Swift Leasing
Weighing
the Facts of Purchasing and Leasing
Now, it's time for what's fast becoming an age-old question: Should
you purchase or lease the new vehicle? Well, it's the same old answer:
it depends. Lets look at some of the pluses and minuses of both alternatives.
Hopefully, this will once and for all help you choose what's best for
you.
A major factor in determining whether to lease or purchase is your monthly
cash flow. For example, if you desire to invest more capital in personal
savings, or times are just plain tight on your purse strings, leasing
may well be the more attractive choice. In general,a monthly lease payment
will run you less than a monthly purchase payment for the same vehicle.
That's because a lease means you're paying only for the portion of the
vehicle's worth that you use. Conventional financing is paying back a
loan for the entire value of the vehicle. However, when all the costs
are tabulated, in the long run,you'll typically pay more to lease a vehicle
than to purchase a vehicle.
Best of Both Worlds
Interestingly enough, you can combine the short-term benefits of leasing
with the long-term satisfaction of ownership. Your lease agreement
may provide you with an option to purchase the vehicle at a set price
upon expiration. If you choose to go this route,you'll likely wind
up paying only slightly more than what you would have spent if you
financed the vehicle from the start.
Purchasing provides you with the privilege to sell, trade or transfer
title of the vehicle at any time. With leasing, even though the title
isn't in your name, you can still realize the value you may have accumulated
in your vehicle. At lease end, you're not limited to either turning the
vehicle in or purchasing it. You also have the option of working out
your best trade-in deal, or you can sell the vehicle outright to a third
party for a profit (after all, a well-equipped off-lease vehicle is quite
an attractive proposition, especially with that low odometer reading).
Driving
Desire
You may want to purchase your next vehicle simply because you take great
pride in ownership, which gives you the right to accessorize the vehicle
as you see fit. And, with no mileage stipulations,you have the personal
freedom to drive as far as you wish.
Leasing, on the other hand, means you can experience the sensation of
driving a new vehicle - with the latest in technology and safety features
-more often. Also, the standard annual driving allowance of 12,000 miles
(that you can negotiate to better meet your driving situation) means
you'll have the added peace of mind of being covered with a bumper-to-bumper
warranty for the duration of the average three-year lease.
Decisions, Decisions
Still unsure of which option is right for you? Chrysler Financial Company
L.L.C., has a lease or purchase plan to suit your situation. The friendly
staff at our dealership is at the ready to assist you with your decision.
Click Here for the meaning of leasing and financing
jargon.