Choosing a vehicle is a huge decision, and so is deciding how to pay for it. Should you lease or finance? Each option has pros and cons, and what may be best for one customer might not be right for the next.
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Why Lease?
Some Bay Area residents prefer leasing for a variety of reasons. The biggest reason people choose to lease instead of finance is that they want to drive the newest vehicles with the latest tech and features. Leasing allows drivers to take advantage of driving a new car without many of the responsibilities that come with ownership. It’s essentially like renting the vehicle; you drive it for a certain period under certain terms, then return it to the dealership at the end of the lease. Then, you have the option to purchase the vehicle or lease a brand new model. There are financial benefits to leasing, as well. Since there’s no down payment, the upfront cost can be lower. Lease specials can lower your monthly payment even further, even on a brand new upgrade with all the bells and whistles.
Why Finance?
Others in the Bay Area are looking for an investment, and financing is more of an investment than leasing is. Financing allows you to build equity in the vehicle, which can be more of a benefit for some customers. There’s more freedom with financing, too. Despite a higher upfront cost and monthly payment, there are no lease terms to follow when you purchase the vehicle yourself. You can drive it as much as you want and customize it how you like without having to worry about fees. Once you finish paying for the vehicle, it’s yours to do with what you want. You can trade it in and put the value toward your next vehicle, which may be able to help you find an even better model that’s still within your budget.
Find Your Next Vehicle at Carnamic
Still can’t decide whether to finance or lease your next vehicle? A specialist at Carnamic can help you decide! We can go over all of our current specials at each of our Bay Area locations, help you get credit approval, and find the right vehicle for you. Contact us today to learn more!
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