If you're in the market for a brand-new car that can get you from point A to point B, then you should explore all of the options that are available to you. This means that you should explore both purchasing and leasing options. Understanding both thoroughly can help you make the most informed decision. Below is a breakdown of each according to the Melloy Dodge team.
Should you buy a vehicle? Purchasing one enables you to own it in full. It may end up costing you less money when all is said and done. If you drive a car you purchase extensively, you don't have to deal with any irritating financial repercussions. Buying can also give you a degree of freedom. If you opt to purchase a vehicle, then you can trade it in or sell it at any point. It can, in many situations, be a great financial investment.
If you lease a vehicle, then you don't own it. However, there are various perks associated with leasing. Leasing a vehicle can be appropriate for individuals who appreciate the idea of reduced payments each month. This option can be suitable for those who do not want to have to cover steep down payments. It can also be ideal for drivers who don't want to have to set aside a lot of money for repair work. However, it’s important to be aware that any damage to the vehicle beyond 'typical wear and tear' will be your financial responsibility. If you want to be able to drive a fresh car more frequently, leasing may be the most preferable option as you don’t have to lease the vehicle for the entirety of its life.
Whether you are looking to lease or purchase a new vehicle, the team at Melloy Dodge can help! We have an extensive selection of pre-owned and brand new vehicles on hand. Reach out to us today for more information on which purchase option is best for you.
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