McDonald Volvo is Here to Help You Decide What's Best for You
-
There are benefits to both buying and leasing a vehicle. If you're the type who doesn't want to commit to the same vehicle for a decade or more, then leasing would be the best choice for you. If you are looking to "play for keeps" in terms of car-buying, then you should most definitely buy the car. If you're aiming to lease a vehicle, give this list of pros and cons a look:
-
-
Pros:
-
-Low Down Payments - Discuss with the dealer about the limit of your monthly payment. Although, the more upfront cash you hand over, the lower your monthly payments.
-
-Low Monthly Payments - Since you are only paying off the depreciation on the car -- not its full value -- your monthly payments are much lower since you're only paying off the depreciation of the car.
-
-Easy Turnover - When your lease agreement is up, just return to the dealer, hand over the keys, and drive out with a brand-new car and a new lease.
-
-
Cons:
-
-No Equity - Similar to paying rent on an apartment, your lease payments don't go towards owning anything. The payments will be continuous.
-
-Lack of Flexibility - You pay a big penalty if you want out of the lease before the full term. Getting out of your lease agreement early may cost you as much as six extra months of payments, depending on your leasing company.
-
-You May Pay Extra - Most leases charge an extra .12 or .15 cents for each mile you drive over a certain limit. Typically the lease agreement grants 12,000 to 15,000 miles per year (drivers average 15,000 miles per year). Also, you'll have to pay up for any damage to the car beyond normal wear and tear when you turn it in.
-
-Car Insurance May Come Up Short - If you total the car or it gets stolen, your insurance will only reimburse you for the car's market value, which might not cover what you still owe on your lease. You can buy extra "gap coverage" to protect against this, and some lease deals include it automatically.
-
-
At McDonald Volvo Cars in Littleton, Colorado we believe in providing our customers with the best car buying or leasing experience possible. Contact us or view our current inventory of luxurious Volvos today!
-
-
