Buy or Lease
Here are some questions to ask yourself to determine if a lease might be right for you. If you say YES to most or all of these questions, then be sure to have us present you with some leasing options to consider. Many of our employees at Bernard’s Chrysler Dodge Jeep Ram lease their own vehicles, and still others lease used vehicles as well!
- Do you typically have a vehicle payment?
- Is your budget limited? Could a costly repair be devastating?
- Would it benefit to always have roadside assistance and free loaner privileges?
- Do you drive 12,000 miles per year or less?
- Are your driving habits stable with no plan to make any life changes?
Leasing might be the best option for you if…
You drive less than 15,000 miles per year. The fewer miles you drive, the more likely you are to be a candidate for a lease. You can lease if you drive over 15,000 miles per year, however, the advantages will lessen.
You want to be under a full or powertrain warranty to avoid costly repairs. Although you need to maintain and repair your leased vehicle, just as you would a financed vehicle, because you typically lease for 3 years, the vehicle is normally under warranty or can be for an additional low cost.
The vehicle you want is out of your price range. Many people prefer to drive a vehicle that is priced above their means with optional equipment. Leasing provides a solution to that.
Buying might be the best option for you if…
You drive more than 15,000 miles per year. When you lease a vehicle, you are capped at miles a year without paying a penalty. Additional mileage can cost you up to .35 cents per mile.
You like personalizing your vehicles. If you enjoy personalizing cars, this investment can be lost on a leased car, unless the accessories can be easily transferred or sold.