Buying vs. Leasing – What’s the Difference?
If you’re like most folks in Medicine Hat shopping for a new vehicle, then there’s a good chance that you’re working on a budget. This means you probably won’t be paying for your new car up front. Instead, most people who shop here at Jackson Dodge will choose to finance or lease their new vehicle.
Benefits of Buying
Many people who come to our dealership from Medicine Hat and the surrounding areas want to finance their vehicle. There are a variety of different advantages, including:
- Ownership – Each monthly payment you make on a financed vehicle is helping you build equity. By the time you finish paying off the vehicle – usually 36, 48, or 60 months – you’ll own the car outright.
- Customization – When you own your car, you can do what you want with it. Add a custom paint job, put in a custom stereo system, or install performance-enhancing equipment. You won’t be penalized for making it your own.
Benefits of Leasing
The other option is to lease a vehicle. With this option, you borrow the car for a period of time and have the option to purchase it or return it when the lease term is up. There are also a variety of different advantages to leasing as well:
- Affordability – In general, vehicle leases come with lower down payments and lower monthly payments. This means that you can afford to drive a nicer vehicle for less, while keeping more money in your account every month.
- Newest Features – Leases usually come with shorter terms than financing plans, usually 24 or 36 months. This means that as soon as your lease is done, you can bring it in and get a new lease on a vehicle with the latest technology, performance, and design features installed.
Explore Your Finance Options at Jackson Dodge
Which is the better option for your next car? Visit Jackson Dodge to take a test drive and chat with our finance staff about the differences between financing and leasing, what gap insurance covers, and anything else you’d like to know. Contact us to learn more or visit our showroom in Medicine Hat.
Loaded with premium features, updated technology, and innovative cargo space, the 2020 Jeep Grand Cherokee is designed to get Calgary drivers where they need to be in comfort and style without sacrificing convenience. Between the standard and available features in the Jeep Grand Cherokee, and the genuine Mopar parts and accessories available through the Jackson Dodge…
Got a tough job that needs a tough truck? Check out the 2020 RAM 2500 for the towing power you need for hauling work supplies to Maple Creek or hitching up a trailer with everyone’s snowmobiles and towing them from Lethbridge to The Crowsnest Pass. The RAM 2500 is built for years of reliability, ready for…
The 2019 Jeep Cherokee has always been up for an adventure, but with the impressive 2019 Jeep Cherokee towing capacity figures, you can take on a whole new world of opportunities. The 2019 Jeep Cherokee can tow 2,041 kg, earning this powerhouse a best-in-class distinction — so it’s no surprise that Jeep continues to keep…
Explore the cabin of the 2019 Dodge Journey and find all the comfort and convenience features that you desire for your trips to Calgary bakeries. From its practical folding seats to its luxurious soft fabrics, no detail has been missed. New Journey for Sale Dodge Journey Cabin Features Standard features you can expect with the…
Customize your RAM 1500 to best suit your style, performance needs, and more. Whether you want to change the hubcaps or the interior features, there are plenty of accessories and add-ons to accommodate your Maple Creek driving needs. Most RAM truck drivers find their seats getting dirty from the job site or harsh weather conditions being tracked…
How long your brakes last depends on your driving style, the distance you drive your car, and the type of brake pads your vehicle has. Learn more about how many miles brakes last, what can affect your brake pads, and more at Jackson Dodge. If it’s time to have them replaced, make the trip to our…