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To buy or to lease – Mike Anderson Chevy answers your questions
“Different strokes, for different folks,” they say. The same stands true when it comes down to making the decision as whether to buy or lease a vehicle from Mike Anderson Chevy . Don’t even worry about it though, we also have individual preferences and circumstances just as you do. We are an extremely easily relatable bunch. The ultimate deciding factor of whether buying or leasing your next GM, Chevrolet or Buick is the best choice, can come down to a number of reasons. If you feel a little bit of anxiety about what your next move should be, we are going to make an attempt to lighten your load
New Vehicle Specials
What is Leasing?
Leasing a motor vehicle can be seen in a light of being able to drive a new vehicle for less than its purchase price. You will not ever own the vehicle though, unless you choose to purchase it at the end of your ‘leasing agreement.’ It can further be defined as a financially commercialized product, due to there being the involvement of a financier. To portray this in a simpler way, a financier, being Mike Anderson Chevy in this instance, will inadvertently purchase a vehicle on your behalf. The vehicle can now be leased to you, for an agreed upon, monthly payment. The amount will be discussed and agreed to, prior to the leasing agreement being signed.
Differences?
The key differences can be outlined as follows:
- What is buying? Let us take you buying a new Buick with us at Mike Anderson Chevy , as the first example. The entire purchase price of the vehicle would need to be broken down, with interest factored in, to give you your monthly repayments. So in essence, you will be financing the new Buick for the total advertised selling price of the car.
- Now, you would like to drive away with the same brand new Buick, but by working out a quick rough estimate, you realize soon enough that you won’t be able to keep up with the monthly repayments. At this point you do not have to despair, because Mike Anderson Chevy has the solution. When you lease a vehicle, your monthly installments, which will include interest, will only be calculated on the depreciation value of the car for the agreed upon leasing period.
So in effect, by choosing to lease a vehicle, you will not have to fork out a monthly repayment calculated on the entire cost of the car. When choosing to finance, you would have to pay back the total value of the car over your term. Both instances include relative interest amounts.
Why Buy?
Again it comes down to personal preference and financial situation. If you are someone that has a relative cash amount to put down as a deposit, and wish to own the asset at the end of the financing term, then this is a great option for you. If your long term budget allows for it, you can structure the finance deal for as long or as short a period as you would prefer, usually ranging anything from 2 to 10 years. You have the added beneficial options of either a fixed or variable interest rate. If the intended vehicle will be utilized for ‘business purposes,’ you might experience the added advantage of a ‘tax deduction.’ Your ‘car loan,’ which is the authorized vehicle finance amount, is safely secured against the motor vehicle, and you may be able to negotiate a lower interest rate.
Why Lease?
Leasing a vehicle has many benefits that will have a rather positive effect on your bank balance. New vehicle purchase prices as we can all easily observe, increase exponentially with every new model that comes out. Not all individuals have such large budgets to cater for this. Leasing provides an affordable alternative that will allow you to drive away with the same brand new models, for much less of the purchase price. There are usually a decent number of residual payment options when leasing a vehicle. You will have a fixed interest rate and also a fixed monthly repayment amount, which is also considerably lower. Ongoing fees usually don’t apply. If you are someone that doesn’t appreciate having what may seem like an arduous task of sitting with the same vehicle after a few years, then leasing is most definitely for you. You might actually even end up driving more new vehicles then you had originally bargained for. At the end of the leasing term, you simply have to bring the car back to us and we will gladly take it off your hands.
Finance Center
Mike Anderson Chevy makes applying for finance so simple. If you don’t have the time to come into our dealership, all you have to do is fill out our quick and easy online contact form and we will get back to you in a hurry. We also have some incredible cash back specials that will add more value to your financing or leasing agreements. We also have the added options of discussing your finance related queries through the telephone and also via email. We are an easy going, convenient dealership to interact with and your expectations will always be exceeded. Mike Anderson Chevy caters to all types of individuals, from different ‘walks of life’ and their unique socioeconomic status. We gladly offer you an uncomplicated purchasing or leasing process, for whichever option you decide to go for. ‘Time is money,’ we agree, and will always do whatever we can to speed up your process.
Mike Anderson Chevrolet GMC Truck Inc
4301 E Market St, Logansport, IN 46947
Contact UsHours
| Monday | 8:00AM - 7:00PM |
| Tuesday | 8:00AM - 7:00PM |
| Wednesday | 8:00AM - 7:00PM |
| Thursday | 8:00AM - 7:00PM |
| Friday | 8:00AM - 7:00PM |
| Saturday | 8:00AM - 3:00PM |
| Sunday | Closed |
| Monday | 8:00AM - 5:00PM |
| Tuesday | 8:00AM - 5:00PM |
| Wednesday | 8:00AM - 5:00PM |
| Thursday | 8:00AM - 5:00PM |
| Friday | 8:00AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |
| Monday | 8:00AM - 5:00PM |
| Tuesday | 8:00AM - 5:00PM |
| Wednesday | 8:00AM - 5:00PM |
| Thursday | 8:00AM - 5:00PM |
| Friday | 8:00AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |