Great Vehicle Loan or Lease Options Offered at Mike Ward Alfa Romeo
Choosing to drive home a new vehicle is exciting! There are so many choices to make — new or gently used, body style, color, options. Another important choice to make is how to finance your vehicle. Are you going to apply for a vehicle loan and drive home in a vehicle that you will eventually own? Or do you choose to lease the vehicle and return it at the end of the term? The finance experts at Mike Ward Alfa Romeo in Highlands Ranch, Colorado can help you choose by providing details on each option. This will help you make an educated decision on acquiring your next vehicle.
When you buy a vehicle, you will be paying the entire cost of the vehicle. It usually equates to a higher monthly payment. However, it leads to eventual ownership of the vehicle. In other words, after the loan is paid off, the vehicle is yours. Often, a loan will require a down payment or a vehicle trade-in as a down payment. This requirement can differ depending on your credit score.
Leasing a vehicle usually has a lower monthly payment because you pay for a portion of the vehicle’s costs. You don’t own the vehicle at the end of a lease, but are paying for the use of the vehicle. At the end of the lease, you can choose to return the vehicle or pay the vehicle off to keep it. The lease does not require a down payment, but usually requires a security deposit, acquisition fee, and other fees and taxes. A lease usually has mileage limits and wear and tear guidelines that are important to follow.
Visit Mike Ward Alfa Romeo Finance Center today for more information on loan and lease options. While at our Denver area dealership, be sure to look through our exciting selection of performance Alfa Romeo car and SUV inventory to find the perfect one for you!