There seems to be some uncertainty when it comes to leasing versus buying a new vehicle. You may wonder how making monthly payments on something you aren't planning to own can be advantageous. Depending on your lifestyle and financial situation, you may discover there are actually a host of benefits to opting for a lease over a loan. We offer a rundown of the advantages of the team at our dealership; learn more today.
Lower Monthly Payments
Of course, one of the first benefits that comes to mind is the savings you can expect from a lease. Monthly lease payments are usually less than those of a loan payment. Because you're not buying the vehicle, you won't need to pay the entire purchase price. Your lease payment finances the depreciation or loss in value over the lease contract term.
Vehicle Affordability
Your budget can go further with a lease since payments are less. For instance, lots of our customers discover a lease allows them to be able to afford a nicely-equipped, more expensive model than the base-level vehicle they thought they would need to get. It'll surely elevate your commute through Wooster, Ohio when you're driving in a premium trim level.
Less Money Required Upfront
Another way a lease can save you money is on the down payment. Instead of the 20 percent that is often required for a vehicle purchase, you may find that little to no money is needed as a down payment on a lease.
Fewer Maintenance Costs
Leases typically come with a manufacturer's bumper-to-bumper warranty. This is usually more than sufficient to cover the types of maintenance or repair issues that occur over your short lease period of between two and three years.
No Trade-In or Resale Hassles
Leasing a vehicle can add quite a bit of convenience to your life. You might appreciate that you don't have to deal with selling or trading in your vehicle when your contract is up. All you have to do is bring it back to us at our dealership near Ashland, Ohio. Be aware that there may be fees due for excess wear and tear or for miles driven around Shelby, Ohio, over contract stipulations. You can usually plan for these things at the beginning of your contract so that they don't become an issue.
New Vehicle Accessibility
It's not uncommon for leaseholders to discover they truly enjoy the benefits of leasing over buying, so they often decide to sign another lease when their contract ends. If leasing works for your lifestyle, you may find that you can drive a brand-new Chevy vehicle with the latest technology, comfort, and safety options every few years. Upgrading to a new model is relatively straightforward; our team can help you with the process. Many folks love this aspect of leasing and enjoy the enrichment it can bring to their lives.
Option to Purchase
If it turns out that you're quite happy with your current leased model, you may have the ability to buy it when your lease ends. It's a nice option to have in the event that it makes financial sense for you to do so.
Apply for a Lease
It's clear that there are lots of reasons shoppers may prefer to lease a new Chevrolet model instead of buying. If this financing method seems like a good fit, why not submit a finance application online from the comfort of your Bucyrus, Ohio couch? It's a convenient way to start the process so our finance experts can begin the behind-the-scenes details. Then, you can focus on shopping our entire new Chevrolet inventory and taking a test drive. Want to speak to a finance representative? That's not a problem. Just call the dealership any time during our regular business hours. We look forward to assisting you in the way that best fits your needs.