Understanding the Difference Between Buying and Leasing

July 31st, 2019 by

Now that you’re ready to bring home your new Volkswagen to Dallas or Hazelton PA, you have to decide how you want to pay for it. While at first deciding which option is best for you might seem confusing or intimidating, the truth is there are a few simple questions you can ask yourself to determine which option will truly fit you the best. Wyoming Valley Volkswagen in Larksville is here to help you through the process so you aren’t left with regrets over your choice down the road.

Benefits of Traditional Financing

Traditional financing is really just a fancy term for taking out a car loan. With this process Kingston,m PA drivers have a choice to balance your monthly payments with several options, making it an extremely flexible option. If you want to pay off your vehicle sooner, feel free to choose a shorter term with the understanding that your monthly payments will increase. Want those monthly payments to fall without extending your term? Use a down payment to reduce the amount you’ll finance. It truly is up to you.

Furthermore, you’ll own the vehicle outright when your term ends, so you can enjoy the freedom of no car payments until you decide its time for a new one.

Benefits of Leasing

A lease offers several benefits including lower monthly payments, the fact that you’re always within the service warranty while you’re paying for the vehicle, and you’ll have a new car to enjoy every 2 years. If you like keeping up with the latest and greatest tech, this might be the option for you.

Cons of Financing

Higher monthly payments
You may out-drive your warranty
Interest rates mean you’ll pay for the privilege of taking out the loan

Cons of Leasing

Any damage or excessive wear will cost you when you return the car
Mileage is limited
You are not allowed to modify the vehicle in any way

Visit Our Dealership Today!

There you have it! A simple overview of the pros and cons of buying and leasing a new Volkswagen in Wilkes-Barre and Scranton. Once you’re ready, head over to our finance application to get started on picking up your next Volkswagen and know that you’re making an informed decision.
Source: Wyoming

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