Should I Buy or Lease?

Finance Documents for Car

What’s the best financial path to take as you consider acquiring a new vehicle for Dunlap driving: buying or leasing? There are certainly benefits to both, but all shoppers should consider what their needs are, what they can afford, and what they want before making a final decision. Here, Sam Leman Chrysler Jeep Dodge of Peoria takes a look at the benefits and drawbacks to financing and leasing, so you know which is right for you when you stop by and ask “should I buy or lease?”

Benefits of Buying

  • No Mileage Restrictions: If you’re driving your vehicle inside and outside of the Galesburg area, you may want to consider buying. You’re free to drive as much as you want without the mileage limits you get on a leased vehicle.
  • Total Ownership: With a purchased vehicle, you are free to do with the vehicle what you please. There are no restrictions on how it’s modified, decorated, etc.
  • Customization: Buying instead of leasing gives you license to make cosmetic and mechanical changes as you see fit and create the car of your dreams without restriction.
  • Ability to Sell: When you own your vehicle, you can opt to sell it whenever you choose.
  • Financing Options: The car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
  • Less Cost Over Time: With total ownership, the vehicle becomes less expensive to own the longer you have it, even though it might be more expensive in the initial period.

Benefits of Leasing

  • Lower Payments: Monthly and down payments are much lower when you lease instead of buy.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Trade-Ins: Trading your current lease for your next leased vehicle is easy – just head to your local Peoria dealership, pay any remaining fees, and drive away in your next vehicle of choice.
  • Great Coverage: Any issue that pops up under your warranty is covered with a leased vehicle, as long as you don’t go over the mileage limit.
  • Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle, which gives you more options to meet your specific needs.
  • High Approval Rate: It is much easier to get approved for a lease, as even those with poor or no credit can be approved.

Explore Leasing and Financing Options at Sam Leman Chrysler Jeep Dodge of Peoria

Whether you choose lease vs. buying, remember the decision is based entirely on your personal needs and financial outlook. Decide what works best for you, explore all of our Chrysler, Dodge, Jeep, Ram leasing and financing deals, and visit our dealership near Bartonville to find your next vehicle. If you have any questions, feel free to contact us today and see if you prequalify for credit!

More From Sam Leman Chrysler Jeep Dodge of Peoria

  • What Are the 2020 Jeep Wrangler Configurations?

    The 2020 Jeep Wrangler is available in eight configurations. Are you considering the cost-effective Wrangler Sport, or are you more intrigued by the ruggedness of the Wrangler Rubicon? Whichever trim you choose, you’ll enjoy go-anywhere performance and a cabin that’s packed with the latest from Jeep. Find out which of the new Jeep Wrangler configurations…

  • 2020 Jeep Gladiator Dimensions: Room for Friends & Gear

    The 2020 Jeep Gladiator is one of the top choices in the Dunlap area for everyone from busy families to weekend adventurers. While its power and performance are among the most popular features of the new model, the Jeep Gladiator dimensions just might blow you away. This truck has tons of room for the cargo…

  • 2019 Jeep Wrangler Accessories

    2019 Jeep Wrangler accessories available at Sam Leman Chrysler Jeep Dodge of Peoria make this capable SUV more comfortable, and better able to handle off-road adventures — that’s right, you can add to your Wrangler in addition to taking its doors off. Whether it’s a roof-top cargo carrier or performance parts like a Wrangler air-intake snorkel, we have it in Peoria….

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Share
Share This ×

Choose How To Share:

Contact
Contact Us ×

​(877) 854-1464

Call Now

1801 West Pioneer Parkway • Peoria, IL 61615

Get Directions

Today's Hours:

Open Today! Sales: 8:30am-6pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

Sam Leman Chrysler Jeep Dodge of Peoria

1801 West Pioneer Parkway Peoria, IL

Phone: ​(877) 854-1464

http://maps.google.com/?q=1801%20West%20Pioneer%20Parkway%2C%20Peoria%2C%20IL%2061615

Parts

Phone: ​(877) 476-0959

1801 West Pioneer Parkway Peoria, IL

Mobile Parts

Phone: ​(877) 270-3453

1801 West Pioneer Parkway Peoria, IL

Sales

Phone: ​(877) 854-1464

1801 West Pioneer Parkway Peoria, IL

Mobile Sales

Phone: ​(877) 345-5089

1801 West Pioneer Parkway Peoria, IL

Service

Phone: ​(877) 418-4682

1801 West Pioneer Parkway Peoria, IL

Mobile Service

Phone: ​(877) 633-7310

1801 West Pioneer Parkway Peoria, IL
40.7841096 -89.6203091
[schema type="organization" orgtype="LocalBusiness" url="www.samlemanpeoria.com" name="Sam Leman Chrysler Jeep Dodge of Peoria" description="" street="1801 West Pioneer Parkway" city="Peoria" state="IL" postalcode="61615" country="US" email="donoff@samleman.com" phone="​(877) 854-1464" logo="https://di-uploads-development.dealerinspire.com/samlemanchryslerjeepdodgeofpeoria/uploads/2018/07/SamLemanOGImage.png"]
Sam Leman Chrysler Jeep Dodge of Peoria
Sam Leman Chrysler Jeep Dodge of Peoria
donoff@samleman.com
1801 West Pioneer Parkway
Peoria, IL, 61615 US
​(877) 854-1464
https://di-uploads-development.dealerinspire.com/samlemanchryslerjeepdodgeofpeoria/uploads/2018/07/SamLemanOGImage.png
Sam Leman Chrysler Jeep Dodge of Peoria 40.7841096, -89.6203091.