Leasing vs Buying a New Car

Why Lease a New Car?

If you prefer to drive newer, safer, more reliable cars, but not commit to a large down payment every few years, and also don’t drive an excessive amount every year, then a new car lease might be the right choice for you. Leasing is ideal for people who prefer to bypass the annoyance of selling and buying every time they want to upgrade to a new car, truck, or SUV.

Why Buy a New Car?

Conversely, if you want long term automotive relationships with a greater sense of ownership and commitment, then buying may be what’s right for you. Car-buying is typically best for shoppers who don’t mind driving the same car, truck, or SUV for over five years or even until it is no longer fit for the street.

Buying vs Leasing: Which Is Right for You?

Being aware of the pros, cons, and overall benefits of leasing vs buying a car or truck is imperative. Be sure to consider repair costs, vehicle ownership, monthly payments, and potential savings when considering the best new car or truck financing type for you.

Buying: Ownership vs Leasing

When considering vehicle financing, new car, truck, or SUV ownership certainly comes with many well-known advantages, most associated with outright ownership of the vehicle. You may not realize, but, there are also some great upsides of leasing, as well. It’s essential to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A meticulous audit of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the optimal choice between leasing and buying a new car.

benefits of leasing vs financing a new car

Monthly Payments

Vehicle lease payments are often less expensive than car financing and loan payments as the typical lease structure is pretty much renting with the option to buy out at the final payment of your lease term. Remember when leasing that you will need a good credit score, and will be asked to carry comprehensive and collision insurance, though the same can be said for the best rate auto loans. Though it might add to your monthly payments, it is also wise to choose a model with the features you want or need, as personal satisfaction is often priceless.

more expensive to buy or lease a new car

Maintenance & Repair

Auto leases often include regular vehicle maintenance & repair. It’s important to remember this when projecting monthly costs of leasing vs ownership. Regardless of which make and model you choose, mechanic bills are an uncertain cost that can quickly add up. And for those who are not certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.

Savings vs Investment

In general, a new car or truck lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning full ownership of the value of the car, truck, or SUV at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximizing investment on a purchased/financed vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.

Lease

Buy

Maintenance & Repair Costs

Typically Included

Not Included

Down Payment

Smaller Down Payment

Larger Down Payment

Monthly Payment

Smaller Monthly Payments

Larger Monthly Payments

Ownership

No Ownership

Pride of Ownership

APR %

Credit-Based

Finance Term

Approx. 2-4 Years

Approx. 3-6 Years

Savings/Investment

Short Term Savings

Long Term Investment

Vehicle Customization

Not Available

Available

Pre-Owned Vehicles

Not Available

Available

Poor Credit Financing

Not Available

Available

New Vehicles

Available

Chrysler Jeep Dodge Ram Lease and Finance Offers In Beaumont TX

Mike Smith Chrysler Jeep Dodge Ram knows that choosing the right Chrysler Jeep Dodge Ram car and financing option is never easy. Our team of experienced Chrysler Jeep Dodge Ram lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Beaumont, TX. We look forward to serving you.

Chrysler Jeep Dodge Ram Lease Deals

CJDR Lease Return Center

Now It’s Time to Decide:

Ask yourself this: do you love changing your car often and hate a huge upfront payment? Customers who love new cars every few years and don’t like paying a significantly high amount every month or hate the idea of a longer finance term may like the idea of leasing a vehicle. Mike Smith CJDR lease deals offer a flexible lease term option, so customers can make an educated decision while choosing a lease deal.

If your answer is “no” to the above question, then purchasing a car is your best option. Once you have settled on the CJDR model you want, check out our specials, lease deals, and all current offers to see what works best for you. We offer a variety of incentives, that are updated monthly, for both leasing and car buying financing option. We recommend customers to contact our local dealers to learn more about the ongoing offers available in their location.

No matter what you choose: lease or buy, our sales experts will assist you all through your new car purchase or leasing journey. Call us or contact us when you are ready and we’ll put our expertise to work for you.

Lease vs Buy Chrysler Jeep Dodge Ram In Beaumont TX | Mike Smith Chrysler Jeep Dodge Ram

Google May 16, 2022

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Google Apr 9, 2022

10/10 would recommend this dealership. Outstanding service all around. Thanks to Joseph Garaffa and the rest of the fine people at Mike Smith Chrysler, I finally got my hands on the truck of my dreams. They made the whole buying experience extremely easy and convenient. Will likely return to this dealership in the future, when the time comes for me to get my sports/ muscle car.

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DealerRater Mar 18, 2022

Great experience Tristen was friendly, professional and knowledgeable . My car buying experience was terrific. The process was smooth and uncomplicated