Ask Yourself Some Questions

Is having a new vehicle every two or three years with no major repair risks more important than long-term cost? Or are the long term cost savings more important than lower monthly payments? Is building some ownership value in your vehicle more important than low up-front costs and little or no down payment?

Is it important to you to pay off your vehicle and be debt-free for a while, even if it means higher monthly payments for the first few years? Or is it more important to update your vehicle every few years to get the latest styling, new technology, and best safety equipment?

Buying and Leasing are Different

Leasing is a way of financing the use of a vehicle; buying with a loan finances the purchase of a vehicle. Each has its own benefits and drawbacks. When making a 'lease or buy' decision you must look not only at financial comparisons but also at your own personal priorities based on what's important to you.

When you buy, you pay for the entire cost of the vehicle, regardless of how many miles you drive or how long you keep it. Monthly payments are higher than for leasing. You typically make a down payment, pay full sales tax in cash or roll them into your loan, and pay an interest rate determined by your loan company based on your credit score. You make your first payment a month after you sign your contract. Later, you may decide to sell or trade the vehicle for its depreciated resale or trade value, which may be considerably less than the vehicle's original cost.

Leasing is much different than renting. With a lease you are paying a portion of the vehicles cost, that of which you "used" during the time of your lease. You have a choice of not making a down payment, you pay sales tax only on your monthly payments (in most states), and you pay a financial rate, called money factor, that is similar to the interest on a loan. Because this vehicle is ultimately not yours, you may be require to pay certain fees and put a security deposit down. With a Lease, you pay one month ahead of time during the time of which you sign the lease agreement. The lease agreement does explain everything in full and you are always more than welcome to ask for assistance if you do not understand everything enclosed. At the end of your lease contract, you may return the vehicle or purchase it for the depreciated resale value.

*You may be charged a lease-end deposition fee and for any excessive mileage or wear and tear.*

Deciding Between the Two Takes Time

Leasing and buying plans do not cater to every car driver on the market. Choosing between the two does take time and a lot of information. At My CDJR, our finance experts will be available to you for any questions you may have and even give more details about the options to choose from.

If you are from the Mt. Pleasant, Alma, Midland, Bay City, Clare, Big Rapids, Lansing or surrounding Central Michigan area and your ready to choose between leasing or buying your new car, head to our finance department where our specialists can get you set up with the option that caters to your lifestyle.


Mt. Pleasant My Chrysler Dodge Jeep Ram FIAT

4650 East Pickard Street
Directions Mt. Pleasant, MI 48858-2076

  • Sales: (989) 572-0470
  • Service: (989) 572-0464
  • Parts: (989) 546-4118

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