Lease vs Finance

Have you set your sights on a new Nissan, Jeep, or Dodge near Boston, MA? Well, you have an important decision ahead of you-to lease or finance. Both are great options for you as a Quincy, Brockton, and Norwood, MA, driver; you'll just have to figure out the best fit for you and your needs.

To help you make this decision, our team here at 24 Auto Group has put together this guide on the pros of leasing vs. financing. Read on to see which is the best option for you as you look to get behind the wheel.

The Anatomy of a Finance Plan

Looking at what's involved with financing your new vehicle, you will find that you have to make a down payment. Whatever the difference between your down payment and the value of the vehicle, you will have to take a loan out for. You will have to then pay back this loan with interest for whatever term length you decide on.

Once you have paid back your loan, you will own the vehicle, and the title will be mailed to you.

The Anatomy of a Lease

When it comes to a lease deal, it is not all that different from traditional financing. You will still make monthly payments to drive your vehicle. However, the term will be much shorter, and you won't be making payments towards ownership; you'll be making them to drive the car for a set period of time.

With a lease, you traditionally don't have to pay anything up front, and your monthly payments will be lower.

 

Leasing vs Financing: Comparing the Benefits

Both of these payment options can prove appealing for you as a local driver. With financing, the obvious benefit is that you own the vehicle. This means you can do what you wish with it. Maybe, down the road, you want to add running boards to your SUV to make it easier to climb within the cabin while simultaneously giving it a sportier appearance. Or, you could want to change the paint color. Because you own the car, you can make these alterations.

Leasing does have its own set of benefits, too. Most notably, you have the flexibility. The automotive industry is constantly evolving, with new and improved technology introduced into models every year. Because leases are short-term commitments, with each contract lasting just a few years, you'll have the opportunity to explore new models often and keep the vehicle you're driving present with the times.

It's up to you to determine which option benefits YOU the most. Our finance team is here to help you make this determination, however!




To Lease? To Finance? The Choice Is Yours!

Torn between signing a lease or financing your next ride near Boston, Massachusetts? Well, hopefully, our lease vs. finance guide helped you decide! Still have questions? Please contact our team here at 24 Auto Group. We're proud to serve Quincy, Brockton, and Norwood, Massachusetts, area drivers, and will be happy to help in any way that we can!

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