Should I Lease or Finance my next New Vehicle from Vernon Volkswagen
 

 
 
 
 
 
 
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Should I Lease or Finance my next New Vehicle from Vernon Volkswagen

It can be a difficult thing deciding whether or not you should lease a new vehicle or finance one. Most times it is a personal preference; when you finance a new vehicle you own it, you may enjoy all the benefits of ownership. What about leasing though? To help you make this choice we have listed a few points you should know about leasing and financing.

 

 

 

 

Financing:

 

  • When you finance, it allows the buyer to build equity.
  • Though financing is a lot more money monthly, overall it is cheaper than leasing.
    • Lower initial interest rate
  • You are not bound to your agreement.

 

 

 

Leasing:

 

  • When you lease, you only pay tax on the monthly payment. When you finance, you pay taxes on the full purchase price of the vehicle.
  • Leasing typically provides for lower monthly payments and lower up-front costs you would pay on a loan for the same vehicle.
  • Leasing gives you choices at lease end:
    • You may purchase the vehicle at the Lease End Value indicated on your contract
    • You may return the vehicle provided in your lease
    • You may lease or finance another Volkswagen vehicle