Chrysler Jeep Dodge Ram Finance Center Near Mt. Pleasant, MI

Buying vs. Leasing

Another financial route you may have considered is leasing a vehicle. So, what are the differences between leasing and financing? There are quite a few characteristics that set these options apart, as well as benefits that are dependent on your preferences.

• You’ll build equity in a financed vehicle because you will ultimately own it. When you lease a car, you’ll only pay for the amount of time you use it. At the end of the lease, you will not own the vehicle.
• You can drive your financed vehicle as many miles as you’d like. Leased vehicles come with mileage limits.
• A leased vehicle is generally always covered by the manufacturer warranty, so repair costs are lower. Once the warranty expires on a vehicle you own, all repairs will be out of pocket.
• If you like experiencing new cars every few years, leasing is a hassle-free way to do so. If you own your vehicle but want to replace it, you’ll have to go through the process of selling it and transferring the title to the next owner.