Buying:Who
Owns ItWhether you pay for the car with
cash, or finance it and make monthly payments, either way it's yours. Of
course, if you're financing it, you'll have to meet the obligations the
lender requires, like a certain down payment amount and timely monthly
payments. If you don't, they have the right to repossess
it.
Up-front
CostsIf you're financing it, the bank will
probably request a down payment. You can also trade-in another vehicle
and use any equity towards your down payment. The amount of the down
payment is usually based on the lender's requirements and your credit
score.
Future
ValueYour vehicle will be worth whatever
you can sell it for in the future and that depends on how well you
maintain it. (Be smart and protect your investment with regular
scheduled maintenance by a factory-authorized
facility!)
End of
PaymentsOnce you've paid off what you owe
on your contract, that's it. Your vehicle is 100% yours. The lending
institution will send you a Lien Release as proof that the vehicle is
completely paid off and all yours.
Leasing:Who
Owns ItYou do not own the car when you
lease. You're paying for the use of the vehicle, but the finance
institution that you leased it through actually owns it. This is usually
why you pay less per month in a lease than if you were to buy the
car.
Up-front
CostsLeases often do not require any type
of a down payment. All you usually have to pay is the first month's
payment, a security deposit, the acquisition fee and other fees and
taxes. But, as with a purchase, if you want to lower your monthly
payments you can always pay more
upfront.
Future
ValueIn most leases you don't end up
owning it so you don't end up selling it. That's the financial
institution's job. Although you may have mileage limits and wear and
tear guidelines that, if you exceed them, could cost you extra money
when you turn your vehicle back in.
End of
PaymentsMost people return the vehicle at
the end of the lease term. But some like to purchase it during their
lease or at the end. Others like to trade it in before their lease is
over. Just ask us about these different options before signing any
paperwork and we'll make sure you have your lease set up the way you
want it.
Best Cars to
LeaseThe best cars to lease are those with
the best book value after the term of the lease. Since they depreciate
less, you pay less. Review the lease ratings to see which cars retain
their value.
Why Buy a New Chrysler, Dodge, Jeep, or
Ram
If you like the sound of these four statements, a
car loan could be the best choice for you:
- I love to drive, and I don't want to
always be watching my mileage
- I like to travel on some rougher roads, and my car
sees more wear and tear than the average vehicle
- I want to build equity in my car, so when my term
is done I own the vehicle outright
- I don't mind doing the legwork to sell my car when
I'm ready to trade up
Why Lease a New Chrysler, Dodge, Jeep, or
Ram
If you agree more with the statements below,
leasing a new car might be the right option for you:
- I like driving fun, stylish new
cars--even if it means trading up every few years
- I want to pay less upfront, and less per month for
a premium model trim
- I travel 15,000 miles or less per year
- I like the confidence of driving a brand-new car
but don't want to commit to buying
Test it Out! Learn About Your Options and Get a
Quote
Since both lease and auto loan quotes can vary
drastically based on mileage limits, model and trim, credit score, available
financing rates, and even vehicle availability, the best way to get an accurate
quote is by applying
for financing online, or scheduling an appointment to sit down with
one of our specialists.
You don't need to boast the big bucks to get into a
brand-new car. You just need a little bit of help from Jeff Wyler Springfield
Auto Mall! Contact us today, and let's get started.
