When you compare leasing vs buying a new Volvo, you’ll find there are many advantages to both. Depending on your personal preferences, lifestyle and financial situation, leasing can with filled with many advantages. Let’s take a closer look at why leasing with Patrick Volvo Cars might be right for you!
Lower Monthly Payments
One of the greatest advantages of leasing a Volvo is typically a lower monthly payment than if you purchased a new Volvo. Lease payments are typically lower than loan payments for the same car because you are only paying for the vehicle's depreciation during the lease term, not its full purchase price. This allows you to get into a new model or afford the extra options for the same monthly payments as you would if you were buying.
Warranty protection - Lower Repair Costs
Making car payments and repair payments at the same time can be difficult for most people. With a lease, your new car is covered under manufacturer bumper to bumper warranty, so you never have to worry about major repairs.
Most leased vehicles are covered by the manufacturer's warranty for the duration of the lease, which means fewer out-of-pocket repair expenses for you.
No Long – Term Depreciation
You avoid the risk of the car's resale value dropping more than anticipated, as you are not responsible for the vehicle's long-term depreciation.
Latest Technology
With a lease term typically lasting two to four years, you can drive a new car more often and continuously have access to the latest features and safety technology.
Once your lease ends, you simply return it to Patrick Volvo Cars, choose your next vehicle, and sign a new lease.
Less Money Up Front
When purchasing a new Volvo model, a down payment is typically required. When you lease a new Volvo, a down payment is not required. Although you must make the first month’s payment and some other up-front fees, the cost is usually less than the cost required to put down when you finance. Overall, with leasing, it is less cost up front than if you were to finance.
Ease of a Trade In
At the end of a lease, you simply turn the car in. The dealership will report if there are any extra fees such as extra mileage or damage, and the car is out of your hands. You don’t have the hassle of reselling and negotiating the trade in value.
Although many customers get into a new lease before leaving the dealership!
Incentives
There are often incentives and specials for Volvo leases, allowing you to take advantage of even better deals if you decide to lease.
Should you lease your next Volvo model? It all depends on your lifestyle, finances, and personal preferences. Contact our team today and we can help you with the next steps needed for you to enjoy a Volvo lease!
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