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The Pros and Cons of Leasing vs. Buying a Car

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Leasing Vs Buying: What’s Right For You?

At Fillback Chrysler Dodge Jeep Ram of Richland Center, we make your vehicle search simple and stress-free. Our team is here to guide you through the benefits of leasing and buying, so you can choose with confidence. Explore our new inventory or used vehicles as you compare your options and make the decision that works best for you.

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Should You Lease Your Vehicle?

Leasing a new Chrysler, Dodge, Jeep or Ram vehicle is similar to a long-term rental. You pay for the depreciation of the vehicle during your term rather than the full purchase price.

Leasing Pros

  • You typically enjoy lower monthly payments and a lower down payment.
  • You can drive a newer, more advanced vehicle for less money.
  • You experience lower repair costs because the vehicle remains under the factory warranty.
  • You can effortlessly upgrade to a new model every 2 or 3 years.
  • You avoid the hassle of trading in or selling the vehicle when your term ends.
  • You generally pay less in sales tax.

Leasing Cons

  • You do not own the vehicle at the end of the term (though you usually have the option to buy it).
  • Your annual mileage is limited (often to 10,000 or 12,000 miles) and exceeding this limit incurs fees.
  • You may face costly penalties if you need to terminate the contract early.
  • You cannot modify or customize the vehicle.

Should You Buy Your Vehicle?

Buying a vehicle is the traditional ownership route. Once you pay off your loan, the vehicle is entirely yours.

Buying Pros

  • You own the vehicle and can modify it however you please.
  • You save money over the long term once the loan is fully paid off.
  • You can drive as much as you want without worrying about mileage penalties.
  • You have the flexibility to sell or trade the vehicle at any time.
  • You can use the vehicle’s equity as a trade-in toward your next purchase.

Buying Cons

  • You generally face higher monthly payments compared to leasing.
  • You may need a larger down payment to keep your monthly costs manageable.
  • You are fully responsible for maintenance and repair costs once the factory warranty expires.
  • You have to manage the trade-in or selling process when you want a new vehicle.
  • You tie up more of your cash in an asset that depreciates over time.

2026 Jeep Compass driving on the highway

Ready To Find Your Perfect Fit?

Whether you decide that leasing or buying is the right choice for your family, our team at Fillback Chrysler Dodge Jeep Ram of Richland Center is ready to help. We offer flexible financing options tailored to your budget and a wide selection of vehicles to suit your lifestyle.

Apply for financing online today or browse our complete new and used inventory to find your next vehicle!

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Please verify all pricing information with a customer service representative.
This is easily done by calling us or visiting us at the dealership.

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