Leasing vs Financing
Leasing vs Financing Your Next Vehicle at Stettler Dodge Ltd.
When you choose to obtain a new car through Stettler Dodge in Stettler, Alberta, you have two options: cash, leasing, or financing. Paying with cash is when you pay the total amount of the vehicle upfront. The other two options are much more common. Keep reading to learn more about the differences between leasing and financing a vehicle to learn which option is the best for you.
Leasing a car means that you will pay monthly for the vehicle for a predetermined amount of time. You will return the car when the lease is up, usually around three to five years. You will have the option at this point to lease a newer car, extend your lease, or buy the vehicle. It's essential to have adequate insurance on a lease. Otherwise, you could be liable for any damages or excessive wear and tear upon return of the vehicle.
Financing is an option if you want to own the car eventually but don't have the total amount to pay for it upfront. Visit our Finance Centre for information about our various financing options and to complete a loan application. Once you receive the loan for the car, you will have to pay monthly payments towards the loan.
You also will have to pay interest on the loan, which can increase the total cost of the car compared to buying it outright. The higher your credit score, the lower the interest and the less expensive the payoff total will be. If you have bad credit, visit our Tips on How to Rebuild Your Credit Score page. When you finish paying off the car, you will own it fully.
Whether you want to lease or finance, we have a car for you at Stettler Dodge, located in Stettler, Alberta. We are easily accessible from these locations: Bashaw, Lacombe, Alix, Big Valley, and Red Deer in Alberta. Visit us today and experience the Stettler Dodge difference!