Although some dealerships will try to confuse you with different financing options, you only have to choose between two financing options when you buy a new car in Bremerton: leasing or financing. Even though there are only two options, this can still be a confusing choice if you're not familiar with these terms. That's why the team at Peninsula Subaru wants to provide this guide to help you discover which financing option is likely best for you in Port Orchard.
Mileage Considerations
One important consideration when choosing between leasing or financing a vehicle in Silverdale is the miles you plan to drive the vehicle. Leases generally have a mileage cap over the lease term, so you'll need to carefully monitor how many miles you drive. Of course, if you don't travel much, a lease can help you save money in Kitsap Peninsula by opting for a lower mileage cap. Financing is your best option if you plan on driving your vehicle a lot.
Repair Considerations
Although you'll pay for normal vehicle maintenance for a leased or financed vehicle, a lease is the only way to go if you want to limit repair costs. Since leases typically run concurrently with the factory warranty period, you won't have to pay for the repair if something breaks on your vehicle due to a faulty part. If you're concerned about repair costs when you finance a vehicle, you can buy an extended warranty when you buy your vehicle near Bainbridge Island to ensure repair costs don't become overwhelming.
Cost Concerns
Since you're borrowing a smaller amount when you lease a car, your monthly payments will likely be lower than when you finance a car. However, by putting down a larger down payment and adjusting your terms, you can likely reduce your monthly payment when you finance. Plus, when you finance a car, you will own it outright, meaning that you can sell it to recoup a portion of your initial investment.
To further discuss your financing options, feel free to contact us today.
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