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1365 US Route 302
Directions Barre, VT 05641

  • Sales: (888) 253-3231
  • Service: (888) 268-5053
  • Parts: (888) 286-8043

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Leasing vs. Financing a Car in Barre, VT

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Purchasing a vehicle is always a big decision. Not only do you need to find one that fits your automotive needs, but you also want to find one that has the features you desire and that you'll enjoy driving. But those are not the only choices you have to make. You also need to decide between financing or leasing your new vehicle. That's why the experts at Midstate Chrysler, Dodge, Jeep, and Ram in Barre, VT have put together this comprehensive comparison of both payment options, so you can choose the best one for you.

Leasing vs. Financing Differences

Both financing and leasing have their merits and drawbacks, so it's important to understand the differences between these two payment options before you purchase a vehicle at our dealership in Barre, VT. Depending on your needs and preferences, one option may be better for you than the other.

   

Financing Advantages

Leasing Advantages

  • You can customize your vehicle with accessories and modifications
  • Avoid mileage restrictions
  • You don't have to worry about excessive wear and tear
  • Once you've made your last monthly payment, you own the car outright
 
  • Lower monthly payments
  • You can upgrade to a new vehicle every few years
  • Lower or sometimes no down payment required
  • Lower maintenance since lease vehicles typically come with a full manufacturer's warranty
  •  

Financing Disadvantages

Leasing Disadvantages

  • You will likely have higher monthly payments than if you lease your vehicle
  • You are responsible for all maintenance and repairs on your vehicle
  • Once the manufacturer's warranty has ended, you will be responsible for any and all repairs your vehicle needs, including major components like the engine or transmission
 
  • Mileage restrictions; typically 12,000 miles or less a year
  • You can't modify the vehicle in any way
  • If there is excessive wear and tear to the vehicle's cabin or exterior, you will incur fees and be responsible for paying for any repairs or damage to recondition the model.

Which is the better option for me?

Auto leasing vs. financing ultimately comes down to personal preference. Leasing is better for people with short commutes and who take really good care of their cars. Financing is a good option for people who value ownership and plan on driving their car for years after they've finished paying back their loan. Regardless of what option you decide to go with, our team of finance experts will help you every step of the way to ensure you get the best possible deal for your monthly budget and lifestyle.

Are you ready to get behind the wheel of a new Chrysler, Dodge, Jeep, or Ram model? Apply for financing from the comfort of your own home using our online finance application. Be sure to also check out our financing and leasing incentives for the best deals available. If you have any questions regarding any part of the purchasing process, reach out to the team at Midstate Chrysler, Dodge, Jeep, and Ram using our contact form or call (888) 253-3231 to speak with one of our finance experts directly.

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