Should I Buy or Lease?

friends eating together

There are so many financial plans when it comes to acquiring a new car in Frankfort, but one of the most important questions is “Should I buy or lease?” The decision to buy or lease is one of the first steps in finding the best financing plan for you. Both options have their benefits, but they depend on your situation and what you want from your new car. Take a look at our guide on whether to lease or buy, or contact South Oak Jeep Dodge Ram Chrysler for more information.

Benefits of Buying

  • You will own your car outright, for as long as you like. There is no obligation to return your car to the dealership.
  • There are no mileage limits when you own your car. Drive around New Lenox all you want without worrying about overages.
  • Buying gives you more customization options.
  • Sell your car if you’d like. It belongs to you.
  • Financing for purchasing a car is more straightforward than leasing. You can choose between multiple sources for auto financing, and you can even apply for financing online.
  • Over time, because you will likely keep a car you own longer than one you lease, you will save money.

couple talking to finance guy

Benefits of Leasing

  • Your down payment and monthly payments are lower when you lease. So are your sales taxes in Mokena, since you don’t own the car outright.
  • Once you’ve leased your first vehicle, it’s relatively simple to trade it for your next lease. Just pay any remaining fees on your old car and choose your next lease.
  • You aren’t stuck with the hassle of trading or selling your old leased vehicle. Just return it to the dealership when the lease ends. As long as you haven’t exceeded the mileage and wear and tear limits, you’re good to go.
  • Stay up-to-date with new models when you lease. Most leases last a couple of years, making it easy to upgrade often.
  • As long as you’re under your mileage limit, your warranty coverage will protect your car.
  • It’s easier to get approved for a lease than it is for a car loan. Even if your credit has taken a hit, you can still drive a reliable new car.

South Oak Jeep Dodge Ram Chrysler Can Help You Decide

Still wondering, “Should I buy or lease?” Now that you know the basics, visit South Oak Jeep Dodge Ram Chrysler and we can answer your questions about about buying vs. leasing. Or, contact us any time with your questions.

 

Latest News from South Oak Jeep Dodge Ram Chrysler

  • 2021 Jeep Compass Interior

    A Jeep interior is surprisingly comfortable given its rugged and durable exterior. You’ll find that the 2021 Jeep Compass is no exception. Loaded with plenty of space, technology features, and convenience amenities, the Jeep Compass interior has everything you need to take your Frankfort drives to stunning new heights. Take a look inside the Jeep…

  • 2021 RAM 1500 Interior

    The 2021 RAM 1500 is known for being one of the hardest working trucks around Frankfort, but did you know it also has the most luxurious interior in its class? It’s true! Now you really can have it all thanks to a host of class-exclusive features and finishing touches that puts this truck in a…

  • 2021 RAM 1500 Towing Capacity

    How much can a RAM 1500 tow? If you have several heavy-duty jobs to tackle on the Frankfort roads, then you might have asked yourself this question once or twice. The RAM 1500 towing capacity tops out at 12,750 pounds when properly equipped. However, this powerhouse truck has more to offer than just impressive towing…

  • Getting Your Vehicle Serviced is Easy

    When you’ve got a Chrysler, Dodge, Jeep, or Ram vehicle that needs to be cared for, the experts at South Oak can help you get the job done.  The service center at this dealership makes it easier for you and allows you to have the care you need when you need it.  Let the experts…