Thursday, March 16, 2017

Leasing vs Buying a New Car

Shopping for a new car is an exciting time! Test driving vehicles can be thrilling and the possibilities are endless! However, the options can also be overwhelming. You’re not only faced with hundreds of vehicle options, but once you find the car, truck, or SUV that’s right for you, you also have to decide whether to buy or lease. At Melloy Dodge, we have vehicles available for purchase or lease. These two financing options have their pros and cons, so a careful look at your lifestyle will help you determine which option is best for your situation.

Reasons to Lease:

Leasing is great if you’re looking to pay less for a newer car. Leasing a vehicle often means lower monthly payments, with a low down payment. Leased vehicles are typically still covered under their manufacturer’s warranty, and so repair costs are minimal. With a lease, you get to easily transition to a new car every few years without the hassle of selling your car yourself. Just as a word of caution however, be sure to calculate your mileage wisely to avoid end of lease penalties.

Reasons to Buy:

When you purchase a vehicle, you own it, so you can modify it how you want. You can drive it as much as you want without having to worry about an excess mileage penalty. When you purchase a vehicle, you aren’t tied to a lease agreement, you can sell whenever you wish to upgrade. Buying a car is also more cost-effective in the long run.

At Melloy Dodge, we have plenty of options for leasing or buying. No matter what you’re looking for in a vehicle, we have something for you! Right now, you can lease a 2016 Challenger Hellcat for 36 months for just $599 a month. We also have Scat Pack Shaker Challengers available for lease at just $399 a month for 36 months! To learn more about these lease offers and the other vehicles you can purchase or lease, view our inventory online, stop by for a visit, or give us a call! 

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