If you are looking to drive a new Volvo, you have two major options. Palo Alto drivers can either opt to buy or lease the vehicle. Each of these acquisition options has its own advantages and disadvantages. Here is a look at what buying and leasing offer.

The Advantages of Purchasing

One of the biggest advantages of purchasing a vehicle is that you own the vehicle. That means you can modify it to your desire and put as many miles on the odometer as your wish. You can also sell the vehicle for cash. Finally, financing a vehicle purchase is generally easier than leasing.

The Disadvantages of Purchasing

The main disadvantage of purchasing a vehicle is that you will have to pay the complete purchase price. Also, you will have to pay the sales tax. Finally, when the vehicle is no longer under warranty, you will have to pay for any repair and parts replacement costs out of pocket.

The Advantages of Leasing

The biggest advantage of leasing is that you pay less out of pocket versus outright purchase. Leasing also offers flexible terms. You can drive a leased vehicle for as little as 24 months. This allows you to drive a new vehicle more often. Finally, it is easy to return your vehicle once your lease is done.

The Disadvantages of Leasing

The main disadvantages of leasing are that you do now own the vehicle. Therefore, you cannot make any modifications, and you will have to pay excess fees if you drive more than that your allotted miles. Finally, you will need a good credit score to secure a lease.

Which Option is Best for You?

If you want to own your vehicle for a long time and modify it, purchasing is the best option. However, if you want to drive a new vehicle more often, you should consider a lease. The dealership sales and finance team will recommend the best option for you.

If you are interested in purchasing or leasing a new Volvo, please visit Volvo Cars Palo Alto to take a test drive today.

Categories: Finance