Auto finance loans and lease plans have their benefits and drawbacks depending on your financial situation and day-to-day needs. Factors such as credit score, preference to own a car, and maintenance costs should be considered when deciding whether to lease or finance a new vehicle from Midway Dodge in Chicago. To get a better understanding of whether an auto lease deal or finance plan is right for you, continue reading.
- You will gain full ownership by the end of your auto finance plan. Since you're paying for the entire cost of the vehicle, when you make your final loan payment, the vehicle will be yours.
- It's more cost effective long-term. Instead of paying for a new deal every three years, purchasing one vehicle that will last you 10 years or more is more cost effective.
- You have more freedom. Do you want to take a cross-country road trip? Do you want to add a premium speaker system? Do you want to have the option to sell your car? There's nothing stopping you since you're the owner.
- You will need to make a larger down payment. Paying ten percent of the MSRP of the model you're buying could cost more than upfront costs for lease deals.
- You have a depreciating asset. Cars decrease in value as soon as you drive off of the lot, meaning you lose money if you decide to resell it.
Why Buy or Lease at Midway Dodge
Whether you have poor or outstanding credit, our Dodge dealership will work with you to find an auto finance or lease plan that fits your budget. Learn more about your options today by speaking with a team member at Midway Dodge in Chicago by calling (888) 416-9124. Don't forget to ask about our new vehicle specials to see if you qualify for savings!