most likely coming from your pocket if the vehicle isn't covered by a warranty anymore.
  • Typically, buyers will be saddled with a hefty down payment when they opt to buy.
  • Buying means you have to shop around to get the best trade-in value for your vehicle.

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Financing with Richardson Chrysler Dodge Jeep Ram

Here at Richardson Chrysler Dodge Jeep Ram, you can get a head start on the process by applying for financing on our website. You can get an estimated credit score and prequalify for your Chrysler, Dodge, Jeep, Ram lease or loan near Linwood MI. Questions? We encourage you to contact us so we can help you to find the answers.

Get in Touch

  • Contact Our Sales Department: 9893140525
  • Monday08:00AM - 07:00PM
  • Tuesday08:00AM - 07:00PM
  • Wednesday08:00AM - 07:00PM
  • Thursday08:00AM - 07:00PM
  • Friday08:00AM - 05:30PM
  • Saturday08:00AM - 03:00PM
  • SundayClosed
  1. Richardson CDJR of Standish

    3781 S Huron Rd
    Standish, MI 48658-9336

    • Sales: 9893140525
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