Lease vs Finance
DO I LEASE OR FINANCE?
Which one is right for you?
Many people are discovering the benefits of leasing at MYERS ORLÉANS CHEVROLET BUICK GMC such as having lower monthly payments,
driving a vehicle more often and enjoying the latest technologies just to name a few.
But, is leasing right for you??
WEIGH YOUR OPTIONS
Leasing offers affordable payments with shorter terms
This lets you…
- Consider vehicles with more options
- Choose your desired trade cycle
- Have peace of mind since most terms are within the warranty period
You have options at the end of you lease
If the vehicle is worth more than the residual value
- Exercise your purchase option and keep it
- Exercise your purchase option and apply the equity to the next vehicle
If the vehicle is worth less than the residual value
- Drop off the keys and walk away (subject to any excess kilometres or wear-and-tear charges)
Conventional loans typically require longer terms to achieve affordable payments
This keeps you…
- From trading into a new vehicle sooner
- Driving the same vehicle longer even when you are ready to trade
Conventional loans have obligations when you trade
- The owner must find a buyer
- The owner assumes all of the risk for unexpected depreciation
- The vehicle’s condition, mileage, and wear and tear will be a factor in assessing the total value of the vehicle
- The owner must satisfy the loan balance regardless of the vehicle value