his is a question that has been asked time after time by people from all walks of life; would it be better to lease a Chevy in Naperville or buy one outright? Like many things there is no one definitive answer; it depends on a number of variables. Think of it this way; a lease and a loan to buy a new car are just two different ways to finance a vehicle. In one case the individual is financing the use of the car while in the other case the individual is financing the purchase.
There are significant differences between buying and leasing a car:
When you purchase a new Chevy in Naperville you are paying for the vehicle, how many miles you drive it does not enter the picture. Typically you use a trade-in plus cash as your down payment, pay any taxes and then enter into a loan agreement. For the duration of the loan you make agreed monthly payments, if you wish you can sell the car or trade it in before the loan is fully amortized.
Leasing a new Chevy in Naperville is different, you only have to pay a portion of the cost of the car; this is the part that you agree to pay during the duration of the lease. Leasing a car is not the same as renting it, you do not have to put any money down; taxes are applicable to your monthly payments. At the end of the term you are given two choices; you can simply turn the car in to the dealer that originated the lease or you can buy the car for its depreciated value.
If you drive less than 15,000 miles a year, want a new car with no money down and lower monthly payments a lease makes sense. On the other hand if you want to own your new Chevy in Naperville and then be free from car payments at the end of the loan term then buying a car is your best bet. Contact Hawk Chevrolet Cadillac today!
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