If you’re interested in a Volvo vehicle but buying isn’t the best decision for you, leasing could be a very smart move. One of the nice things about a Volvo lease is that it gives you a lot of choices when your agreement is up, including an option to buy. There are some things, however, you need to know ahead of time.
Leasing vs. Financing
When you finance a vehicle, you take out a loan and make payments every month to pay it off. Once you’ve paid off the entire thing, the car becomes yours.
Leasing, however, is different. While you also make monthly payments, the vehicle still belongs to the dealership. Those payments are strictly for leasing the car and don’t go towards the purchase price.
Buying at Lease-End
If your lease is nearing its end and you’ve decided that you don’t want to give up your vehicle, the financing process has to start in order to buy it. At this point, you will need to take out a loan and start making payments. The good news is that because your car’s value will have gone down over the course of your lease, your costs may be cut substantially.
Explore Your Options at Fields Volvo Cars Northfield
If you have any questions about leasing or financing, get in touch with Fields Volvo Cars Northfield. Let us know what your needs are and we will help you make the best financial decision. If you have your eye on a car in our inventory, we will gladly deliver it to your home for a remote test drive.