Shopping for a new vehicle can be an exciting time as you explore different brands and find features that match your needs. But when it's time to choose between financing and leasing, there are plenty of benefits and drawbacks to consider. That's why Silman's Sales & Service Inc is proud to help drivers feel confident during the purchase process by comparing financing and leasing in-depth.
Is Financing or Leasing Better?
Financing and leasing are the two primary methods that drivers can use to purchase a new vehicle. Financing is the most popular choice for drivers who want to keep their vehicle after payments are complete. Alternatively, leasing offers improved flexibility with the chance to upgrade to a newer model or purchase the leased vehicle when a contract ends.
Leasing Highlights
- Lower monthly payments on average, based on vehicle depreciation and interest.
- Comes with an annual mileage limit and restriction on aftermarket customization.
- Can be beneficial for drivers who want to upgrade regularly.
- Payments are often completed over 24 to 36-month terms.
- Available for almost all new vehicles.
Financing Highlights
- Higher monthly payments on average, based on the entire vehicle value and interest.
- No annual mileage limits, which is appealing for long commutes and road trips.
- Attractive for drivers who keep vehicles longer than five years.
- Payments are often completed over 48 to 72-month terms.
- Available for new, Certified Pre-Owned, and used vehicles.
Contact Us For Additional Support
Want to explore available incentives and learn more about vehicle financing or leasing? Silman's Sales & Service Inc is here to help you feel relaxed during your dealership experience. Contact us to receive additional details or explore our new and pre-owned vehicles online.
