Whether you’re eyeing a rugged Ram truck, a stylish Chrysler sedan, a versatile Jeep SUV, or a powerful Dodge muscle car, understanding your financing options is an important first step in having a long and happy relationship with the vehicle of your dreams. Just like there's no one-size-fits-all solution when it comes to choosing a car or truck, there's no universal answer for the best financing option, as it depends on individual preferences, financial circumstances, and long-term vehicle needs — why is why we offer Green Bay residents a range of choices.
Leasing — a Flexible and Modern Approach to Driving
Leasing has become an increasingly popular option for drivers who desire flexibility and the opportunity to drive newer models every few years.
What is Leasing?
Leasing a vehicle is similar to renting it for a set period, typically 2-4 years. You pay monthly installments to use the car and return it at the end of the lease term.
The Advantages of Leasing
Lease payments are generally lower than loan payments as you’re paying for the vehicle’s depreciation during the lease term, not its total value. Leasing also allows you to enjoy the latest models with the most current technology and safety features. As an added bonus, you’re less likely to encounter significant maintenance issues with newer models, and the vehicle is usually under warranty for the lease duration.
Leasing Considerations
Leases come with mileage restrictions. Exceeding these limits can incur additional costs. Additionally, at the end of the lease, you may be charged for damages beyond normal wear and tear. You also don’t build equity in the vehicle as you would with a loan.
Loans — the path to Ownership
For those who prefer ownership and the freedom it brings, taking out a loan to purchase a vehicle is the traditional route.
How Do Vehicle Loans Work?
When you take out a loan, the lender pays the full price of the vehicle. You then repay this amount, plus interest, over a set period.
Advantages of Loans
Once the loan is paid off, you own the car outright. You can keep it as long as you like, sell it, or trade it in. Unlike leasing, there are no penalties for driving long distances. As the owner, you can customize or modify your vehicle as you please.
Loan Considerations
Loan payments are typically higher than lease payments as you’re paying off the vehicle’s entire purchase price. As the vehicle ages, you may face higher maintenance and repair costs, especially after the warranty expires.
Choosing What's Best for You
Deciding between leasing and taking out a loan depends on your personal circumstances, financial situation, and driving habits.
Your Driving Needs
Leasing may be ideal for you if you enjoy driving new models every few years, drive a moderate number of miles, and prefer lower monthly payments. However, if you plan to keep the car for many years, drive long distances through Seymour, or want to build equity in a vehicle, buying is probably preferable.
Your Financial Situation
Leasing requires a stable and predictable lifestyle as it involves fixed-term commitments and set mileage. Buying is more flexible in the long term. and can be more economical for those willing to drive the same vehicle for many years.
Schedule Your Financing Appointment Online
Our dealership offers a range of lease and loan options. Our experienced financial advisors can help you navigate these options, providing personalized advice based on your specific needs. At our dealership, we offer customized financing solutions that cater to different budgets and preferences. Look out for special leasing and financing deals, particularly for new models or during certain times of the year. Contact us online from your Howard couch or over the phone to schedule your financing appointment. Visit our finance center today.