Buying vs Leasing Temecula CA

Buying and leasing a vehicle both offer fantastic benefits, it simply comes down to which of those benefits are the right ones for you. Down below we’ve broken down the differences between buying and leasing so you can decide which one works best for you.

Ownership

When you purchase a vehicle you own the vehicle. If you purchase in cash the vehicle is yours right then and there. If you finance, the vehicle becomes yours and you receive the title when your loan is paid off. If you lease a vehicle you are paying for the vehicle during the length of the lease and once the lease is up you must return the vehicle. However, you can choose to purchase the vehicle at the end of your lease if you so choose. Or you can just hop on into a new vehicle and a new lease. 

Payments

When you lease a vehicle you are only paying the value of the vehicle during the term of your lease. If you purchase a vehicle, on the other hand, you are paying for the full value of the vehicle. 

Maintenance

When you lease a vehicle you are required to perform regular maintenance such as tire rotations, oil changes, and alignments per your lease agreement. You’ll also find your lease on a vehicle will run out before your manufacturer’s warranty so some maintenance will be covered under that. Since you own your vehicle when you purchase a vehicle you can choose when, where, and what maintenance to perform on your vehicle. 

Customization

Since you do not own your leased vehicle any customization you want to do to it has to be preapproved. So you won’t be able to put a 2-inch lift kit on a leased Jeep Wrangler but you could if you owned the vehicle, you do own it after all so go crazy with those custom modifications. 

Mileage

When you own your car you can put as many miles on it as you would wish. If you want to cruise down the California coast every other weekend go right ahead! If you lease your vehicle though you will have a mileage cap you need to stay under. What mileage option you decide to put on your lease contract is flexible though. So make sure you pick a mileage option that works with your lifestyle. 

GAP Coverage

When you lease a vehicle you will find your GAP coverage is included in the terms of your Chrysler Captial lease agreement. If you purchase a vehicle it is on you to add GAP coverage into your contract. 

End of Term

At the end of your lease agreement, you can choose to either trade your vehicle in and lease a brand new vehicle or you can choose to purchase the vehicle outright. When you purchase a vehicle you are free to keep it for however long you wish and trade it in whenever you are ready to acquire a new vehicle. 

We here at DCH Dodge Chrysler Jeep Ram of Temecula are proud to offer a wide selection of brand new vehicles you can either lease or buy depending on which option is best for you. You can view our entire selection of vehicles right here and if you have any questions please feel free to give us a call at (915) 225 -1440.