How to Choose Between a Lease and an Auto Loan

Volvo shopper often find themselves having to make a choice: whether to pursue a lease or an auto loan. It can be a difficult choice for some, as both options have their strong benefits.

We want you to be able to make a fully informed financing decision, so we've concocted a brief breakdown for both leasing and auto loans. Take a look for yourself and get an idea for which might be better for your next vehicle.

Leasing: If you're the type of driver that likes to upgrade frequently and take advantage of the latest in design and technology, we recommend considering a lease. These agreements allow drivers to borrow new models from the dealership for two to three years. Lower monthly payments and down payments mean leases are often a popular way to get into a nicer car for less money. However, a lease does not grant vehicle ownership and restrictions on mileage and modifications are common.

Auto Loan: Auto loans are among the most popular paths to vehicle ownership. These agreements between customers between customers and independent lenders grant full ownership of a vehicle. Down payments and monthly payments tend to be higher than those of a lease, but you'll have full control of your vehicle. Drive as far as you want and modify it to your heart's desire.

To explore options for both lease and loan opportunities, contact our finance center. Our staff will make sure you're taking care of.

Categories: Finance
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