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Chevy Lease IN MURRAY UT | Chevrolet Leasing near Murray, Salt Lake City UT
SHOULD I BUY OR LEASE A NEW CHEVY VEHICLE IN MURRAY, SALT LAKE CITY, OR WEST JORDAN UTAH?
Getting a new car, truck or SUV can be one of the most enjoyable experiences. When looking to get a new car, one of the most important things to consider is how you are going to purchase it. You need to decide whether you are going to buy the car or lease it. While both options allow you to get a new car, it will be important to know the differences.
ADVANTAGES AND DISADVANTAGES OF LEASING A NEW CHEVY
Chevrolet buyers who are looking to get a new car, truck or SUV will have the opportunity to lease one. Leasing a vehicle in Utah entails driving it for two to three years and making payments on it during this time. When leasing, you will be able to get a new car every few years and always be driving the latest model of a particular vehicle. Leasing a car also allows you to avoid the hassles of ownership as you will have all service and repair costs covered under the warranty. The lease payment will also be less than the amount you pay when buying a vehicle.
Like buying a car, leasing has its disadvantages. First, you may not have autonomy on how much you can drive it. Most Chevy dealers will allow you to drive the vehicle for a certain amount of miles each year. If you go over the limit, you may need to pay for the additional miles driven, although some dealers will cut you a break if your next lease is obtained through the same dealership. You also may need to have a good credit score to take advantage of certain lease offers. But some Chevy dealers can help buyers with average to below average credit find a suitable leasing option that's still cheaper than buying.
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ADVANTAGES AND DISADVANTAGES OF BUYING OR FINANCING A NEW CHEVY
The most common way of getting a car, truck or SUV in Utah is to buy it. When buying a vehicle, you will put some money down and then finance the rest with a loan. During the course of the loan period, you will need to make monthly payments. Buying has its advantages, such as possessing an asset of value and also having full autonomy in terms of how much you can drive it. These two advantages make it very appealing to many consumers who are looking to get a car. While buying a car in Utah has its advantages, there are also disadvantages as well.
One of the disadvantages of buying a car is that it will more costly. When paying off a car loan, you will usually make a payment on the car that is higher than a lease payment. Another disadvantage of buying a car is that if you are unable to make the payments, you will have it repossessed. When repossessed, you will be liable for the remaining balance of the loan, which can be very costly. You will also be fully responsible for the maintenance costs when and if you decide to keep the car after the loan is paid off.
QUESTIONS TO ASK WHEN DECIDING TO BUY, FINANCE OR LEASE A NEW CHEVY
1) How much do you drive?Â
Do you drive a lot? Over 10,000 to 15,000 miles, depending on the lease agreement? You'll probably have to pay extra for each mile. If you plan on trading in a car, truck or SUV you bought, you'd be penalized for above-average mileage too.
2) How hard are you on the car?Â
If you're prone to getting scratches on your car or have a high risk of damage to it from kids or other hazards, a lease may not be for you. Be aware of the wear-and-tear fees. Wear and tear fees vary depending on your lease agreement.
3) How long you plan on keeping the car?Â
This is a big point of consideration. If you plan to only drive the car for a few years, then maybe leasing a new car is your best option. However, fees will incur if you try to get out of the lease before the term is up by as much as six extra months of payments. You'll need to be sure you can stick with the terms of your lease.
4) How much is the down payment?Â
There may be little or no down payment required, and no up-front sales tax payment (in most states). If so, leasing can be a low-cost way of driving a Chevy. You only pay for the portion of the vehicle you use...and your monthly payment is generally LESS than if you bought your car.
5) Do you drive your car for business?Â
When you lease, a portion of the car's depreciation and financing costs can be deducted on your taxes. On the other hand, interest on loans to buy a car isn't deductible (please consult your tax advisor). A lower payment means more disposable income for other investments.
6) Do you know how many miles you'll need?Â
You can tailor your lease to fit your driving habits and miles driven per year.
7) Do you want to forego the hassle of selling the vehicle?Â
Leasing means there is no hassle with trading-in or selling your vehicle. The Chevy dealer will carry the risk of resale value at the end of the lease and provide you with a set purchase option. You can just hand the keys over to the dealer and get a new lease.
IN SUMMARY: THE BENEFITS OF LEASING A CAR, TRUCK, OR SUV
- Lower (or no) down paymentÂ
- You get a new car every few yearsÂ
- You can drive a better car for less moneyÂ
- No long-term commitmentÂ
Here at Larry H. Miller Chevrolet in Murray, UT, we sell and lease cars to the drivers of Salt Lake City, Sandy, Draper, West Jordan, West Valley, Bountiful, Provo, and all around Utah. We think our lease program is a low-cost way of driving a new Chevrolet car, truck or SUV.
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Larry H. Miller Chevrolet Murray
5500 S State St
Murray, UT 84107
- Sales: (844) 583-1206
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