Car Leases vs. Auto Loans

 

Whenever you need to obtain a new vehicle, it is important to consider your options. Buying a new vehicle upfront is a common choice that carries a lot of benefits with it. However, it is not your only option! You can also choose to lease a vehicle. Our team at Cronic Chrysler has created a list of the advantages and disadvantages of buying and leasing to help you determine which option is best for you.

Advantages of Buying

When you purchase a brand new vehicle, that vehicle is yours to modify as you wish. This allows you to add all of the additional features that you want to your vehicle.

Disadvantages of Buying

It is important to have a good warranty for your vehicle. Unfortunately, the warranties for new vehicles that you buy only last for a limited time.

Advantages of Leasing

We spoke earlier about how important a warranty is for your vehicle. Vehicles that you lease generally come with a warranty that lasts for the entirety of the lease.

Disadvantages of Leasing

Leasing a vehicle does reduce some of the freedom you have to modify the vehicle. Leased vehicles also often have a mileage cap, meaning you can only drive them so far.

After determining which method, buying or leasing, is best for your needs, be sure to check into Cronic Chrysler to buy or lease the new vehicle that is best for you! 

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