Lease VS Buy

Is a Loan or a Lease Best for You?

Finding the perfect car, truck, or SUV in Philadelphia can be challenging. Getting an auto loan or lease to secure the vehicle you want can also be challenging. While there are many advantages to both options, there are also some disadvantages. You will need to know how much your monthly payments will be and what kind of down payment you can afford.

When you visit our finance department at Hessert Chevrolet in Philadelphia, we can discuss your options to see which one is best for your situation. Here are some things to consider about buying or leasing a vehicle.

Buying a Vehicle

Getting an auto loan through our dealership near Bensalem, PA, is straightforward. Once you have approval, you use the whole loan amount to buy the vehicle you want. The benefits of a loan include:

• You have ownership control over the vehicle
• There are no mileage limitations
• You can customize your vehicle
• You can keep your vehicle for as long as you like

The disadvantages of an auto loan include:

• High depreciation
• Lower resale value
• High down payment and monthly payments

Leasing

Leasing a vehicle from our dealership near Langhorne, PA, is like renting. You can keep the car for a specific amount of time. You can trade the car in for a new one at the end of the lease or purchase the vehicle. The benefits of a lease include:

• Low down payment and monthly payments
• You can always drive a late model vehicle
• You can drive a higher-priced vehicle

The disadvantages include:

• There are annual mileage limits
• Possible wear and tear charges if you do not maintain the vehicle
• Possible early termination fee if you return the vehicle before the end of the lease
• You must pay a fee at the end of the lease

Our finance department has helped many people in the Camden, NJ, area get the car, truck, or SUV they want. If you live in the Cherry Hill, NJ, area, contact our finance department to discuss financing your next vehicle. And you can feel free to complete our financing application.

We hope to hear from you soon!