Buying Or Leasing My New Vehicle in Cochrane, Alberta
Which Is It Better: Buying Or Leasing
Whether to buy or lease is an increasingly common question that many wonder about, and we, Cochrane Dodge, are here to help you make the decision that suits your specific situation. Our new inventory will have a Chrysler vehicle that checks off all your requirements, which is why you should pick one to test-drive.
Advantages Of Buying
Buying your next vehicle allows you to drive as much as you like since there aren't any mileage restrictions. If you like modifying your vehicle to suit your specific needs, buying is the only option as non-reversible modifications can result in charges for a leased vehicle. When modifying your new vehicle, make sure to follow the manufacturer's suggestions to ensure that your warranty isn't at risk of being void. When you own your vehicle, you can sell it at any time, letting you recoup some of the funds invested, which can lower the amount required to purchase your next vehicle. Once the payment period is over, you will have a vehicle to drive without monthly payments, and unlike a lease, you won't have to make an end-of-term decision.
Advantages Of Leasing
When leasing, you will get to enjoy smaller down payments, leaving you with more money for your other obligations. Also, it works similar to financing since you will have monthly payments, but at the end of the term, you return the vehicle to the dealership. Leasing allows you to switch vehicles every few years, letting you drive the newest vehicles without the hassle of getting rid of your previous one. Since you can upgrade more often, your leased vehicle will always be within the factory warranty, saving you from spending money on repairs. Ensure that your lease term falls within the factory warranty, or you will have to pay for some maintenance down the line. The most significant factor that drives many to lease is the business tax write-offs, which lets you put the lease payments as a business expense.