Lease Or Loan Your New Volvo Vehicle At Kline Volvo Cars Of Maplewood

There are many questions when it comes to auto financing, but perhaps the most common question we receive is, "Should I lease or loan my new car?"

It can be a hard choice. Both options come with many alluring pros and just as many cons and match different types of personalities and preferences. Here are three of the many discerning factors that you may want to take into consideration.

  1. Up Front Costs - In the beginning, a lease is almost always the less expensive option. Most leases require either a low or no down payment and will have a lower monthly payment. A loan most of the time includes a large down payment, higher monthly payments, and even a higher tax fee.
  2. Long Term Costs - If you look at the long-term picture, you'll discover that the loan is less expensive over time. A lease ends every two or three years, depending on which type of lease you have received, and the payments don't change. A loan will have higher payments at the beginning, but, once the loan is paid off, you'll be payment free and you'll own your vehicle!
  3. Hidden Costs - Both options come with hidden costs. The longer that you own a loaned vehicle, the more repair and maintenance issues you'll have to take care of out of pocket. A lease contains many hidden fees that may accumulate over the period of the lease. For example, if you go over your miles, have damage that goes above the normal wear and tear, or you've broken any of the other leasing terms, you'll be paying extra when it's time for a trade-in.

Let Our Financial Staff Help You Decide Between A New Volvo Lease Or Loan

If you'd like some help deciding between what lease or loan option would work best for you, feel free to contact our finance department or stop by our Kline Volvo Cars of Maplewood dealership. We can go over your finance application and can discuss how we can help you drive away in your new Volvo car or SUV today!

Categories: New Inventory, Finance
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