Should I Buy or Lease?

Looking for a new Chrysler, Jeep, Wagoneer vehicle near Conway? Ask yourself, “Should I buy or lease a car?” This is one of the most commonly asked questions amongst North Myrtle Beach area shoppers. 

Fortunately, our Myrtle Beach Chrysler Jeep Finance specialists have the answers you’re searching for. Whether you choose to lease the newest model or finance your vehicle outright, both options have their pros and cons. Discover the benefits and costs of leasing vs. buying with the experts below!

Should You Buy or Lease a Chrysler, Jeep, Wagoneer Car?

So, which is the superior option for your financial situation? Should you purchase a newer vehicle? Or lease a car for a predetermined period of time? We’ve broken down the three biggest factors to consider when approaching the topic of vehicle ownership for your convenience:

Leasing vs. Buying: Payment Flexibility

• Leasing is Simple, As Long as You Properly Maintain Your Car: Just take good care of the vehicle while it’s in your possession, drive it back to our lease return center at the end of your term, and drive back to your Surfside Beach home in a new vehicle. You might also have the option to buy out the lease and bring your leased vehicle home for good.
• Financing Offers Versatility: You’re locked into a contract, but you can sell or trade in the vehicle at any time (provided you have positive equity). You may also be able to refinance for a lower rate down the line. And of course, the vehicle is yours to keep for as long as you like.

Leasing vs. Buying: Customization and Ownership

• Leasing is a Stricter Experience: You’ll have to keep the vehicle as close to factory condition as possible. The dealership still technically owns the vehicle and needs a model that’s in good shape and that they can still resell once your lease expires.
• Buying or financing a Vehicle Gives You Greater Freedom: Feel free to add whatever upgrades catch your eye. You can also modify the vehicle more extensively with custom parts or performance upgrades if you choose, however, do so at your own risk. Certain customizations may void your warranty.

Leasing vs. Buying: Limitations

• Leasing Involves Boundaries: Leased vehicles must stay within certain strict mileage and wear and tear limits. If you violate these restrictions, you’ll be subject to a fee upon the end of your lease.
• Finance and Enjoy No Limits: If you purchase your Chrysler, Jeep, Wagoneer model, you have full ownership. Drive as far as you’d like and put as many miles on the odometer as you’re comfortable with. You will not have to worry about mileage limits or restrictions.

Lease or Buy a New Vehicle at Myrtle Beach Chrysler Jeep

As previously mentioned, there are numerous benefits to both purchasing or leasing a vehicle. Nevertheless, if you’re ready to proceed with your preferred method of payment, we encourage you to fill out our remote auto loan application today! If you run into any questions along the way, you can always feel free to contact us at Myrtle Beach Chrysler Jeep for more information!