There can be a great deal of excitement in shopping for a new or used vehicle at Upstate Chrysler Dodge Jeep Ram in Attica NY. But the enjoyment doesn't have to stop when it's time to talk about financing. The specialists in our finance center can take the mystery out of paying for your next vehicle. They listen to your needs before making a recommendation and they're here to help you get the most affordable financing.
Affordability starts by finding a value-priced vehicle
Look for a vehicle that gives you a lot for your money and allows you to stay within your monthly budget. Even before you start shopping, take a few minutes to find out how much of a loan or lease you can be approved for. Buyers from Perry and Batavia, NY can find that out by submitting our secure online financing application to get approved in advance. That will allow you to focus your search on cars, trucks or SUVs that fit your financing.
Some advantages of getting a car loan
Financing a vehicle with a car loan is by far the most popular choice and it's the best financial decision over the long run. When you finance a vehicle with a loan, you’re building cash value in the car you drive every time you make a monthly payment. That's real money with your name on it and it can someday help you pay for your next vehicle.
In addition to helping you build a share of the value of your vehicle, you’re gradually working toward the day when you can own that vehicle outright. That will allow buyers from Warsaw and Pavilion, NY to say goodbye to monthly car payments. Those are all advantages you can't get with a lease.
Some of the challenges you might have with a car loan
A car loan requires a bigger down payment than what you’d be paying with a lease. In addition, the monthly payments will be higher with a car loan than with a lease. It's also good to remember that a new vehicle will lose a significant amount of its value as soon as you drive it off the dealer’s lot. The good news is that a Wyoming NY buyer will still have a car with thousands of dollars of inherent value and you’ll be gaining a share of that value with every monthly payment.
Some benefits in getting a lease
You can get into a new car lease with a smaller down payment than what’s required with a loan. What's more, a lease gives you lower monthly payments and you won't have to worry about selling that vehicle at the end of your lease. That's because you won't own that car and you won't have any financial stake in it. In addition, a lease is an easy way to get the latest new car styling, features and technology every few years.
Some of the disadvantages of a lease
A lease is like renting a car. You're taking money out of your pocket every month for the privilege of driving that vehicle but you won’t ever have an ownership stake in it. At the end of your lease contract, you have to start all over again when you buy or lease your next car because you haven't accumulated any cash value. A lease has restrictions on the number of miles you can drive each year and you'll have to pay for any excess wear-and-tear.
Learn more at our dealership
Read more about the pros and cons of buying vs. leasing and feel free to stop by our finance center to get the advice you need to make the right decision. We look forward to helping you finance your next new or used vehicle at Upstate Chyrsler Dodge Jeep Ram in Attica NY.
