Benefits of Financing or Leasing a Vehicle at Riley Volvo Cars

Get the best available financing terms, explained in your terms

When it comes to financing, the terms matter and we'll make them simple. Loan terms, of course, can include the interest rate and the amount of your monthly payments. Lease terms can include the number of months you make payments and the monthly amount. At the Finance Center at Riley Volvo Cars Stamford in Stamford CT, we can explain and simplify your financing choices so it becomes easier to make the best choice, whether it's a loan or a lease.


Some benefits of financing your next Volvo with a loan

Unlike a lease, a loan lets you own a growing share of your Volvo as you make monthly loan payments. You're gradually increasing your ownership in the car you're buying, and someday you can use that equity like cash as a down payment on the next car you'll be driving around Greenwich or Darien CT. It's like making loan payments on a house and building equity instead of renting and never getting any ownership in your apartment.

Car loans now come with longer terms: The pros and cons

It wasn't long ago when most car loans were for 5 years or 60 months. Today, the most common car loan is 72 months. The upside of longer loan periods is that monthly payments are lower than with a shorter-term loan. The downside is that many people can get tired of a car in 5 years or sooner. So while people do build equity they can use toward the purchase of their next car, they might never pay off a loan and actually own a car.

Some benefits of leasing

A typical 36-month lease on a new Volvo at Riley Volvo Cars will usually give you lower monthly payments than you'd get with a loan. You aren't building ownership, but your monthly cash flow is better. When your lease ends, you don't have to think about selling the Volvo you've been leasing because you don't own it. Instead, you can just drop off the car at Riley Volvo Cars, move into a new lease and drive back to New Canaan CT.

Lease parameters to keep in mind

A lease works well for people who drive a moderate number of miles per year, like less than 12,000 miles. The reason: Your lease agreement will include an annual "cap," or limit on the number of miles you drive each year. Exceed that limit and you'll have to pay a fee. You should also remember that leasing is like renting: You don't own a part of the car, even at the end of your lease, so you don't have a cash stake you can use toward your next car.

Good options at the end of your lease

One choice at the end of your lease term is to stop leasing and start buying that Volvo. It's like buying a great used car you're intimately familiar with. You know the car has been well-maintained because you've done it as part of your lease agreement. The most common option is to simply start a new lease and drive another new Volvo. A third option is to step away from leasing completely and buy a Volvo that's brand-new.

Our financing specialists can help make things simple and affordable

Look for current financing offers on our website that can help you get the best available interest rate and terms on a loan, or the best total deal on your lease. Review our new Volvo inventory online, find your favorite and get in touch with us soon for a rewarding test drive at Riley Volvo Cars Stamford in Stamford CT.




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