Leasing vs. Buying a Car in Cincinnati: We Answer All of Your Questions
What's the difference between financing or leasing a car? Is it better for me to buy or lease? How much does it cost to lease a new car?
All of these questions are more are the very bread and butter of our in-house financing team when it comes to helping drivers in Cincinnati, Batavia, Milford, and Mason OH find the perfect solution for their unique budget needs and lifestyle. If you know that you want a new Chrysler, Dodge, Jeep, or Ram--but you're not sure what's going to be the best option for you--we can help.
 
Buying
Who Owns It
Whether you pay for the car with cash, or finance it and make monthly payments, either way it's yours. Of course, if you're financing it, you'll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don't, they have the right to repossess it.
Up-front Costs
If you're financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score.
Future Value
Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)
End of Payments
Once you've paid off what you owe on your contract, that's it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.
Leasing
Whether you pay for the car with cash, or finance it and make monthly payments, either way it's yours. Of course, if you're financing it, you'll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don't, they have the right to repossess it.
Up-front Costs
If you're financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score.
Future Value
Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)
End of Payments
Once you've paid off what you owe on your contract, that's it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.
Leasing
Who Owns It
You do not own the car when you lease. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car. .
Up-front Costs
Leases often do not require any type of a down payment. All you usually have to pay is the first month's payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.
Future Value
In most leases you don't end up owning it so you don't end up selling it. That's the financial institution's job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.
End of Payments
Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we'll make sure you have your lease set up the way you want it.
Best Cars to Lease
The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value. Â
You do not own the car when you lease. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car. .
Up-front Costs
Leases often do not require any type of a down payment. All you usually have to pay is the first month's payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.
Future Value
In most leases you don't end up owning it so you don't end up selling it. That's the financial institution's job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.
End of Payments
Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we'll make sure you have your lease set up the way you want it.
Best Cars to Lease
The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value. Â
Why Lease a New Chrysler, Dodge, Jeep, or Ram?
A new car lease is a great option for a variety of drivers, and it might be right for you. If you:
- Only want to pay for the car that you use--your lease payments cover only the cost of the car's value over the time you drive it
- Like driving the best and newest on the market, without needing to be "flipping" a vehicle you own
- Want lower monthly payments, but still want to drive a brand-new car
- Have a shorter commute--around or less than 12,000 miles per year
- Like the idea of trading up to a new model every few years by just handing in your keys and grabbing a new pair
Why Buy a New Chrysler, Dodge, Jeep, or Ram?
If leasing sounds a little too restricting for your lifestyle, a shorter-term solution may be right for you. If you:
- Like the freedom of travelling wherever, whenever, and without keeping track of your miles
- Plan to own your new car for the next 10-15 years
- Are confident in being able to resell the vehicle when you're ready to trade to something different
- Travel tens of thousands of miles per year
- Put excessive wear and tear on your car
Whichever Option You Choose, a Lease or Loan at Jeff Wyler is Easy!
Once you've decided which is going to be best for you--or if you need help choosing--it's time to sit down with our financing team; our expert staffers will be able to show you quotes and estimates for your options. Explore a variety of leasing opportunities, and customize by term length, model and trim, mileage allowance, and more, or shop our newest financing rate opportunities.
Whether you like the short-term commitment of a lease or the long-haul fun of buying, we'll help get you on the road.
Contact
Jeff Wyler Chrysler Dodge Jeep RAM of Eastgate
1117 State Route 32
Batavia, OH 45103-2380
- Sales: 513-268-8294
- Service: (513) 657-1611
- Parts: (513) 657-1571
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Hours
- Monday 10:00AM - 06:00PM
- Tuesday 09:00AM - 09:00PM
- Wednesday 09:00AM - 09:00PM
- Thursday 09:00AM - 09:00PM
- Friday 09:00AM - 07:30PM
- Saturday 09:00AM - 07:30PM
- Sunday 11:00AM - 06:00PM