Should You Finance or Lease Your Next Car? | Boonville, MO

Finance vs. Leasing in Boonville, MO

You've already decided which Chrysler, Dodge, Jeep, or Ram you want from our new vehicle inventory, but one question still remains: "Should I finance or lease my car?" To help you learn the difference between financing and leasing a car, the experts at W-K Chrysler Dodge Jeep and Ram have highlighted the key details in the page below. Read on to learn more about financing vs. leasing, and then get ahold of the team of specialists at our new car dealership in Boonville, MO by calling (660) 243-4309 or using our online contact form .

Pros and Cons of Financing

When you finance your new car, truck, or SUV you make monthly payments towards and will own it outright at the end of your term. If you plan on putting lots of miles of your new car or modifying it in any way, then this is the option for you. The table below highlights the pros and cons of financing a new car.

Pros of Financing

Cons of Financing

  • You will own your car at the end of your term
  • No mileage restrictions
  • You may modify your vehicle as you see fit
  • You will build equity

  • Monthly payments are typically higher than they are with lease agreements
  • You are responsible for any repairs that are outside of warranty
  • New cars depreciate immediately upon leaving the lot

Pros and Cons of Leasing

A lease agreement allows you to drive a new car, crossover, or SUV while you make payments toward its depreciation. While there are more limitations on a lease deal, there are several serious benefits that make it a lucrative option for many car buyers.

Pros of Leasing

Cons of Leasing

  • You can get a new vehicle every few years
  • Your monthly payments will often be lower than financing
  • You may be able to afford a nicer model or trim level when you lease

  • Mileage restrictions
  • You must ensure your vehicle stays in acceptable condition
  • You cannot modify your vehicle

Finance or Lease a New Car, Truck, or SUV in Boonville, MO

Now that you know whether an auto lease or auto finance deal is right for you, it's time to take the next step towards taking home the new car, truck, or SUV you need. Apply for financing online or get in touch with a representative at W-K Chrysler Dodge Jeep and Ram. The specialists at our dealership in Boonville, MO will help you get the car, crossover, or SUV you need at a price you'll be happy to pay. Feel free to call us at (660) 243-4309 or Contact us online  today!

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