Buy vs Lease near St. Charles, IL

If you’re looking to get a new car or replace your old one, you may be wondering whether to do so through a leasing or financing contract. Our team at Gerald Kia North Subaru is well-versed nn both, so we’d like to go through the details with you! 

Leasing

Leasing contracts have become increasingly popular among the residents of St. Charles, and for good reason. While financing asks for a certain level of commitment, these contracts ask for the opposite. They typically last around two to four years and have you operating within a mileage limit. They are also easier to afford, as you are only paying toward the average depreciation rate rather than the sticker price. When the contract comes to an end, you will have the chance to begin financing it for its remaining value, lease another car, or simply hand in the keys and walk away after a brief inspection. 

Financing

If you’re looking to fully own the car you leave with from our lot, then you’ll want to speak with our Finance Department. That’s because they will provide the loans you need to start a purchasing contract. You can expect these agreements to stick around for four to seven years and will consist of monthly installments toward the total sticker price. Unlike leasing, financing leads to eventual ownership, so you can pilot along West Main Street without having to worry about future payments. You will also be able to make your preferred physical alterations without facing penalties as well. 

Which Is Best For You?

Selecting the best route for yourself requires a bit of introspection. For example, do you often make trips to Pottawatomie Park? Then, you will want to consider whether or not the mileage limit of a leasing contract may become an issue. Are you operating within a smaller budget? If so, financing contract may not be the way to go, as they are the more costly of the two. You will also want to consider if you would like to own the car you drive or if you’re okay with turning it in at the end of your contract. Be sure to consider all this and more whenever you are making your decision. If you have any more questions, direct them toward our dealership team today!