If you’re looking to get behind the wheel of a new Volvo car, one of your first choices will be whether you want to buy it or lease it. While buying allows the freedom of ownership, there are also plenty of advantages to taking out a Volvo lease. Like many big decisions, there is no one correct choice and your decision will be based upon your individual preferences and situation.
The Advantages of a Volvo Lease
At first glance, leasing can seem more appealing than buying. The first major advantage of leasing is that your monthly payments are often lower than they would be if you bought the car outright. This is because you’re just borrowing and repaying the difference between the car’s value when new and the car’s residual value plus finance charges.
Here are some other advantages that go along with leasing:
- You drive the car during its newest years.
- The car is almost always covered by a new-car warranty.
- You can drive a higher-priced, better-equipped car than you might otherwise be able to afford.
- The lease return process at our Indianapolis Volvo dealership is simple.
The Advantages of Buying
For most people, the main advantage associated with buying a Volvo car is the fact that you own the vehicle and get to keep it for as long as you want.
While payments are usually higher than they are with leasing, the freedom associated with ownership means you are not tied in with a contract and you can sell or trade in your vehicle at any time. Also, there are no mileage limits with buying and you will not be charged for any damage or wear.
Whether you prefer to lease or buy a Volvo car, you can do so right here at Tom Wood Volvo.