Get Behind the Wheel of Your Next Vehicle Today

At Wood Chrysler Dodge Jeep RAM Carthage, buying or leasing your next vehicle is always an enjoyable experience. However, not every driver knows which method of ownership is best for them. Some drivers enjoy driving a new vehicle every few years so they prefer to lease, while other drivers hold on to their vehicles for a longer period of time, so they enjoy financing. At Wood CDJR Carthage, we're here for you whether you choose to buy or lease your next vehicle.

Not only do we feature a wide inventory of new models for you to browse through, but we also offer substantial financial services to make your lease or purchasing experience empowering and stress-free. Whether you're looking to buy or lease a new vehicle, trust Wood CDJR Carthage to get you behind the wheel of your favorite model.

The Pros and Cons of Leasing

Leasing is like renting a vehicle for a period of two to three years. Instead of keeping the car for as long as you wish, you'll make monthly lease payments during the time you have the vehicle, and return the car once your lease period is over. You may also have the option to purchase the vehicle at the end of your lease. However, leasing is not without its benefits and drawbacks:

Pros of Leasing

• Low Monthly Payment – because leasing a vehicle involves making payments on the depreciation that it will experience during the time you have it (plus a nominal finance fee), lease payments are often less than finance payments.
• New Vehicle Every Few Years – because leasing involves driving a brand new vehicle every two to three years, you'll always enjoy the latest technology, the best fuel economy, and the most up-to-date safety features.

Cons of Leasing

• Payments Never End – because you're essentially renting a vehicle throughout your lease term, you'll always have monthly payments and will never truly pay off your vehicle.
• There are Limitations – leasing a vehicle involves keeping it in like new condition, avoiding excessive wear and tear. This means that you'll have to restrict the number of miles you drive and refrain from customizing your vehicle.
• Limited Flexibility – while one of the benefits of leasing a vehicle is the ability to drive a new vehicle every two to three years, there are also limitations to this flexibility. Should you wish to end your lease early, you may find yourself acquiring early termination fees.

The Pros and Cons of Financing

Financing a vehicle involves taking a loan for the entire purchase price of your vehicle. Financing a vehicle often comes with higher monthly payments, however, once all of your payments have been made, the vehicle is yours to keep for as long as you wish. Additionally, financing a vehicle means that you'll have equity whenever you choose to sell it.

Pros of Financing a Vehicle

• Freedom – the main benefit to financing a vehicle is freedom. Should you wish to customize your vehicle, or drive it for as many miles as you wish, financing gives you the freedom to do so.
• Flexibility – when you finance a vehicle, you're free to trade it in whenever you like. Unlike Leasing, which locks you in for a period of two to three years, financing allows you to keep or get rid of your vehicle whenever you want.

Cons of Financing

• Upside Down Potential – new vehicles see steep depreciation within the first two to three years on the road before leveling out. If you purchase a new vehicle and decide shortly after buying it that you want to trade in for something else, you may find that you owe more on your vehicle than it's actually worth. This is considered being “upside down”. Fortunately, if this occurs, it is only temporary and if you hold on to your vehicle and continue to make payments, you’ll begin to accrue equity.
• Potential Repairs – if you keep your vehicle beyond its warranty, you'll be on the hook for any potential repairs.

Buy or Lease Your Next Vehicle From Wood CDJR

We hope you've enjoyed going over the benefits of leasing vs financing your next vehicle. At Wood CDJR Cartridge, buying or leasing a vehicle is a hassle-free experience. Our Finance Center will work closely with you to get you the deal that you're looking for without stressing out or worrying about finding competitive financing. We work directly with Chrysler Capital, along with a team of qualified finances to help get you the most competitive interest rate on the auto loan or lease that you're looking for. We even feature fantastic monthly specials that help you save on your next lease or purchase.

Whether you're wondering how to lease a car, or you have questions about financing, our team is here to answer all of your questions. We're located in Carthage, MO, near Kendricktown, MO, and Joplin, MO. Stop by our dealership today and drive home in the new model that you've been looking for.