A lot of people who are interested in buying a vehicle will consider leasing vs. financing. Whether it’s new car financing in San Luis Obispo or used car financing in San Luis Obispo, there’s one place you can choose.
At CB Chevrolet of San Luis Obispo, we’ve received all the questions related to car buying. Whether you’re planning to lease a new Chevrolet in San Luis Obispo or looking at Chevrolet financing, we have something in mind. Explore our new vehicle inventory and then call us at (805) 457-4420 or fill out our online contact form.
When you’ve been at CB of San Luis Obispo, you get a lot of questions on a regular basis. One of the ones we’ve received the most is “What is leasing?” If you’re a San Luis Obispo driver and you choose to lease, you’re going to rent your car for several years.
You won’t be able to build equity or sell the vehicle, they’ll only have to pay for the depreciation that can occur over the course of the lease term duration. This means that monthly payments are lower and your down payment is smaller. You also won’t have to pay as much in sales tax. Another benefit of leasing vs financing is flexibility. When your lease is up, you can choose to renew it, swap it out, or finance the lease’s remaining value.
Then on the other hand, a lot of customers contact CB Chevrolet of San Luis Obispo with what they can get from Chevrolet financing? In the case of leasing vs. financing, let’s find out what financing can do.
If you decide to finance, you’ll take out a loan on the full value of the vehicle with the final intention of owning it. A vehicle’s full value will be more than the depreciation over a temporary lease period. Be prepared to make a larger down payment, pay more sales taxes and make larger monthly payments. The difference is, you can sell the car at any time, while recouping the thousands of dollars you’ve already invested into the principal of a loan.
Financing is always a most cost-effective strategy, yet it needs bigger upfront costs and a great commitment month-by-month.
Now that we’ve broken down the differences between leasing vs. financing, if you’re not sure about your decision, CB Chevrolet can help. Take a look at our new and pre-owned vehicle inventories and find something that meets your needs and budget. Our finance team is happy to showcase what’s available and spotlight where your budget and everyday needs fit in. We also have new vehicle specials and service specials every so often. Call us soon and we look forward to getting you behind the wheel.