Buy VS Lease
BUY OR LEASE - WHAT'S RIGHT FOR ME
How do you know whether a lease is right for you? As your deciding what your next vehicle will be, another thing to consider is whether you should buy or lease.
The main difference between the two comes down to:
If you like having the latest and greatest every few years, a leased vehicle may be the best route to take.
If you like to own your vehicle, without the worry or limitations of a contract, you may want to buy.
Maybe your a mix of the two?Read on to learn more about both options to find the best fit. Have questions? Our team is here to answer your questions.
OUT OF POCKET COSTS:
LEASE:
On top of a down payment, taxes, registration and other associated fees, a typical lease will require you make the first month’s payment and put down a refundable security deposit. When you get your lease with the Bill Dodge team, your security deposit may be waived though.
PURCHASE:
You'll need to have money for taxes, registration, and other fees. These will be included in the final price when buying outright. If you're taking the financing route, you'll also want to consider what your down payment will can affect the monthly payment of your loan.
MONTHLY PAYMENT:
LEASE:
You may find that lease payments are lower because you are only paying for the depreciation of the vehicle during your specific lease terms.
PURCHASE:
If you finance, loan payments are typically much higher than lease payments because you are working to own the car once payment terms are complete.
DRIVING STYLES, LIFESTYLE, & HABITS:
LEASE:
Do you travel more than 12,000-15,000 miles/year? If so, leasing a vehicle may not be the right fit. Your lease includes the negotiated miles, and If you drive over them, you will have to pay. Typically it costs around $0.15/mile over your limit.
PURCHASE:
Buying may be the right option for you if you like to personalize your car. With a leased car, depending on the terms, you may not be able to perform any modifications. If you buy a car, you have the right to customize it however you would like and you do not have to worry about breaking lease terms.
EARLY TERMINATION:
LEASE:
Ending your lease early can be very costly and most of the time will be just as expensive as sticking with your original contract.
PURCHASE:
If you buy your car, you can sell it whenever you would like. Money from the sale can be used to pay off your loan balance or you you can pocket any money made from a vehicle that has been fully paid off.
END OF TERM:
LEASE:
When your lease is up, you can choose to purchase the car outright or you can walk away and get a new car.
PURCHASE:
When you purchase a car, and your loan is paid off, you can do whatever you would like with the vehicle.
Do you have questions on whether you should buy or lease your next car? Visit our dealership located in the Westbrook . The friendly finance department at Bill Dodge Kia would be happy to answer any questions you may have about buying and leasing programs.
| Monday | 8:00AM - 7:00PM |
| Tuesday | 8:00AM - 7:00PM |
| Wednesday | 8:00AM - 7:00PM |
| Thursday | 8:00AM - 7:00PM |
| Friday | 8:00AM - 6:00PM |
| Saturday | 8:00AM - 5:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 5:00PM |
| Tuesday | 7:30AM - 5:00PM |
| Wednesday | 7:30AM - 5:00PM |
| Thursday | 7:30AM - 5:00PM |
| Friday | 7:30AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |
| Monday | 7:30AM - 5:00PM |
| Tuesday | 7:30AM - 5:00PM |
| Wednesday | 7:30AM - 5:00PM |
| Thursday | 7:30AM - 5:00PM |
| Friday | 7:30AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |
Warranties include 10-year/100,000-mile powertrain and 5-year/60,000-mile basic. All warranties and roadside assistance are limited. See retailer for warranty details.