Lease Your Next Vehicle in Boise | Compare Leasing vs Buying

To buy or to lease, that is the question. And, when it comes to a large purchase like a vehicle, it's a pretty big question.
Hopefully we can help clarify the differences and make your decision an easier one.

 

There are advantages to both buying as well as leasing, and much of how that applies to you really depends on your personal situation and driving preferences. Lease programs at Larry H. Miller Chrysler Jeep Dodge Ram give you freedom and flexibility to change, many times with a lower payment than if you were to purchase the same vehicle. Visit us to learn all of your options when it comes to leasing your next vehicle in Boise, Nampa,  Caldwell, Mountain Home, or Meridian. Read below to learn if leasing is the right choice for you.

Advantages of Leasing - Why Lease?

  • Lower Monthly Payment. With a lease, you only pay for the car for the amount of time you actually use it. A lease payment on a 36-month lease will be less than a loan payment on a 36-month loan on the same vehicle. If you like to upgrade your vehicle every few years, leasing would be financially advantageous for you. Payments are typically lower and you don't have to worry about owing more than your vehicle is worth when it comes time to trade up.
  • New Car More Often. Leasing gives you the opportunity to upgrade your vehicle frequently. If you like to drive a new car every few years, this is a great option for you. A lease provides you with the latest in safety and technology features, and the latest in styles and trends. A lease allows you to drive a new car more often, without taking a financial hit.
  • Freedom of Choice. You have options at the end of a lease. When your lease is up, you don't have to worry about trying to sell or trade in your vehicle, many times at a financial loss since a vehicle is a depreciating asset. If you have fallen in love with your leased auto, you can purchase it at lease-end for the residual amount. Or, you can roll into another lease with the latest model. You can also simply return your lease and walk away, no strings.
  • Little or Zero Vehicle Maintenance. Most people like to lease for a term that coincides with the length of the manufacturers warranty, so that if something goes wrong with the vehicle the repairs are covered. Dodge covers you with a 3-yr 36k mile bumper to bumper warranty, and a 5-yr/100k mile limited powertrain warranty. And, because you're always driving a newer car, you usually don't have to worry about regular maintenance intervals that come with higher miles. Talk about worry-free!
  • Automatic Gap Coverage. Most leases automatically come with free gap coverage in the event your vehicle becomes totaled or stolen. Gap will pay off your loan in this situation even if your insurance won't cover the full loss. Just a little added protection for peace of mind.
Advantages of Buying - Why Buy?

  • Own it. When you purchase a car, truck, SUV, or van, it is then yours. Once you pay the balance in full, you can do whatever you wish with your vehicle. This is the best option if you like "titles", or if you plan to keep your car for a long time.
  • Drive it. When you buy, there are no mileage limits. Drive it as far and as long as you want. If the open road frequently beckons your name, you will be better off as an owner rather than a lessee.
  • Personalize it. Make it your own! Dodge owners can be very creative when it comes to customization. We have seen 20-inch custom colored wheels, monster lift-kits, body flames, even eyelashes and teeth on cars that come to our dealership. If you like your car to reflect your personality, then you might want to buy since you cannot customize a leased vehicle.
  • Love it. Some people view their car as a member of the family. If you get emotionally attached to your cars, then you might want to buy to avoid the separation anxiety that might come with a lease return.
  • Trade it. Sell it. Loan it. Whatever. When you buy a Chrysler, Jeep, Dodge, or Ram truck, then any asset value becomes yours. This can be good, or not so good. A vehicle is a depreciating asset, so you may only benefit if you keep your car for a long period of time. But, if you keep it for a long time and pay it off, you can enjoy having no payments, and you can also use it as trade collateral, or sell it outright for cash in your pocket. Any money you make on it is yours when you buy.

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