Buy or Lease?


Buying or Leasing: Which is the Best Option for You?

The terminology may confuse some, but buying and leasing are two separate options for those in the market for a new car, truck, or SUV. Each car financing choice has advantages for our Anchorage, Alaska customers, so the finance team at Anchorage Chrysler Dodge Jeep Ram will lay out a few of the reasons why leasing or buying might be a better fit for you. Let's start with an auto lease:

  • When you have a car lease for a set amount of time, you have the option to trade up to a newer model every few years. There is less commitment with an auto lease as you can switch up your driving experience to match your lifestyle. You can easily experience off-road capabilities with a Jeep lease then put the medal to the pedal with a Dodge lease.
  • Instead of paying tax on the price of the car, you'll only pay tax on the amount you pay each month. This could save you a bundle.
  • Your credit score could improve since leasing a car keeps your debt to income ratio lower than buying, and as you make payments towards your lease, your payments have the possibility to reflect on your credit report in a positive way.
  • Everyone knows the rule that once you drive off the lot, your car depreciates in value. Well, not with leasing. When you are leasing a car, you're not losing out when it's time to trade-in. Think of it as car renting for a long period of time, so when you invest in a Chrysler lease or Ram lease, you aren't suffering from the depreciation of your financial agreement.
  • Lower monthly payments are a big bonus with leasing, because you end up paying about 40% less than when buying so there's more money in your pocket. You can also expect a lower down payment compared to traditional auto financing loans.

Moving onto why buying might be a better move:

  • If you expect extremely high mileage on your vehicle, purchasing additional miles on your lease does not make financial sense. When you go over your mileage limit, you'll pay for each mile in addition to your lease agreement. When you purchase your next car, you can drive without mileage repercussions.
  • You'll gain the option to highlycustomize your vehicle with a car loan. Buying is the way to go if you want a vehicle that stands out and is personalized just for you. Whether you're interested in upgrading the sound system, adding custom seat covers, investing in a performance exhaust, a winch, or custom paint, you'll lose the option if you invest in a car lease.
  • If you plan to keep your car for a long time, can pay off the vehicle in three years or less with 0% financing, and do not mind the maintenance expenses down the road, buying can leave you payment-free for many years.     
  • Purchasing a car allows you to ultimately have ownership over your vehicle. Every dollar spent on repairs,maintenance, and service stays with you and your car for as long as you plan to retain ownership. 

To learn more, please stop in at our Anchorage, AK dealership and ask us about our leasing and other financing options. We proudly serve drivers from Wasilla, Palmer, and other nearby cities with premier financing options. We want you to make an educated decision and are here to provide you with the best possible customer service experience. Get started by estimating your credit score, applying for auto financing, or giving Anchorage Chrysler Dodge Jeep Ram a call. We'll be happy to create a personalized plan that takes in to account your trade-in vehicle, current specials, and most importantly, your budget and lifestyle.

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Contact

Anchorage Chrysler Dodge Jeep RAM Center

2601 East 5th Avenue
Directions Anchorage, AK 99501

  • Sales: (855) 813-8156
  • Service: (855) 716-1738
  • Parts: (855) 369-2909
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