Should I Buy or Lease? | Lafayette LA | Near Baton Rouge, Lake Charles, Alexandria & New Orleans
Should You Buy or Lease in Lafayette, LA?
If you’ve decided that a new Volvo in our inventory is right for you, the next question to ask yourself is whether you’d like to buy or lease? It’s a great question — both finance options offer unique benefits to our customers from Baton Rouge, Lake Charles, Alexandria and New Orleans. Many are familiar with financing their Volvo, but most haven’t considered leasing before and are curious to learn more about the options available. Our team at Giles Volvo Cars has helped many through the financing process, so we’d like to highlight the benefits of both options for your convenience.
Why Lease a Vehicle?
Moderate Monthly Payment
Leasing offers our customers the benefit of low monthly payments. How? With the price of cars rising, leasing can be an excellent alternative to buying. New cars always offer the latest in safety and technology features, which means not only will you be driving a new car for a bit less than if you were to buy, but you’ll be the driver of a brand-new, better-equipped model for a limited time without paying the full price tag.
Lifestyle Flexibility
With many companies switching their employees to remote work permanently, many of our customers want some flexibility in their commutes. Leasing can be that flexible, affordable option. Lease periods, for example, are typically shorter than if you were to buy, only ranging between 2-3 years. Since city dwellers and those working remotely aren’t driving as much, the 10,000-12,000 annual mileage limit won’t feel as constricting. Nervous that you’ll go over? No problem. Purchase more miles at signing. Plus, when your lease is up, you won’t have to worry about selling or trading in your model. We take care of the hard part for you!
Warranty Protection
With leasing periods only lasting between 2-3 years, your new Volvo could be covered under its basic manufacturer warranty for the entire length of your lease! How? New Volvo models are covered for four years or 50,000 miles under their basic manufacturer warranty (whichever comes first), and enjoy powertrain coverage for the same length of time. So not only will you be the one to drive your new Volvo during the most carefree years of its lifespan, but manufacturer defects and other qualifying repairs will be taken care of by Volvo.
Why Purchase a Vehicle?
No Additional Fees
While leasing is a great option, drivers will be held liable for excessive wear and tear, exceeding mileage limits and exiting the lease agreement early. Plus, any customization that you’ve added during your lease period must be removed and any residual damage paid for. With leasing, the dealership will charge you fees if you’re in a fender bender or decide to upgrade the sound system. Just ensure to keep your vehicle’s warranty valid for as long as possible, but otherwise, enjoy your new Volvo just the way you want to — without the additional cost.
Financial Flexibility
When buying your new Volvo, there are several options for you to take in order to lower your financial costs, both upfront and long term. Save up for a large down payment to see a more favorable bottom line, which will lower your monthly payment. Choose to pay in cash to avoid paying interest, or apply for credit from us at Giles Volvo Cars for effortless financing. Not only will you get to enjoy the incentives in our new car offers, but every dollar placed on your Volvo — from the down payment to the last monthly payment — is secure. You’ll yield a better investment in your car when you choose to buy.
True Freedom
While for many it's intuitive, buying your new Volvo gives you true freedom. Whether it’s in customizing your Volvo exactly how you want it — think larger wheels, better audio systems, heated seats, exterior paint color, etc. — without having to ask, or taking off for that long-awaited road trip without having to count up the miles, you’ll experience the kind of independence that can only come from buying your model. Buy your next Volvo outright for autonomy from lenders and the freedom to go when and where you please.
If you’re ready to be the proud owner or lessee of one of our new models or are interested in learning more about your lease-end options, feel free to contact us online or visit Giles Volvo Cars at 111 South City Parkway, Lafayette, LA 70503. Remember, a member of our team is just a phone call away if you’d like to talk through your options instead! We look forward to serving customers from Lafayette, LA, near Baton Rouge, Lake Charles, Alexandria and New Orleans.
Visit Consumer Reports’ page for more information on whether you should buy or lease.