A brand-new vehicle purchase is on your mind – but the payments might not be in your budget. That doesn’t necessarily mean you’re out of options, just that you need to change your approach. For example, you might consider a lease agreement instead of financing your new car.
The reason? Lease payments are often significantly lower than those you would have to pay each month on an auto loan. That is reason enough for many people to opt for a lease – but it’s important to understand what separates a lease from a purchase to make sure it’s right for you.
At Don Moore Automotive, we have several convenient locations around Hartford and Owensboro, KY, with new vehicles from brands you love – Toyota, Nissan, Hyundai, Honda, and more – and all of them are available for lease as well as purchase! And whichever way you choose to claim the brand-new car, truck, or SUV you’ve been dreaming of, one thing is for sure: When you shop the selection at Don Moore Automotive, you’re going to get an incredible bargain.
Read on to learn more about leasing versus buying, and then turn to Don Moore Automotive when it’s time to find your new vehicle!
Understand What Leasing Truly Means For You
At our dealership, we understand that you may have been bamboozled by salesmen in the past who may have manipulated you into getting something you might not truly have wanted by using vague language. Don Moore Automotive puts the customer before the sale, and we want you to understand what it means if you decide to lease. Below is jargon you may find, but not understand, in the terms of your lease:
Capitalized Cost – The price of the vehicle, whether that be the MSRP or the reduced price after negotiations.
Capital Cost Reduction – This is simply the down payment.
Residual Value – Estimated value of the car once the lease ends.
Factor, Money Factor or Rate – Interest rate of your loan, which isn’t an annual percentage rate. Rather it is the number expressed multiplied by 2.4 to get to an APR.
Is a Lease Right for You?
Determining whether leasing a vehicle is a good option for you requires you to examine your driving habits, preferences, and budget. For one, if you like to own your vehicle, you’ll probably be happier buying it outright with cash or financing the cost. With a lease, you’re paying for the use of the car over the course of your lease term – not for the car itself.
And there are many other points to ponder, too, before you make your choice:
Length of time you want to drive the vehicle. Lease terms are generally fairly short, which allows you to get into a new model sooner than you likely would with a purchase. This is great for drivers who like to drive the latest and greatest vehicles – less so for those who get emotionally attached to their cars and hold on to them as long as possible.
What you get for your money. With a lease, your lower monthly payments might allow you to afford a higher trim level or premium features than you could afford with an auto loan. The trade-off? You won’t own the vehicle and won’t be able to customize it, if that’s something you like to do.
The end of the road. When your lease term is up, you won’t have to worry about what to do with the vehicle. You’ll simply return it to the dealership, find a new vehicle to lease, and drive off into the sunset.
Lease Your New Vehicle from Don Moore Automotive
Whether you plan to buy or lease, you owe it to yourself to shop at a dealership you trust: Don Moore Automotive serves the Hartford and Owensboro areas and beyond with a fantastic selection, spectacular savings, and unbeatable customer service.
Among our seven locations, you’ll find many great options at prices you’ll have to see to believe. The savings come in a variety of forms – special lease offers, low-interest loans, dealership discounts, and factory incentives included.
With savings like these, you don’t need to wait another day to claim the brand-new car you’ve been dreaming of. We’re standing by to help you find it right now!