When planning to finance a Volvo, your two options are to either to buy or lease a car. These two options are dependent on your financial situation. Buying a car allows you to purchase your dream car and modify it according to your interests. Leasing a car, on the other hand, allows you to own a Volvo with the latest technology. However, you can't modify such vehicles. If you are stuck between these options in Petaluma, there are the perks of each.
Monthly Costs
Most people in Rohnert Park have different reasons when choosing a payment option. Low monthly payments are one of them. If you are such a buyer, then leasing is the best option. Leasing a Volvo comes with low monthly payments, unlike servicing an auto loan. Since the monthly payments are low, you can balance your budget. However, unlike leasing a car, the monthly payments will stop once you pay off the debt of the car loan.
Car Insurance
When you choose to either lease or buy a Volvo in Santa Rosa, comprehensive insurance cover becomes necessary. However, some vehicle lease agreements provide comprehensive cover at no charge. Thus, before deciding on a plan, research the different insurance covers for the car.
Overall Costs
Both financing and leasing a car have a couple of overall costs. The initial down payment is one of them. When you opt for financing, it's good to understand that most dealerships require a 20% down payment on the car's value.
Leasing also requires some down payment and a first month's payment. When buying a car, a higher down payment is wise, unlike when leasing.
If you frequently use your car to commute around Petaluma, it'll probably get prone to wear and tear. Thus, you'll require to cater for maintenance. Most lease agreements last for three years. During this period, the car is still under warranty, and maintenance and repairs are covered.
Do you want to buy a Volvo? Contact us today at Smother European Volvo Cars for more information on buying and leasing.