Should I Buy or Lease?

When shopping for a new vehicle to enhance your drives from North Haven to Hamden, you might be wondering what the best financial path is for you. Because everyone’s financial situation is different, it’s important to weigh the pros and cons of leasing vs. buying. Take a look at the benefits of both financing and leasing, then kick off the process with Executive Dodge Jeep RAM!

Benefits of Buying

• No Mileage Restrictions: If you frequently drive beyond the Meriden area, buying is likely the best option for you. Leases come with a mileage restriction that will cost you dearly if you breach it.

• Total Ownership: Buying a vehicle gives you complete ownership of your vehicle. This means the dealer will not monitor your vehicle’s condition and you can do with it as you please.

• Customization: If you plan on customizing your vehicle, buying is the right option for you. Leased vehicles must be returned in completely stock condition, while financed vehicles give owners the freedom to customize.

• Ability to Sell: While you can trade-in or sell a leased vehicle in some cases, it’s much more complicated than if you had purchased your vehicle.

• Financing Options: When you finance your car at Executive Dodge Jeep RAM, you may have the opportunity to refinance your vehicle at some point. You also may have more options to lend outside the dealership if you choose to finance.

Benefits of Leasing

• Lower Payments: Lease payments are typically much cheaper than finance payments on comparable vehicles.

• Less Sales Tax: While you have to pay sales tax on your entire vehicle in most states, your lease agreement will likely only include tax on the payments you make on your vehicle.

• Trade-Ins: When your lease agreement is over, you can either lease a new vehicle, or purchase your vehicle for a pre-agreed price.

• Great Coverage: Warranty coverage and maintenance is exceedingly simple when you lease, as nearly all of your repairs should be covered under warranty.

• Options: If you love driving the latest cars with the most advanced features, then leasing is a great option to consider! You can drive home in a new model every few years when you start a new lease.

• High Approval Rate: It’s much easier to get approved for a lease as opposed to a finance plan, so even those with poor or no credit can be approved.

Explore Leasing and Financing Options at Executive Dodge Jeep RAM

No matter what route you plan to take, Executive Dodge Jeep RAM has the experience and expertise to help you! Take a look at our leasing and financing deals, and head over to our dealership near Hamden to find your next vehicle. Don’t hesitate to contact us today if you have any questions for our team.