Let’s face it, all the available leasing and financing options can be overwhelming and confusing. Well, here at Prescott Brothers Automotive Group, we want to help. To do this we created a simple, yet detailed, list of the main differences between leasing and financing.

Each option provides different benefits and factors to consider, depending on your personal preferences and financial situation. If you think of any questions as you read, contact one of our dedicated finance teams.

Learn More About The Differences Between Leasing and Financing

The main ways you benefit from signing a lease agreement:

• Easily upgrade to a different model when your lease ends
• Lower or no repair costs thanks to factory warranties
• Lower monthly payments
• Sales tax is only applied to the portion of the vehicle you finance

Important lease specifications you should take into consideration:

• You do not own the car at the end of the lease, and it will be returned to the lessor
• Many lease agreements put limits on mileage and customization

Benefits you’ll experience if you finance your next vehicle:

• You own the car when you complete your payment plan
• There are no mileage or customization restrictions

Aspects of financing you should take into consideration:

• Monthly payments are higher
• Larger upfront payments
• Maintenance can be more expensive

Lease or Buy Your Next Car at Prescott Brothers Auto Group

Now that you know the basic differences between leasing and financing, you’re one step closing to getting behind the wheel of your new car. When you visit the Prescott Brothers Automotive Group dealerships, you’re sure to find the perfect model for you among our expansive inventory of Chrysler, Dodge, Jeep, Ram, Ford, and Lincoln vehicles.

With dealerships throughout Illinois, we are the ideal location for customers in the Rochelle, Mendota, and Princeton areas. So, don’t wait another minute. Get started researching our current specials, get pre-approved online, and learn more about the Prescott Promise.