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buy or lease - What's right for me

How do you know whether a lease is right for you? As your deciding what your next vehicle will be, another thing to consider is whether you should buy or lease.

The main difference between the two comes down to:
If you like having the latest and greatest every few years, a leased vehicle may be the best route to take.
If you like to own your vehicle, without the worry or limitations of a contract, you may want to buy.

Maybe your a mix of the two?  Read on to learn more about both options to find the best fit. Have questions? Our team is here to answer your questions.

Out of pocket Costs: 

LEASE:
On top of a down payment, taxes, registration and other associated fees, a typical lease will require you make the first month’s payment and put down a refundable security deposit. When you get your lease with the Bill Dodge team, your security deposit may be waived though. 

PURCHASE:
You'll need to have money for taxes, registration, and other fees.  These will be included in the final price when buying outright. If you're taking the financing route, you'll also want to consider what your down payment will can affect the monthly payment of your loan.

    monthly Payment: 

    LEASE:
    You may find that lease payments are lower because you are only paying for the depreciation of the vehicle during your specific lease terms. 

    PURCHASE:
    If you finance, loan payments are typically much higher than lease payments because you are working to own the car once payment terms are complete. 

      Driving Styles, Lifestyle, & Habits: 

      LEASE:
      Do you travel more than 12,000-15,000 miles/year? If so, leasing a vehicle may not be the right fit. Your lease includes the negotiated miles, and If you drive over them, you will have to pay. Typically it costs around $0.15/mile over your limit. 

      PURCHASE:
      Buying may be the right option for you if you like to personalize your car. With a leased car, depending on the terms, you may not be able to perform any modifications. If you buy a car, you have the right to customize it however you would like and you do not have to worry about breaking lease terms. 

        Early Termination:

        LEASE:
        Ending your lease early can be very costly and most of the time will be just as expensive as sticking with your original contract. 

        PURCHASE:
        If you buy your car, you can sell it whenever you would like. Money from the sale can be used to pay off your loan balance or you you can pocket any money made from a vehicle that has been fully paid off.

          End of Term: 

          LEASE:
          When your lease is up, you can choose to purchase the car outright or you can walk away and get a new car.

          PURCHASE: 
          When you purchase a car, and your loan is paid off, you can do whatever you would like with the vehicle.

            Shop Local New Cars In Westbrook At Bill Dodge Kia

            Bill Dodge Kia offers  a large selection of new inventory to choose from. Whether you’re searching for a car, van, truck, SUV or crossover that fits your budget, we’ve got the perfect vehicle for you. Each vehicle is carefully selected, ensuring it meets our high standards. 
            Start Your Search
            11 Vehicles

              • MSRP $39,895
              Exterior
              Dawning Red
              Engine
              1.6 L
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                • MSRP $34,065
                Exterior
                Fusion Black
                Engine
                1.6 L
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                  • MSRP $34,285
                  Exterior
                  Snow White Pearl
                  Engine
                  1.6 L
                  View Details

                    • MSRP $34,460
                    Exterior
                    Gravity Gray
                    Engine
                    1.6 L
                    View Details

                      • MSRP $33,550
                      Exterior
                      Wolf Gray
                      Engine
                      2.5 L
                      View Details

                        • MSRP $56,065
                        Exterior
                        Ebony Black
                        Engine
                        3.8 L
                        View Details

                          • MSRP $55,520
                          Exterior
                          Ebony Black
                          Engine
                          3.8 L
                          View Details

                            • MSRP $33,055
                            Exterior
                            Yacht Blue
                            Engine
                            2.5 L
                            View Details

                              • MSRP $34,400
                              Exterior
                              Everlasting Silver
                              Engine
                              2.5 L
                              View Details

                                • MSRP $39,660
                                Exterior
                                Snow White Pearl
                                Engine
                                1.6 L
                                View Details

                                  • MSRP $73,720
                                  Exterior
                                  Glacial White Pearl
                                  Engine
                                  0.0
                                  View Details
                                    Do you have questions on whether you should buy or lease your next car? Visit our dealership located in the  Westbrook . The friendly finance department at Bill Dodge Kia would be happy to answer any questions you may have about buying and leasing programs.
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                                        Bill Dodge Kia
                                        3 Saunders Way Westbrook ME 04092 US
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