AUTHOR:
Reynolds Careers

DATE:
October 23, 2017

CATEGORIES:
Dealership Knowledge

READING TIME:
2 minutes

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Buying vs Leasing a Vehicle

AUTHOR:
Reynolds Careers

DATE:
October 23, 2017

CATEGORIES:
Dealership Knowledge

READING TIME:
2 minutes

Buying your first vehicle is typically one of the first steps to gaining independence. But wait! Before you visit the dealership, there are many decisions to be made. You need to check for payment plans, mileage, insurance, and features you desire. Once you find the right vehicle, then you can discuss options for getting in the driver’s seat.

Reynolds and Reynolds software helps dealerships provide a great customer experience. We make everything from test driving a vehicle, to filling out the final paperwork easy.

Common ways for people to secure a vehicle involve either buying or leasing. There are many differences in these methods to help dealers attract multiple audiences. Let’s look at what each purchasing method involves…

Buying

When someone buys a vehicle from a dealership, it means they want to keep it for a long time. These shoppers may be traveling long distances, and are okay with monthly payments until the vehicle is paid off. People who buy their vehicles usually aren’t concerned with having the latest automotive technology. They want a vehicle that meets their standards, and provides independence from the dealer.

Leasing

Leasing allows the driver to have some of the newest vehicles on the dealership’s lot for a lower monthly payment. The catch? You can only drive a designated number of miles, and the vehicle is not yours. After two or three years, the vehicle goes back to the dealership. Any damage that occurs outside of normal wear and tear is either covered by insurance or taken out of your pocket.

If you lease, you don’t have to worry about the car’s future value. All you have to worry about is keeping the car in good condition for when it needs returned. Once returned it is eligible to be sold as a used car by the dealership.

If you lease a car and fall in love with it – don’t worry. Many dealerships will let you finance after the leasing term is up. You’ll have gone full circle from leasing, to purchasing a vehicle!

Looking for a car is exciting. Enjoy your experience, and the new ride!


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