Buy or Lease | NY Chrysler Financing

If you're unsure whether you should buy or lease a car, consider your lifestyle. For example, if you'd only like to keep a car for a short span of time, leasing would be the way to go. But, if you're looking for a long-term commitment, buying is definitely the choice for you. There are several pros and cons when considering either option.

If you're thinking about leasing, you'll be able to drive a newer car for less money due to a lower down payment, lower monthly payments, and lower repair costs. Once the lease ends after two or three years, you can trade for a new car with no hassles. Lastly, you're only responsible for the sales tax on the portion of the car that you finance. On the other hand, the disadvantages to leasing a car are just as lengthy. If you decide to sign an often confusing lease, you will be paying for a car that you will never truly own; this means no modifications of any sort. Also, leasing can become more expensive in the long run due to early termination fees, and excessive end-of-lease charges for wear-and-tear and mile overages.

If you decide to buy a car, you can take pride knowing its completely and totally yours. This means that you do as you please with the car. Feel free to add new rims or orange flame decals, to add as many miles as you want to the odometer, and to sell your car whenever for whatever you want. On the flip side, buying a car usually requires higher down payments, increased monthly payments, maintenance responsibilities, trade-in or selling hassles when it's time for a new car, and depreciated value.

In the end, the decision to buy or lease depends on you and what you want to get out of a vehicle. Feel free to contact our NY Chrysler financing dept. with any questions, we are here to help!