When you’re ready to look for a new car, truck, or SUV, there’s a lot to consider. Fortunately, today’s market offers plenty of choices to suit those with a wide array of tastes and budgets. So, once you’ve picked out the vehicle you want, you now have to consider how to pay for it. Should you lease or finance?
Let’s explore each.
Should You Lease or Finance?
A Look at Leasing
Leasing a car provides some very immediate benefits that are hard to ignore. First, leasing requires little to no money upfront. This is great for those who simply don’t have a lot of money for a large down payment. Second, because lease terms are usually two or three years, your monthly payments will be noticeably lower than if you were to buy the vehicle.
Aside from the obvious financial benefits, leasing a vehicle offers a few hidden money-saving factors. When leasing, more often than not, you’re getting a new vehicle, and you’re only keeping it for three years. That means you’ll most likely avoid the need for any major repairs. Should any repairs arise, some parts may still be under warranty. Some lease options even cover regular maintenance at no cost to you.
Lastly, because leasing can save you money from month to month, you may find you can afford a more-enticing model.
The Power of Financing
Financing a vehicle requires putting money down upfront and making payments until your loan is fully paid off. Fortunately, once your loan amount is paid off, you no longer have any monthly payments. If you continue to bring it in for regular maintenance, you could get plenty of payment-free years out of your car, SUV, or truck — something that won’t happen if you lease.
Another positive of financing that can’t be overlooked is that you don’t have to adhere to strict stipulations like mileage limitations that can come with leasing plans. When an exciting trip is on the horizon, you won’t need to calculate whether or not the terms of your lease agreement will allow it.
Find Your Dream Car With Zimbrick Group
Whether you’re looking to lease or finance, find a Zimbrick dealership nearby and let our team of financial experts help create a plan that suits your budget. Check out our inventory for cars for sale in Madison, Wisconsin, or come in for a test drive.
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