Buying vs. Leasing – What’s the Difference?
If you’re like most drivers in East Hill or Manhattan shopping for a new vehicle, then there’s a good chance that you’re working on a budget. This means you probably won’t be paying for your new car up front. Instead, most people who shop here at Major World Chrysler Dodge Jeep Ram will choose to finance or lease their new vehicle, whether it’s a new Jeep Wrangler or the latest Dodge Durango.
Benefits of Buying
Many people who come to our dealership from Westbury and the surrounding areas want to finance their vehicle. There are a variety of different advantages, including:
- Ownership – Each monthly payment you make on a financed vehicle is helping you build equity. By the time you finish paying off the vehicle – usually 36, 48, or 60 months – you’ll own the car outright.
- Customization – When you own your car, you can do what you want with it. Add a custom paint job, put in a custom stereo system, or install performance-enhancing equipment. You won’t be penalized for making it your own.
Benefits of Leasing
The other option is to lease a vehicle. With this option, you borrow the car for a period of time and have the option to purchase it or return it when the lease term is up. There are also a variety of different advantages to leasing as well:
- Affordability – In general, vehicle leases come with lower down payments and lower monthly payments. This means that you can afford to drive a nicer vehicle for less, while keeping more money in your account every month.
- Newest Features – Leases usually come with shorter terms than financing plans, usually 24 or 36 months. This means that as soon as your lease is done, you can bring it in and get a new lease on a vehicle with the latest technology, performance, and design features installed.
Explore Your Finance Options at Major World Chrysler Dodge Jeep Ram
Which is the better option for your next car? Visit Major World Chrysler Dodge Jeep Ram to take a test drive and chat with our finance staff about the differences between financing and leasing. If your interested in starting a ridesharing service, check out our Uber & Lyft car buying specials. Contact us to learn more or visit our showroom in Long Island City. Whether you want to explore our inventory at large or compare Dodge vehicles, we can help. You can even ask us about our recommended brunch restaurants in Long Island City!
More from Major World Chrysler Dodge Jeep Ram
Gladiator InventoryLearn More Named 2020 North American Truck of the Year™, the 2020 Jeep Gladiator is a powerhouse pick-up available with a vast range of options to ensure the model you end up driving home fits your needs and wants in every way possible. To see what we mean, just take a look at available…
If you’re a Long Island City driver who has a unique sense of style and enjoys exploring the road less traveled, then you should explore the interior and exterior 2020 Jeep Renegade colors. Designed with all the Jeep capability you love in a subcompact package, the Renegade allows you to take your show on the road and…
The 2020 Jeep Cherokee comes from Jeep’s lineage of rugged cars. You’ll make a scene on the roads of East Hill and absolutely tear it up off the road. From the mud to the trails, you can have your type of fun in this menacing compact SUV. There are an impressive array of Jeep Cherokee trim…
A top safety pick from the IIHS and with great customer reviews, the 2020 Jeep Renegade is a favorite among Long Island City drivers. Designed as a subcompact SUV, the Renegade is the ideal compact car for drivers who love the great outdoors but don’t want to haul a lot of extra equipment with them. Explore the…
The 2020 Jeep Compass has enough seating for five passengers and a comfortable interior flush with convenience features to help you stay more alert and more connected to your vehicle than ever before. What are these features though, and how will they improve your Long Island City commute? Explore the 2020 Jeep Compass interior with Major World Chrysler Dodge Jeep Ram to…
Long Island City area drivers are ready to test drive the highly-anticipated Jeep Gladiator. The competitive truck is catching eyes on roads from East Hill to Manhattan. Need a vehicle that is capable of taking on any challenge? While many drivers already know that the all-new Jeep Gladiator is Trail Rated® and ready for off-road adventures, Long Island City want…