financing lease vs buy

 

Contact

Riley Volvo Cars Stamford

107 Myrtle Ave.
Directions Stamford, CT 06902

  • Sales: (203) 359-2632
  • Service: (203) 359-2255
  • Parts: (203) 359-2266

Hours

  • Monday 09:00 AM - 07:00 PM
  • Tuesday 09:00 AM - 06:00 PM
  • Wednesday 09:00 AM - 07:00 PM
  • Thursday 09:00 AM - 06:00 PM
  • Friday 09:00 AM - 06:00 PM
  • Saturday 09:00 AM - 05:00 PM
  • Sunday Closed
See all department hours

Dealership Hours

  • Monday 09:00 AM - 07:00 PM
  • Tuesday 09:00 AM - 06:00 PM
  • Wednesday 09:00 AM - 07:00 PM
  • Thursday 09:00 AM - 06:00 PM
  • Friday 09:00 AM - 06:00 PM
  • Saturday 09:00 AM - 05:00 PM
  • Sunday Closed

Parts Dept. Hours

  • Monday 8:00 AM - 5:00 PM
  • Tuesday 8:00 AM - 5:00 PM
  • Wednesday 8:00 AM - 5:00 PM
  • Thursday 8:00 AM - 5:00 PM
  • Friday 8:00 AM - 5:00 PM
  • Saturday Closed
  • Sunday Closed

Service Dept. Hours

  • Monday 7:30 AM - 6 PM
  • Tuesday 7:30 AM - 6 PM
  • Wednesday 7:30 AM - 6 PM
  • Thursday 7:30 AM - 6 PM
  • Friday 7:30 AM - 6 PM
  • Saturday Closed
  • Sunday Closed

Should You Buy or Lease Your New Volvo Model?

If you're gearing up to add a Volvo model like a Volvo S60 or Volvo XC90 to your driveway, you're probably wondering if you should buy or lease your new ride. Both auto financing options have their benefits, but which one is right for you? Ultimately, it comes down to your individual needs and your driving habits. 

  • Do you like staying up to date on technology features? 
  • Do you like having the freedom to modify your vehicle? 
  • Do tend to rack up a lot of miles on the odometer? 
There are a lot of elements to consider, but our team is here to help you decide which path is best for you. Visit our dealership in Stamford near Greenwich, Darien, Norwalk, and New Canaan, CT to learn more.

Buying Your Vehicle by Financing with a Car Loan

If you take out an auto loan to pay for your new car then it's yours as soon as you pay it off the loan. You can drive it for as long as you care to keep it and do with it what you will.

Pros of Buying

  • No more monthly payments. After you pay off your car, you no longer have to worry about monthly payments. Maintenance, insurance, and fuel become the remaining costs.
  • You can customize to your heart's content. When you buy your vehicle, you're free to customize and personalize it as much as you like.
  • No restrictions on mileage. When you own your car, you can rack up as many miles as you like and never have to worry about incurring a fee.

Cons of Buying

  • More expensive in the short run than leasing.
  • Value subject to depreciation.

Leasing Your Vehicle

When you lease, you essentially borrow a vehicle for a few years and bring it back. Then, you can either purchase it or start anew with another new model.

Pros of Leasing

  • Vehicle is usually always under warranty for the duration of the lease.
  • Smaller down payment.
  • You stay up to date with technology and safety features.

Cons of Leasing

  • Restrictions on how many miles you can drive for the duration of the lease.
  • Extra fees for excess wear or damage.
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