If you want to drive newer, safer, more reliable cars, trucks, or SUVs, but prefer not make a large down payment every 3-4 years, and also do not drive an enormous amount of miles yearly, then a new car lease should be the right choice for you. Leasing is designed for those who would prefer to bypass the hassle of selling and buying every time they want to upgrade to a new car, truck, or SUV.
On the other hand, if you like long term automotive relationships with a higher sense of commitment and ownership, then buying might be what’s ideal for you. Car-buying is typically best for people who will not mind driving the same vehicle for more than five years or even until it is no longer fit for the freeway.
Being aware of the pros, cons, and overall benefits of buying vs leasing a vehicle is imperative. Be sure to contemplate monthly payments, vehicle ownership, repair costs, and potential savings when considering the best new vehicle financing type for you.
When considering vehicle financing, new car or truck ownership surely comes along with many advantages, most associated with entire ownership of the car. You may not be aware, however, there are also a few nice benefits of leasing, as well. It’s imperative to consider all financial aspects including depreciation, down payment, monthly payments, term length, buyout payments, interest rate, and maintenance & repair costs, before making a decision. A precise checkup of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the optimal choice between leasing and buying a new car.
Vehicle lease payments are often times less expensive than auto loan and car financing payments as the standard lease structure is basically renting with the option to purchase near the final payment of your lease term. Consider when leasing that you’ll need a higher credit score, and will be required to carry comprehensive and collision insurance, though the same can be said for the lowest rate auto loans. Although it can likely increase your monthly payments, it’s also smart to select a model with the features you need or want, as personal satisfaction is often priceless.
Auto leases often include regular vehicle maintenance & repair. It is important to keep this in mind when projecting monthly costs of ownership vs leasing. Regardless of which make and model you buy, mechanic bills are an unknown cost that can quickly add up. And for those of us who aren’t certified mechanics with a full toolset and hydraulic jack in the garage, leasing may be the best option for peace of mind.
In general, a new car lease saves money in the short term with more affordable monthly payments, while buying gets you a long term investment, meaning full ownership of the value of the car at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For the best investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.
| Lease | Buy | |
| Ownership | No Ownership | Pride of Ownership |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| APR % | Credit-Based | Credit-Based |
| New Vehicles | Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Vehicle Customization | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
Bob Howard Chrysler Jeep Dodge Ram knows that choosing the right Chrysler Jeep Dodge Ram car and financing option is never easy. Our team of experienced Chrysler Jeep Dodge Ram lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Oklahoma City, OK. We look forward to serving you.
Ask yourself this: do you love changing your car often and hate a huge upfront payment? Customers who love new cars every few years and don’t like paying a significantly high amount every month or hate the idea of a longer finance term may like the idea of leasing a vehicle. Bob Howard Chrysler Jeep Dodge Ram lease deals offer a flexible lease term option, so customers can make an educated decision while choosing a lease deal.
If your answer is “no” to the above question, then purchasing a car is your best option. Once you have settled on the CJDR model you want, check out our specials, lease deals, and all current offers to see what works best for you. We offer a variety of incentives, that are updated monthly, for both leasing and car buying financing option. We recommend customers to contact our local dealers to learn more about the ongoing offers available in their location.
No matter what you choose: lease or buy, our sales experts will assist you all through your new car purchase or leasing journey. Call us or contact us when you are ready and we’ll put our expertise to work for you.
Our salesman JJ was a quick and efficient salesman. He had all of our paperwork ready within an hour of me calling in and reserving a vehicle. I had to drive 2 hours to the dealership. The vehicle was cleaned and ready to go when we arrived. They treated me very well and were not hiding anything at all during the buying process. JJ was very respectful and knowledgeable salesman.
could have explained what our finance charge was on this transaction but no percentage was ever given me, only problem was when we drove home and discovered that while they ere cleaning the vehicle for the sale, much of the inside glass had streaks, indicating that someone did not rinse out the cloths used for that purpose enough, I had to reclean them
FANTASTIC CAR BUYING EXPERIENCE, It was fast and super easy with pre approval. Ben and Darren were great, no haggling, they put me in something I wanted.
Extremely disappointed in the customer service. In the past we’ve been very satisfied with our new Jeep purchases at Bob Howard Jeep, but unfortunately we will be not purchasing our next Jeep from this dealership. Salesman was not knowledgeable enough with the various options to help facilitate the sale.
Went in yesterday because my Jeep was having battery issues. It’s still under warranty. I was there 5 1/2 hours to have my two batteries tested and replaced. 5 1/2 hours!!! The staff was great! The waiting area was awesome. The coffee was good. But I did feel as if I was the lowest priority on the books being warranty work. When a friend asked what the hell were they testing for 5 1/2 hours, the answer was, “my patience.”
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