Many Buffalo Grove residents believe that the only way to get a new car is to buy it outright and get financing. However, another option includes Volvo leases, which is similar but also much different. When you lease a car, you make payments, and you get to use it for three to five years, depending on the lease agreement. Other terms may include paying for mileage or agreeing only to drive a particular amount of miles.
In a sense, you are borrowing a vehicle and paying for the privilege to borrow it. Once the terms are up, you can choose to purchase it and pay the rest of the money (financing is available) or return it and enter into a new lease agreement on a different vehicle.
Always have Something New
Depending on the lease terms, you can get into a new vehicle every three to five years, which ensures that you always have the newest features. Carmakers frequently upgrade the safety equipment and technology, so you can have access to that without having to quickly pay off your current car and purchase another.
Purchase it if You Love It
You do have the option to buy the vehicle, which is helpful. Many times, people lease a vehicle because they’re unsure if they like it well enough to buy it. After three years, you may find that you want to keep it, though you aren’t required to do so.
Less Expensive Than Purchasing
In most cases, it is cheaper to lease than buy/finance. However, your situation may be slightly different based on the vehicle you choose and your financing terms.
Volvo leases are an excellent way to get a new vehicle and keep updated with new features. Visit McGrath Volvo Cars Barrington near Buffalo Grove at https://www.mcgrathvolvocars.com to learn more about lease terms.