Should You Buy or Lease Your Next Vehicle at Mike Ward Alfa Romeo?

May 25th, 2018 by

Lease or purchase at Mike Ward Alfa Romeo

Buying or leasing are both super options for acquiring your next vehicle at Mike Ward Alfa Romeo near Denver.  Each has many benefits so it is up to each person to decide which is perfect for them.  Our Finance Department is eager to help you decide which works best for your specific situation.   Here are some tips regarding both leasing and buying your vehicle.

BUYING

When you purchase, the vehicle becomes yours even if you are still making payments.  Of course, the financing bank can take possession of the vehicle if you do not make the needed payments.  Because you own the vehicle, you can personalize and accessorize it if you desire.  In addition, it is a great investment because the value of the paid off vehicle becomes yours.  A purchase will often require a down payment.  If you have a vehicle to trade in, you could possibly meet the down payment with your trade-in value.

LEASING

With a lease you get the benefit of using a vehicle but the financial institution retains ownership of the vehicle.  That means you should not personalize or accessorize the vehicle since it needs to be returned as it was leased.  Mileage limits and wear & tear guidelines should be followed so there are not extra fees incurred at the lease end.  With a lease, you return the vehicle at the end of the predetermined time so you do not have a paid off vehicle to keep at that point.  However, you can usually make arrangements to purchase the vehicle for the amount designated by the financial institution.  Leases do not usually require a down payment but they do usually require a security deposit.

Let the finance experts at Mike Ward Alfa Romeo help find the best option for you.  Then check out our impressive inventory of Alfa Romeo cars and SUVs offering super lease and purchase deals!