When it’s time to purchase a new vehicle, you will need to decide whether you should buy or lease. If you aren’t sure which way to go, the best financial plan for you can be hammered out at your Cadillac dealer when you work with the dealership’s finance department.
Buying vs. Leasing a Cadillac: Which Option Is Best for You?
Ideally, you should pick a finance strategy that matches your budget. When you are assessing your finance options, you should consider factors such as the monthly vehicle payment, vehicle registration, ownership costs like fuel, and routine maintenance costs. Some questions that can help you decide between leasing and buying include:
What Is Your Expected Mileage?
If you expect to drive fewer than 12,000 miles per year, leasing is a better option. Car leases usually have a mileage limit, so if you drive over your allotted miles, you may have to pay extra fees at the end of your lease. If you usually drive more than 15,000 miles a year, then buying your Cadillac is ideal.
How Long Will You Keep the Car?
If you plan to keep your car for several years, then it makes more sense to buy a car. But if you’re someone who always likes to upgrade to the latest model with the newest technology, then a short-term lease will fit your lifestyle better. Of course, if you lease a vehicle, you will need to be mindful of potential wear and tear damage that you may have to pay for at the end of your lease.
Do You Prefer a Lower Monthly Payment?
If you want to have a lower monthly vehicle payment, then a car lease is the way to go. Car leases tend to be more affordable since you are only paying for the value of the car during the time you have the vehicle, whereas the monthly payment for buying a car will pay for the entire car’s value.
How Easy Is It to Buy or Lease At Your Cadillac Dealer?
Financing your vehicle at your local dealership is a breeze. Cadillac finance experts can help you understand all of your finance options, including trade-in deals, dealership discounts, and promotional interest rates. Applying for a car lease or loan at your dealership can be streamlined with an online pre-approval process. Dealership financing is ideal even if you have poor credit, since the dealership finance experts can help you get a competitive loan rate.
Deciding between leasing and buying a car means you will need to take a good look at your lifestyle and financial situation. Whether you want to lease or buy your vehicle, your dealership finance experts can help you get a good deal. Contact Service Cadillac to learn more about finance programs today.
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