When it's time for a new set of wheels, you essentially have two options: leasing or financing. Both have their pros and cons, so let's take a look at how they compare. Whatever way you go, our Batavia, OH, Chevy dealership will help you get started toward a great deal.
The Benefits of Leasing
Leasing is attractive to many drivers from Bethel and Williamsburg because it allows you to get into a new car more frequently. With a lease, you make lower monthly payments because you're only paying for the vehicle's depreciation during the lease term, which is usually for two or three years. This means you always get to drive a newer car with the latest features and technology.
Another perk of leasing is that it requires less money upfront. You'll typically pay a refundable security deposit plus taxes and fees at signing. Maintenance and repairs are also simplified since leased vehicles are under warranty for the entirety of the lease.
People from the Cincinnati area and Northern Kentucky who drive fewer than 15,000 miles per year are ideal candidates for leasing. Going over the mileage limit results in steep penalties. Leasing also has strict wear and tear guidelines, so the vehicle must be returned in excellent condition.
The Advantages of Financing
Financing allows you to spread out the cost of a car over several years. By making a down payment upfront followed by lower monthly payments, it puts people in cars they otherwise couldn't afford. Financing also gives you the freedom to customize or modify your car however you want.
Another big plus is that there are no mileage restrictions like with leasing. You can drive as much as you want without worrying about penalties. At the end of the finance term, the car is yours to keep, sell, or trade in.
Financing tends to work better for people who put a lot of miles on their car or want to keep it long-term. Interest rates are still quite low these days, so it's an affordable way to buy.
Let the Experts Help You Decide
As you can see, both leasing and financing have their advantages. To determine which is better for you, stop by our finance center at Jeff Wyler Eastgate Chevrolet in Batavia, OH. Our finance experts will explain all your options in detail. We serve drivers from the Cincinnati area and throughout Northern Kentucky.