When it comes to acquiring a new or used vehicle, leasing and financing are the two primary choices for managing the price tag. They each have their pros and cons. For anyone in Kill Devil Hills considering a Chrysler, Dodge, Jeep®, or Ram vehicle, it's important to weigh which of these two is a better fit for your budget and needs.
Learn the Difference
The primary difference is that financing is a pathway to owning a vehicle outright, but leasing is not. At the lease's end, the vehicle returns to our dealership. Because of that, leases often come with certain restrictions, like mileage limits for driving around Nags Head and different maintenance agreements. However, you will enjoy the benefit of a new model and cutting-edge features at a lower monthly fee. Financing is simpler: make all the payments, and the vehicle is yours.
Consider What's Best for You
Two key considerations are the payment structure and your time horizon. If you plan to get a different new vehicle within a short period, such as three years or less, leases provide an easier mechanism for a faster and more convenient trade-up. Financing is less flexible in that respect. The monthly cost of leasing and financing can vary dramatically based on the vehicle, your credit, and whether specials or promotions are applied to your payment plan on one or both options. Financing is often a more lucrative deal for anyone who plans to keep their vehicle after they are done paying off the loan, but it might not be easy to stick to that plan if more attractive vehicles are released before you are done with the loan. Both options offer benefits; it depends on your unique needs.
Get Started Online
There is no overall answer about whether financing or leasing is the best choice for you, but you should be familiar with each option to make an informed choice. If you still have questions, don't hesitate to reach out to our staff over the phone or online from the comfort of your Wanchese couch. Our dealership proudly serves Manteo and the surrounding areas. We hope to see you at our finance center soon.