MAKE AN INFORMED DECISION

Choosing between leasing and financing is as important as choosing the right vehicle. Below are some benefits of both leasing and financing to help guide your decision.

LEASING

In a lease, you do not purchase an automobile. You contract to use it for the first, and best, period of its life. Following are some additional benefits to leasing.

LESS CASH UP FRONT - One of the biggest advantages of a lease is that it does not usually require a substantial down payment. In many states, you can even pay the sales taxes as part of your monthly lease payment, rather than in a lump sum.

LOWER MONTHLY PAYMENT- If the finance period is the same, your monthly payments will be lower when leasing than financing because your payments will be based on the vehicle's estimated depreciation. You are contracting to use a portion of the car's value, rather than buying the entire car.

A NEW CAR MORE OFTEN - Your taste and preference may change, and a short-term lease makes it easy to drive a new car more frequently. Additionally, you may have needs for a larger or smaller car in a few years, and a lease makes it easy to plan for such changes.

GUARANTEED FUTURE VALUE -You don't have to worry about resale value. If your car depreciates more than the estimated residual value in your lease contract at full term, you can turn it in at the end of your lease term. But if it's worth more, you can buy it and keep it or resell it. A lease gives you an option.

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FINANCING


If you typically keep your vehicle for five to ten years, then financing may be your best option.

PRIDE OF OWNERSHIP - Ownership can instill a sense of pride. It can also build equity. Payment by payment, an owner's equity may increase.

NO RESTRICTIONS ON MILEAGE -This is important to consider if you drive more than 12,000 to 15,000 miles per year.

MAKE CHANGES TO CAR'S APPEARANCE - You can alter the interior or exterior to suit your taste, though your choices may affect the resale value.

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