BENEFITS OF LEASING

MONTHLY PAYMENTS

Monthly lease payments are usually lower than purchase payments with automobile loans. Your lease payment covers the depreciation of your new vehicle, and the monthly financed payment is calculated against the full sale price of the vehicle, plus accrued charges. However, insurance premiums can be higher when leasing than buying.

This may give you a higher monthly cost. Lease deals typically stay within the factory warranty terms, so you can expect a lower cost for repairs and maintenance when leasing in comparison to buying.

TRADE-IN & VALUE

After the lease term on your vehicle ends, you are responsible for paying any end-of-lease costs. You can also turn in your leased car before your agreement ends if you want a new vehicle sooner. Or, you can pay for the remaining sale price balance of the vehicle and keep it. You can also return your vehicle and walk away from it at the end of your lease deal.

UPFRONT COSTS

Upfront costs for a lease deal may include a down payment, first month’s payment, sales tax, security deposit, acquisition fee, service fee, optional warranties and accessories, and other government fees. You could also pay $0 at signing, depending on the available options. Ask a product specialist at Griffin Chevy in Milwaukee about our no money down lease specials and take home a new vehicle for less.

TOTAL COSTS

On average, your monthly payment when leasing a car, truck or SUV will be less than buying (sometimes by half!) because of the savings on depreciation, gap coverage, sales tax and maintenance & repairs.

BENEFITS OF BUYING

MONTHLY PAYMENTS

On average, a monthly vehicle purchase loan payment is higher than a monthly lease payment. Your payment includes the purchase of your new vehicle, accrued interest, finance charges, and taxes.

However, your monthly auto insurance payment may also be lower as insurance premiums tend to cost less with purchased vehicles in comparison to leased vehicles. Keep in mind (depending on the length of time you own your new car, truck or SUV) expect to pay more out-of-pocket costs for repairs & maintenance.

TRADE-IN & VALUE

After you pay off your auto loan, you own it. You do not have to turn it in anywhere or pay any additional fees. However, if you decide that you would like to upgrade to a newer vehicle, you would need to sell it on your own or trade it in at the dealership.

UPFRONT COSTS

Taxes and fees are included in your loan when purchasing. When you take out an auto loan, you are paying for the entire retail purchase price of the vehicle. In a lease, you are paying for the depreciation of the vehicle, and this carries a far less expensive cost. Many banks will require a down payment when purchasing a vehicle. Any additional service contracts or accessories can usually be financed into your auto loan as well. Terms are available up to 84 months and 0% APR financing may be available on select models.

TOTAL COSTS

The total costs of buying a vehicle can be more expensive than leasing because of higher costs of depreciation, gap liability, maintenance & repairs, sales tax, cost of licensing, and money value differences. Long-term, costs may be justified because once your auto loan for purchase is paid off, you will no longer have a monthly payment.

GET PRE-APPROVED AT GRIFFIN CHEVY TODAY!

Are you ready to get started on your auto lease or purchase? Then, Today's the Day to visit Griffin Chevrolet! Use our online finance application to get pre-approved and the paperwork will be taken care of before you even visit our dealership. Plus, you can remove any guesswork about your auto lease or purchase deal.

Do you want to speak with a finance expert before applying? No problem. Give our team a call at (866) 662-2650 to discuss all your current options. And, remember, your lease or purchase is affected by the latest factory incentives.

So, check out the vehicle details on our website or visit our dealership in Milwaukee for a test-drive. There are usually thousands to save or low APR Financing options available.