Buy Vs. Lease
Should I buy Or Lease?
Considering leasing your next vehicle but unsure if it is a good fit for you? The team at Bill Dodge Hyundai in Brunswick near Westbrook knows there are a lot to take into consideration when deciding to buy or lease your next vehicle.
- Do you like a new car every few years? Leasing may be best for you.
- Do you prefer to not have monthly payments? Purchasing is the way to go so you can own your car.
- Maybe you're a mix between both? Learn more about both options below. Have questions? Give us a call on (207) 209-2926 in Brunswick at Bill Dodge Hyundai.
Upfront Costs:
LEASE:
A lease will usually require a first month’s payment and a refundable security deposit, though your security deposit may be waived at Bill Dodge Hyundai. You should also consider that a down payment, as well as taxes, registration, and other associated fees may come into play.
PURCHASE:
You'll need to have money for a down payment, taxes, registration, and other fees.
Monthly Payment:
LEASE:
You'll find that lease payments are usually lower because you are only paying for the depreciation of the vehicle during your specific lease terms.
PURCHASE:
If financing, loan payments are much higher than lease payments because you are working to own the car once payment terms are complete.
Lifestyle, habits, & Driving Styles:
LEASE:
Do you travel more more than 12,000-15,000 miles/year? Leasing a vehicle may not be the right option for you. If you drive over the negotiated miles, you will have to pay. Typically it costs around $0.15/mile over your limit.
PURCHASE:
Do you like to personalize your car? If so, buying may be the right option for you. When you lease a car, depending on the terms you may not be able to perform any modifications. When buying, you have the right to change whatever you would like and not worry about breaking lease terms.
Early Termination:
LEASE:
Ending your lease early can be expensive and, most of the time, will be just as costly as sticking with your original contract.
PURCHASE:
When buying your next car, you can sell it whenever it best fits you without breaking a contract. One thing to consider, if you financed you may need to pay off your loan. Money from the sale can be used to pay off your loan balance or you you can pocket any money made from a vehicle that has been fully paid off. Alternatively, you can also use your vehicle as a trade in and your remaining balance will be taken into consideration with the purchase of your next vehicle.
End of Term:
LEASE:
When your lease is over you have two choices. You can choose to purchase the car outright or you can walk away and get a new car.
PURCHASE:
When you purchase a car, and your loan is paid off, you can do whatever you would like with the vehicle.
Bill Dodge Hyundai
Address
118 Pleasant Street
Brunswick, ME 04011
Phone
- Sales 207-209-2926
- Service 207-300-6839
| Monday | 8:00AM - 6:00PM |
| Tuesday | 8:00AM - 6:00PM |
| Wednesday | 8:00AM - 6:00PM |
| Thursday | 8:00AM - 6:00PM |
| Friday | 8:00AM - 6:00PM |
| Saturday | 8:00AM - 5:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 5:00PM |
| Tuesday | 7:30AM - 5:00PM |
| Wednesday | 7:30AM - 5:00PM |
| Thursday | 7:30AM - 5:00PM |
| Friday | 7:30AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |
| Monday | 7:30AM - 5:00PM |
| Tuesday | 7:30AM - 5:00PM |
| Wednesday | 7:30AM - 5:00PM |
| Thursday | 7:30AM - 5:00PM |
| Friday | 7:30AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |