Buying or Leasing? The Benefits to Both

You came into Paul Bailey’s Chrysler Dodge Jeep RAM, located at 425 Ten Rod Rd in North Kingston, RI, and test drove the new vehicle you were interested in. You explored the different trim levels, compared colors, reviewed the information your salesperson gave you, and have now decided which vehicle is right for you. There’s only one issue: You don’t know whether you should lease or buy.

Many of our customers from Warwick, RI come in with the same dilemma. Luckily, our dealership can cut through the misinformation and present the benefits of owning versus leasing.

The Ownership Option

The traditional approach has been to obtain an auto loan with the assistance of the dealership and, once you pay off this loan, the vehicle belongs to you. One of the benefits of the ownership option is that, once the vehicle is paid off, you have guaranteed equity that you can use in trade for a new vehicle.

Another benefit of buying is that you don’t have to worry about mileage restrictions and accruing charges at the end of the lease if you go over miles. Cranston, RI residents can also customize the vehicle in any way that you want without having to worry about additional charges.

The Leasing Option

One benefit of leasing that might make some of our Providence, RI customers happy is that, if you lease, you can get a new vehicle every three years with all the latest features and options. Leasing is also a great way of getting into a new vehicle at a lower monthly payment.

Another plus of leasing is that, unless you have a high mileage lease, you will always be covered underneath the manufacturer’s warranty for the time you have the vehicle. Lastly, you don’t have to worry about trading or selling your vehicle later on.

Our Finance Team is Here to Help

Whichever option is right for you; our experienced finance team is ready to assist with securing financing and answering any unanswered questions you may have about how buying and leasing works for your specific situation. Feel free to visit our finance center for more information on how we can help.

Give us a call, or stop into Paul Bailey’s Chrysler Dodge Jeep RAM, in North Kingstown, RI, to start the process of buying or leasing your new vehicle today!

Categories: New Inventory, Finance
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