Buying vs. Leasing
Should I Buy, Lease, or Finance My Car?
Sometimes, car shoppers near Aberdeen and Bismarck can get confused about which option is best for taking home a new car. Unfortunately, there’s not one-size-fits-all solution. The method you pick depends on your priorities. However, our team has the knowledge and experience to help you choose between buying, leasing, and financing your vehicle. Come to our location near Watertown and Ellendale to speak to a member of our staff. We’ll assess your priorities and recommend a solution.
If you can afford it, buying a car outright up front is a great option. You can get it all taken care of from the start, avoiding the potential hassles of securing a loan or lease. However, the total cost of a new vehicle often falls outside the budget of the average buyer near Huron, Groton, or Redfield.
Leasing a new model can be a great option for drivers who like to upgrade often. That’s because lease agreements typically only last for two or three years. It’s essentially a long-term rental from the dealership — you put money down and agree to monthly payments and in exchange you can drive the vehicle. Plus, monthly payments are often lower than loan options because you’re only paying for the cost of depreciation. However, this also usually means a leased vehicle has a yearly mileage limit and you can’t modify the vehicle.
Auto loans are a very popular choice for shoppers at Aberdeen Chrysler Center. Unlike a lease, an auto loan gives you full ownership of your vehicle. A lender offers to pay for the vehicle, and in exchange you agree to a set interest rate, term, and monthly installments to pay off the loan. The right loan can make it much easier to afford the car you want.