Buying vs Leasing in Columbus, OH

At Performance Chrysler Jeep Dodge Ram Georgesville, we know that there's many different decisions you have to make when it comes to finding your next new or used car. We’re here to help you with all of those important decisions and provide you the information you need. One of the first decisions you’re going to have to make is whether you should buy or lease your next Chrysler, Dodge, Jeep, or Ram vehicle. If you're not sure what leasing or buying entails you can find information about both below. And when you’re ready, come into our Columbus, OH dealership to learn more from our friendly finance team and to take an exciting test drive!

Finance Department

Benefits of Leasing vs Buying a Vehicle From Our Columbus, OH Jeep Dealership

Find a New or Used Model to Lease Columbus, OH | Upper Arlington, OH | Dublin, OH

Buying: Who Owns It-Whether you pay for the car with cash, or finance it and make monthly payments, either way, it's yours. Of course, if you're financing it, you'll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. Up-front Costs-If you're financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score. Future Value-Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regularly scheduled maintenance by a factory-authorized facility!)End of Payments-Once you've paid off what you owe on your contract, that's it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.

Leasing: Who Owns It-You do not own the car when you lease. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car. Up-front Costs-Leases often do not require any type of down payment. All you usually have to pay is the first month's payment, a security deposit, the acquisition fee, and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront. Future Value-In most leases you don't end up owning it so you don't end up selling it. That's the financial institution's job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in. End of Payments-Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we'll make sure you have your lease set up the way you want it. Best Cars to Lease-The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less.

Choose the Right Car Lease for You

At our Columbus, OH dealership, our main priority is to get you behind the car of your dreams. Let us know how we can help you with your decision to buy or lease today here at Performance Chrysler Dodge Jeep Ram Georgesville. When you buy the new or used car you pay for the entire cost of the vehicle. When you lease the new or used car, you pay for only a portion of the vehicle's cost, which is the part you use during the time you are driving it. The option that’s best for you depends on the vehicle you chose, your credit situation and budget, and lifestyle choices. Let us help you find the payment plan that’s best for you!