Should I Lease or Buy?
Finding your new Chrysler, Dodge, Jeep or Ram vehicle at our Ed Voyles Marietta dealership is the fun part. The hard part is deciding on how you are going to finance the new car of your dreams. Deciding on whether to buy or lease your next car, truck or SUV is a big decision in your monthly budget and can have long-term effects if not through properly. Our experienced financial team is here to discuss an auto loan or auto lease option and find the best plan for you. Contact Ed Voyles CDJR today for more information.
An Auto Lease vs. Auto Loan
Now that you’ve found the next vehicle of your dreams, the decision is whether you should lease or buy it. Knowing the difference is vital and can help down the road. When you decide to finance a car with an auto loan, you pay for the entire cost of the vehicle. No matter how far or long you drive it, you pick a loan term and based on your credit get a monthly payment. A lease is different in the sense that you only pay for the vehicle over the term that you have it. While lease payments are generally less, you often have other fees or security deposits that could add up. You also have to watch your mileage with a lease or can accrue extra fees at the end of the lease. Come to talk to the Ed Voyles financial experts and see what plan works best for you.
What to Ask When Deciding to Lease or Loan
Knowing what to ask our expert financial team will help figure out which plan is best for your needs. Just like each vehicle we sell is different, so is each customer’s budget and likes. Four important questions to ask are:
• Are you in this for the long-term or like new cars every two or three years or would you rather be debt-free in five years or so?
• Are lower monthly payments better for your current budget?
• Do you want to stay ahead with new and innovative safety and infotainment technology?
• Are you prepared to accrue repair and maintenance costs down the road?
These are important questions you can ask your financial advisor, or they may ask you. If new cars and the latest features are important, a lease may be more for you. But if long-term budget plans are your concern, financing your new car to buy could be your best option.
2018 Taxes Make Leasing More Affordable
Beginning in 2018, new tax laws may help you get a more favorable monthly payment on leasing a car versus buying one. In Georgia, the new laws only tax the sum of the lease payments as opposed to the total of your car, truck or SUV, which is different from the past and well less a burden on your budget. There is now also a fixed, one-time Title Ad Valorem Tax of 7% which means no separate sales tax on your down payment, monthly payments or the annual ad valorem property tax. All of these changes make leasing a very affordable option. Contact Ed Voyles CDJR with further questions on the new 2018 tax laws in regard to buying and leasing new vehicles.
Visit Us Today and Find the Right Financial Plan for You
Buying or leasing a car is a big decision for both you and your family. Our expert financial advisers at Ed Voyles CDJR in Marietta are here to assist you and find whether an auto lease or auto loan is the best option for you. Contact us today at (855)433-6546 and we’ll help you find the answers to whether you should buy or lease your next Chrysler, Dodge, Jeep or Ram vehicle.
Complete our online contact form or call us directly at (855) 433-6546 for immediate assistance.