Leasing has as many advantages and disadvantages to obtaining a new car as does buying. Customer needs should dictate which option is best for their current situation.
A lease agreement is cheaper generally with monthly payments than taking out an auto loan. That is because the contract is based on the nature of service and not the automobile. The customer can return the car at the end of the lease agreement. There are guidelines that need to be followed in a lease contract. Financial penalties are assessed if regulations are not followed.
An auto loan allows the customer to build equity in the car. The loan is financed over a series of payments. There may also be interest included in these payments. The driver will be free to do what they please with the value of the automobile at the end of the payment terms.
Our professionals are waiting to assist anyone who needs information about leasing or buying a new car. Come see us at Marion Toyota, in Marion, IL.
