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Goss Dodge Chrysler

1485 Shelburne Rd
Directions South Burlington, VT 05403

  • Sales: 877-399-5206
  • Service: (888) 781-3403
  • Parts: (888) 703-1837

Leasing Pros and Cons

When you're perusing the market for a new vehicle, you may consider the possibility of leasing rather than buying your new vehicle. If so, there are a few leasing pros and cons you need to know about in order to make the most informed decision that will work best for your situation.

Leasing Pros

Leasing a vehicle means that you make monthly payments to rent the vehicle you drive rather than to own it. Let's take a look at some of the more appealing leasing pros: 

- When you lease a vehicle, you're free to get a new car every few years after your lease term ends. This is especially attractive to those who enjoy vehicles that feature the latest and greatest technology since new technological innovations are continually being incorporated into our vehicles.

- Monthly lease payments are lower than monthly loan payments. This gives you the advantage of potentially driving a much more expensive vehicle than you may be able to afford to buy.

- Leasing also comes with certain financial incentives and advantages, like little or no down payment, paying sales tax on the monthly payments rather than the total price of your vehicle, and claiming your car as a tax deduction if it's used solely for business purposes.

- When your lease term ends, returning your vehicle is a hassle-free process as long as you've abided by the terms of your lease. You simply turn in the keys and walk away rather than trying to negotiate selling or trading in your own car.

Leasing Cons

While leasing a car does come with certain benefits, it may not be the best decision for everyone. Here are some leasing cons you should be aware of: 

- You can't back out of a leasing contract. If you buy a car and wind up unable to afford the monthly payments, you can try refinancing or selling your vehicle. If you encounter financial difficulties when you're leasing a car, however, you are still responsible for your monthly lease payments.

- Leasing contracts do include a lot of extra costs like the lease rate, the acquisition fee, or the disposition fee. Unlike when you pay fees when you buy a car, you won't see this money again since you won't own the vehicle.

- This brings us to our next con, which is the simple fact that you don't own the car you are leasing. You may be able to choose to buy the car at the end of your lease agreement, but you are only renting it during the lease period. This means that you can't do whatever you want with the vehicle, and you must keep it in good condition and refrain from driving it more than the amount of miles agreed upon in the terms of the lease.

- If you fail to abide by the terms of your lease agreement, you will be responsible for the wear, tear, and mileage penalty fees. When you own a vehicle, you don't have to worry about these penalties since the vehicle is yours to do with what you will.

Visit Your Local Goss Dodge Chrysler Dealer

If you've decided that buying a vehicle is the way to go after carefully considering the leasing pros and cons, come check out our great selection at your local Goss Dodge Chrysler dealer. We're proud to serve the South Burlington, Vermont, region with a variety of great new and used vehicles. Take a look at our inventory and give us a call when you're ready to schedule a test drive!

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Contact

Goss Dodge Chrysler

1485 Shelburne Rd
Directions South Burlington, VT 05403

  • Sales: 877-399-5206
  • Service: 802-652-5040
  • Parts: 802-652-5050

Hours

  • Monday 8:00am-7:00pm
  • Tuesday 8:00am-7:00pm
  • Wednesday 8:00am-7:00pm
  • Thursday 8:00am-7:00pm
  • Friday 8:00am-6:00pm
  • Saturday 8:00am-5:00pm
  • Sunday Closed