Volvo Leasing vs. Buying: Which is the Better Option?

If you’re considering a new Volvo in Schaumburg, you’re probably wondering if you should buy it or lease it. While most of today’s drivers choose to finance their cars, many customers prefer our easy leasing programs. Here, we’ll help you make an informed decision by explaining the pros and cons of an auto lease.

Leasing Benefits

The biggest advantage of an auto lease is that it provides a greater value for the dollar. In a lease, you’ll pay the vehicle’s depreciation rather than its entire price. Leases are also great for drivers who can’t afford big down payments. Finally, with a lease, it’s possible to get a new Volvo in Schaumburg every two or three years.

Leasing Disadvantages

A major drawback of an auto lease is that it doesn’t allow you to build equity in a vehicle. When you’re done making lease payments on a Volvo, you’ll have to lease or buy another. However, when you pay off a financed car, you own it outright. Many leases come with mileage limits and extra fees for excessive wear and tear.

Is a Volvo Lease Right For You?

The answer to that question depends on your budget and your needs. If you want to try out a new Volvo in Schaumburg every few years and you’re going to keep it in top condition, leasing is a great idea. However, if you want to own a car for an extended period, buying may be the better option. Visit McGrath Volvo Cars Barrington to see their selection for more details.