Should You Lease or Buy Your New Chevrolet at Mike Reed Chevrolet in Hinesville?
There is nothing quite like bringing home a new car. When you have decided which Chevrolet model here at Mike Reed Chevrolet is perfect for your needs, your next step will be deciding whether you want to lease or finance. Both options have definite perks, and what works best for one Hinesville driver will not necessarily make sense for another. Luckily, our team includes finance experts who can help you make the right decision.
Differences Between a Lease and a Loan
When you lease a vehicle, you bring it home for a set amount of time. Although lease terms vary, they typically last three or four years. You make monthly payments until your lease is up, and then you return the car, truck, or SUV. When you take out a loan, you will still make monthly payments. The difference is that every payment is building equity in your vehicle. Once the final payment has been made, you will own it outright.
Benefits of Leasing
At first glance, a loan may seem superior to a lease. There are some significant benefits to leasing, however, that may make it more appealing to Fort Stewart and Garden City drivers. The monthly payments on a lease are often lower than on a loan, which can be very persuasive when looking at your budget. A down payment is typically required, but it is usually less than what you would be looking at with a loan.
During your lease, your new vehicle will likely be covered by a warranty that can save you money on repairs. When the lease is up, you can swap out the car for a newer model or try something completely different. In many cases, you also have the option to buy the car you have been leasing. A lease may be the smarter option for Savannah and Pooler drivers who enjoy keeping up with the latest tech and safety features. The same is true for people who do not plan on sticking with the same vehicle for over a few years.
Benefits of Financing
Taking out a loan to bring home your new Chevrolet also has benefits. Although the down payment and monthly payments are higher, you are investing. There is more freedom with a loan as well. Leases often restrict the mileage you can accumulate over a set period. If you have a long commute or like to go on long drives, a lease may not work for your needs.
You also cannot customize a leased vehicle the same way you can something you are buying. When you go to turn in your leased vehicle, it is expected to be in a similar condition to when you received it. For that reason, many parents with small children go with a loan rather than a lease. If you like to drive the same car for an extended period, a loan will be the way to go.
Find the Right Financing at Mike Reed Chevrolet in Hinesville
As you can see, many factors go into deciding between a lease and a loan. Our experts can help you decide which path makes more sense for your driving and financial needs. We have a wide network of banks and other financial institutions to work with, allowing us to present Hinesville drivers with options that will fit their needs. Whether you ultimately decide to go with a lease or a loan, our team is here for you every step of the way. We hope to see you at the finance center at Mike Reed Chevrolet soon. Be sure to check out our new inventory, including the new Blazer, Colorado, Silverado 1500, Suburban, and Trailblazer.
How Can We Help?
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MIKE REED CHEVROLET, INC.
1559 E. Oglethorpe hwy
Hinesville, GA 31313
- Sales: (912) 209-4025
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