Buying and Leasing: Which Payment Option Is Better for Me?

One of the most frequent questions we receive, here at Ken Ganley CDJRF Painesville, pertains to the differences between, and inherent benefits in, leasing and financing.

Your financing choices are incredibly important. That is why our team of friendly financing professionals are here to help you every step of the way. When you have picked out the vehicle you like, we will introduce you to the financing team, and they will help you with all of your payment needs.

However, how are you supposed to know whether you should finance or lease your vehicle? Which is the better option?

Financing vs. Leasing

The most important thing to remember is that there is no objective answer for this question. It all comes down to personal preference, your budget, and your driving habits.

Financing is the usual route drivers take, as many people want to own their vehicle. Financing involves taking out an auto loan to cover the initial cost of the vehicle. You then pay down that loan over the years. Once the loan is entirely paid off, you will officially own the vehicle.

Financing could be a good option for you if:

  • drive a lot during the week
  • want to own your vehicle
  • want complete control over the look, feel, and performance of your vehicle

Leasing is a popular alternative to financing. Because you do not own the vehicle, you will not have to take out an auto loan. Additionally, your monthly payments may be lower than they would be if you financed your vehicle (due to the inherent differences between paying a lease and paying a loan). However, leasing is not a good option for people who drive a lot throughout the week, or those who want complete control over their vehicle. Leasing has certain parameters you must follow.

Leasing could be a good option for you if:

  • do not drive a lot, or drive short distances during your day
  • do not want to own your vehicle
  • need a vehicle for professional purposes

No matter what, our financing team would be happy to help you with the details of either payment option.


Ganley Village Chrysler Dodge Jeep Ram FIAT

2115 Mentor Ave
Directions Painesville, OH 44077-1369

  • Sales: 4355384471
  • Service: (440) 497-4321
  • Parts: 4404590363

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Ken Ganley CDJRF Painesville Makes Purchasing and Leasing Easy

There are numerous financing options when it comes to purchasing your next vehicle, but do you know which one is right for you? Whether you decide to go with a new Chrysler, Dodge, Jeep, Ram, or FIAT, or used vehicle, you will get to the point in the process of deciding if you are going to go with purchasing or leasing. At our finance center, we help drivers in the Painesville, OH, area find the financing option that is ideal for their budget and needs.

There are differences to consider, however, between buying and leasing. Our financing team can thoroughly go over all of the possibilities for you so you can find the payment plan that is the right fit. If you are in neighboring areas like Mentor, Willoughby, and Chardon, OH, feel free to check out some of the benefits and factors to consider with each of the options below to help narrow down your decision.

There are also options at the end of a lease that you may have an interest in. Return your vehicle for a hassle-free option. You can turn in the keys and be on your way. Or, if you aren't sure which vehicle you want to go with next, ask about extending the lease of the car. This will give you some more time to think about your next move. If you love the vehicle you are currently driving, feel free to purchase the leased vehicle. Or, if you want to re-lease the vehicle, that is also a prospective decision. And, of course, you can turn in the car you are leasing now, and lease another vehicle.

Do You Know Which Finance Solution Will Benefit You?

If you would like some assistance with the financing process, trust our team of experts at Ken Ganley CDJRF Painesville. We can help you come to the right solution tailored to your needs. Don't hesitate to get the process rolling by getting pre-approved online first through our online financing application. Talk to an associate by stopping by the dealership at 2115 Mentor Ave, or give us a call at (877) 651-3031.