If you prefer to drive newer, safer, more reliable vehicles, but prefer not pay a sizeable down payment every 3-4 years, and also don’t drive an enormous amount of miles every year, then a new car lease may be the right choice for you. Leasing is better for those who would prefer to avert the hassle of selling and buying every time they want to drive a new vehicle.
On the other hand, if you want long term relationships with a greater sense of ownership and commitment, then buying may be what’s ideal for you. Car-buying is typically best for people who do not mind driving the same car or truck for more than five years or even until it’s no longer suitable for the freeway.
Being aware of the pros, cons, and overall benefits of leasing vs buying a car, truck, or SUV is imperative. Be sure to acknowledge factors such as vehicle ownership, monthly payments, repair costs, and potential savings when considering the best new car or truck financing type for you.
When considering vehicle financing, new car or truck ownership certainly comes along with many well-known advantages, most associated with absolute ownership of the car, truck or SUV. You may not realize, however, there are also some nice advantages to leasing, as well. It’s important to consider all financial aspects including interest rate, down payment, monthly payments, term length, buyout payments, depreciation, and maintenance & repair costs, before making a decision. A precise inspection of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car or truck.
Car, truck, or SUV lease payments are often times less expensive compared to car financing and loan payments as the typical lease layout is basically renting with the option to purchase at the end of your lease term. Consider when leasing that you will need a healthy credit score, and will be required to carry comprehensive and collision insurance, although the same can be said for the lowest rate auto loans. Though it may add to your monthly payments, it’s also better to choose a model with the features you want or need, as personal satisfaction is often priceless.
Auto leasing often includes regular vehicle maintenance & repair. It’s important to remember this when projecting monthly costs of leasing vs ownership. No matter which make and model you choose, mechanic bills are an uncertain cost that can quickly add up. And for those of us who aren’t certified mechanics with a full toolset and hydraulic jack in the garage, leasing is likely the best option for peace of mind.
Generally speaking, a new vehicle lease saves money in the short term with lower monthly payments, while buying gets you a long term investment, meaning full ownership of the value of the car at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For the best investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.
| Lease | Buy | |
| Ownership | No Ownership | Pride of Ownership |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| APR % | Credit-Based | Credit-Based |
| New Vehicles | Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Vehicle Customization | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
South Pointe Chrysler Jeep Dodge Ram knows that choosing the right Chrysler Jeep Dodge Ram car and financing option is never easy. Our team of experienced Chrysler Jeep Dodge Ram lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Tulsa, OK. We look forward to serving you.
Ask yourself this: do you love changing your car often and hate a huge upfront payment? Customers who love new cars every few years and don’t like paying a significantly high amount every month or hate the idea of a longer finance term may like the idea of leasing a vehicle. South Pointe Chrysler Jeep Dodge Ram lease deals offer a flexible lease term option, so customers can make an educated decision while choosing a lease deal.
If your answer is “no” to the above question, then purchasing a car is your best option. Once you have settled on the CJDR model you want, check out our specials, lease deals, and all current offers to see what works best for you. We offer a variety of incentives, that are updated monthly, for both leasing and car buying financing option. We recommend customers to contact our local dealers to learn more about the ongoing offers available in their location.
No matter what you choose: lease or buy, our sales experts will assist you all through your new car purchase or leasing journey. Call us or contact us when you are ready and we’ll put our expertise to work for you.
Found all the discounts available and did a great job. They had a shuttle drive me after I dropped the vehicle off.
The service advisor was accommodating and listened to my concerns and needs. They were able to work with my schedule.
Salesman was pleasant to work with, knowledgeable, not pushy, gave us room to look around, and presented several options based on our requirements.
The dealership was clean. Wish there were more amenities such as a vending machines and WiFi.
The facilities was clean, and all employees were professional, helpful, honest, and extremely pleasant to work with. My sales person did an excellent job working with me to find the exact truck that I described to him and was looking for. The finance manager explained everything to me in a way that was easy for me to understand what I was signing and what I was agreeing to. My trip to Southpoint search the experience that all future vehicles I buy will be at Southpoint
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