What's the Difference Between Buying, Financing, and Leasing a Vehicle?

Is it time for you to get a new car? If so, it's important to under your three main ways to accomplish this goal here at Robert Green Chrysler, Dodge, Jeep & Ram. You can either choose to buy, finance, or lease your vehicle. While they all might sound similar, there are differences between these three options. Learn more and visit us here in Monticello, NY to learn more. You will find Robert Green Chrysler, Dodge, Jeep & Ram right here in Sullivan County, just a half-hour away from Middletown, NY.

Buying

This option might be the simplest for many; when you buy a car, truck or SUV, you're essentially paying for it in full. However, this option understandably isn't easy for most who do not have thousands of dollars to spend out-of-pocket. But buying is a wise option for new vehicles or even bargain-priced used cars since you won't have to worry about any kind of interest. Buying an automobile also means you don't have to keep track of monthly payments for this vehicle.

Financing

Fallsburg, NY customers also have second option: to finance their next car. Understandably, many people confuse financing with leasing. Financing a vehicle involves making monthly payments towards an auto loan, with a down payment, much like leasing. A key difference when comparing financing vs leasing is that the former option is working towards buying an automobile. Once the total cost of the car is aid off, it's yours to sell, keep, gift, or trade as you like!

Leasing

Lastly, there's also the option of leasing your next automobile. Leasing is an extremely popular option. Unlike financing, you won't become the owner of a vehicle you're leasing. Instead, you can use this vehicle for the length of your lease. Once your leasing period is over, you can decide whether to return or purchase the automobile. Leasing is similar to financing because you're making monthly payments to drive a new automobile.

We hope this information helped you learned more about your options for buying a vehicle. Whether you're ready to buy, finance, or lease your next vehicle, we hope that you do it at Robert Green Chrysler, Dodge, Jeep & Ram. Plus, we're a short distance away from Liberty, NY in Monticello. After you arrive, one of our finance experts will help you choose the best way to get a new vehicle. Visit us today!