Lease or Finance Your Next Vehicle at Tradition Chevrolet GMC

The Pros Of A Lease

As you consider a purchase or lease for your new GMC or Chevy vehicle, keep these vital points in mind that are genuine perks of leasing:

• You are driving a vehicle that is new or nearly new and is likely to be trouble-free
• Monthly lease payments are typically lower than the car payment for the same vehicle, as you are only paying for the use of the car for a specific time instead of paying the entire cost of the car
• Your vehicle will still be covered by the manufacturer’s warranty
• The lease often includes the routine maintenance to keep operating costs low
• You can lease a car with more options and features while enjoying a lower monthly payment than purchasing a car with fewer bells and whistles
• New lease vehicles have the latest safety features and technology
• When the lease is over, you simply return the vehicle and never need to worry about the resale value or trying to sell it to get your next vehicle

The Cons Of Leasing

While you might think that a lease is the perfect way to have the car of your dreams every two years or so, there are some drawbacks to continuing to lease vehicles, like:

• You will always have a lease payment
• There is a limited number of miles you can drive each year or for the term of the lease
• If you exceed the lease mileage limit, you will pay a costly fee per mile that you exceed the limit, which can be as much as fifty cents per mile for the overage
• If you decide you do not like the car or can no longer afford the lease payments, your only option is to pay a significant termination penalty to end the lease early

When Is A Lease The Best Choice?

A lease might be a better choice for a person who wants to drive the latest model car each year or two and who is not interested in keeping a car long enough to pay it off. It is also a good solution if you can effectively predict the number of miles you will drive each year to ensure you are not exceeding the limit of the lease. Finally, if you are not interested in owning a car for years and facing the cost of repairs, a lease will ensure that you are never faced with these costs and the unpredictable nature of a vehicle that might be less than reliable.

To explore your options for a Chevrolet or GMC lease and compare it to your purchase options, please reach out to the in-house finance team at Tradition Chevrolet GMC. They will be happy to help you understand how a lease or financing will apply to you and your immediate as well as long-term needs for dependable transportation.

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