Buying vs. Leasing
Buying vs Leasing
When shopping for a new vehicle, we realize you have many options. The experts at Andy Mohr Chrysler Dodge Jeep Ram (CDJR) are available to answer all your questions about getting the best value for your new car, truck, van, or SUV.
One of the most frequently asked-about topics is the difference between buying a new car vs. leasing it. Whether buying or leasing is best for you depends on several factors.
Below are some points to consider when making this decision. Read through them, then visit our dealership near Indianapolis, Avon, and Bloomington, IN, when you’re ready to get a new automobile!
Pros of Leasing
Have a look at some pros of leasing a car…
- Lower monthly payments: When leasing a new car, monthly payments can fit into nearly every budget to ensure predictability and added financial security.
- Predictable warranty coverage: Basic warranty coverage lasts for the entire term of a 3-year lease, so your vehicle is covered until you trade it in for a newer model.
- Small down payment: Many leases have nothing due at signing, but any down payment required is minimal. However, the more you pay at signing, the lower your monthly payments will be.
- Easy trade-in process: When your lease term ends, simply bring your vehicle back to the dealership to trade in for a newer model. There's no need to worry about selling your trade-in!
Cons of Leasing
On the flipside, here are some reasons why leasing may not be for you…
- Lack of equity or ownership: You’ll need to return the vehicle to the dealership when the term is up.
- Limits on miles driven: Lease terms have a maximum mileage as part of the agreement.
- Can’t personalize the vehicle: Aftermarket accessories can’t be placed on a leased model.
Despite the cons, if you enjoy regular upgrades to the latest in technology and innovation, then leasing is the choice for you. We’ll help you understand the terms of your lease so that you can start driving a new model confidently.
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Pros of Buying
Now that we’ve discussed some pros of leasing, here are the advantages of buying a vehicle…
- Own your car and do with it as you please: You can customize your car’s appearance, performance, and anything else however you want.
- Can sell or trade later: Since the car is yours, you can sell it for cash or make a trade for a new automobile.
- Unlimited driving: There are no limits on what you can do with your car and where you can go!
Cons of Buying
Now, here are some potential disadvantages to buying an automobile…
- Higher down payment: You’ll need to put more money down to start driving the vehicle.
- Monthly payments can be higher: You’ll be paying for the car’s full value rather than just depreciation.
- Maintenance of the vehicle is your responsibility: If the new model warranty ends, you’ll be responsible for repairs.
- Depreciation: The vehicle will lose value over time.
If you’re still interested in buying, we can help you bring your new car home regardless of your financial situation. We’ll help you find the loan that suits your lifestyle, so you can start your drive with peace of mind.
Finance Center
Whether you apply for financing online or at the dealership, we can make the process quick and easy. Our friendly and knowledgeable financing team can answer any questions and help you find the best option to finance your new car, truck, van, or SUV.
Our finance team takes pride in its ability to offer terrific financing deals while remaining straightforward and transparent throughout the process. Fill out the online financing application today or visit our welcoming staff to learn more about the best financing options.
Finance Center
Buy or Lease a Chrysler, Dodge, Jeep, or Ram Today
Residents of Indianapolis, Avon, and Bloomington, Indiana, can rest assured that they’ll always get the best value for their new car, truck, van, or SUV at Andy Mohr CDJR. We believe that when each of our team members performs like a champion, each of our clients will be treated like a champion.
When you visit our showroom, you'll find the best sedans, family-friendly SUVs, rugged 4x4s, performance trucks, and multi-passenger vans. Our sales and finance teams are dedicated to working closely with each customer to determine options that best fit their lifestyle, budget, and driving routines—even offering some vehicles under $20K.
Stop by to learn more about our inventory, see whether buying or leasing is right for you, and test drive your favorite model today!