Buying vs Leasing
Should I Buy or Lease a FIAT Vehicle? FIAT of Glendale Can Help You Decide!
One of the most oft-asked questions we get at our Finance department is whether leasing or buying is more advantageous. It’s one of those subjective queries to which there’s no right or wrong answer, since the choice depends on a variety of factors including lifestyle, budget and driving habits. If the “buy/lease” question has been on your mind, don’t hesitate to visit FIAT of Glendale at 600 S. Brand Blvd. in Glendale. Our fantastic team is ready and willing to offer their expert opinion!
When Should I Lease?
The general rule of thumb for leasing is as follows: if your budget is tight, you drive less than 15,000 miles/year and you believe that when it comes to cars, “variety is the spice of life”, then leasing is probably the right choice. One of leasing’s most attractive facets is that it requires lower down payments and lower monthly payments than purchasing, thus providing you with a great opportunity to save money. And if you like to switch things up frequently, once your short-term lease expires you can visit FIAT of Glendale and exchange your current new FIATfor a brand-new model – a much simpler process than trading-in or selling.
When Should I Buy?
The biggest advantage to buying happens to also be leasing’s biggest disadvantage: when you buy a vehicle, your monthly payments go towards ownership. Equity is an appealing incentive, and also provides flexibility if you fall out of love with your purchase – i.e. no penalty fees for early termination, as is typical in a lease scenario. Another reason to buy is if you drive significantly more or less than 15,000 miles/year. Lessees in this scenario will end up paying extra if they drive more miles than their agreement stipulates; moreover, a lessee may have to pay for the depreciation he/she isn’t causing if the car is driven less than 15K/year.
If you have kids, pets, or frequently cart around heavy equipment, buying is a great choice given the damage that your car will likely incur. Also, if you’re planning to have a family, switch jobs, or do something else life-changing, buying is the better option since you won’t have to worry about shelling out the considerable cash required for early lease termination.
Financing a FIAT Car at FIAT of Glendale
Though all of the aforementioned factors are important, we understand that everyone’s situation and goals are different. For this reason, even if you think you’ve got a good idea of which way you want to go, we encourage you to meet with our Finance department after driving out to our FIAT dealership in Glendale and share your thoughts. We can provide as little or as much guidance as you need, depending on your experience with car buying/leasing. Also, regardless of whether you’re a car-buying newbie or a savvy veteran, you should definitely review the helpful tools and fantastic deals available in our online finance center. FIAT of Glendale frequently offers financing specials on a variety of models for both purchase and lease, and we’d love for you take advantage of any available savings on your next new car!