Should I Buy or Lease My New Volvo?
Should I Buy or Lease My New Volvo in Eugene, OR?
Deciding whether to buy or lease a new Volvo? Here at Volvo Cars Eugene, we’ve done the research for you and assembled a useful chart highlighting the pros and cons of each course of action. In addition, you can use our online pre-approval form to see if you qualify for one of our flexible financing or lease options. When you head over to our finance department, be mindful of your monthly budget and lifestyle needs, so you’ll be able to make an informed decision.
Ready to dive in? Keep reading to find out whether purchasing or leasing your next vehicle is the right choice for you.
| How Do Car Loans & Leases Differ? | Loan | Lease |
|---|---|---|
| Path to Ownership |  |
 |
| Upfront Costs |
Cash price or a down payment, taxes, registration, and other fees. |
First month’s payment, refundable security deposit, acquisition fee, down payment, taxes, registration, and other fees. |
| Lower Monthly Payments | |
|
| Customization Allowed | |
|
| Covered Under Warranty | |
|
| Future Value |
All vehicles depreciate, but you’ll have equity when trading or selling. |
The future value doesn’t affect you. |
| Unlimited Mileage | |
|
| Fees for Excessive Wear and Tear | |
|
| Fees for Early Termination | |
|
| End of Term |
You’ll have full equity to do what you want with the car. |
Purchase the vehicle, or buy or lease another car. |
| Vehicle Return |
Sell or trade. |
Return the vehicle at lease-end and pay any applicable fees. |
Why Purchase a New Volvo?
When you purchase your new Volvo outright, you’re entitled to the freedom and flexibility that comes with ownership. After paying your car off, you can use it as you wish, whether that’s lending it to a friend in need or taking it on an extended road trip. There are no additional fees or mileage limitations to worry about once it’s paid off, and every new car comes with a limited vehicle warranty. Plus, you can elevate your ride with an upgraded audio system, exterior accessories and more. When it’s time to upgrade, you can easily sell or trade in your model for a new one. However, purchasing a car comes with a few downsides. Expect a higher monthly payment when you buy as opposed to leasing, though this could vary depending on your credit score and initial down payment. Also, once your warranty expires, you’ll have to cover all maintenance and repair costs out of pocket.
Why Lease a New Volvo?
Leasing a vehicle is an option that has been gaining popularity in recent years for many reasons. Prices of new cars are on an upward trend, and since monthly payments for a lease are typically lower, it’s an attractive alternative to buying. Also, those who lease their car get to drive it during the most reliable years of its life, and most lease terms do not exceed the length of the vehicle’s limited vehicle warranty. When your lease term expires, simply return your model to our dealership, pay any leftover fees, then pick out the next model you want to lease! Before you move forward with this option, bear in mind that leasing comes with mileage restrictions and no customization is allowed, and you may incur fees for wear and tear as well as early termination.
If you’re ready to be the proud owner or lessee of one of our new models, feel free to contact us or visit Volvo Cars Eugene at 89320 N Game Farm Rd, Eugene, OR 97408. We look forward to serving customers near Roseburg, Springfield, Coos Bay and Florence.
*Visit Consumer Reports’ page for more information on whether you should buy or lease.