Dimmitt Cadillac St. Petersburg Blog

Buying vs. Leasing: Explore Your Options at Dimmitt Cadillac

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Life is all about choices. If you’re in the market for a new 2016 Cadillac for sale in St. Petersburg, FL, you’ll have many things to consider. What Cadillac model? What color? What features? These are just some of the many choices you’ll be thinking about when contemplating your Cadillac purchase at our Tampa new and used car Cadillac dealership, Dimmitt Cadillac.

buying-vs-leasing-cadillac

One of the most important considerations is how you will finance your Cadillac purchase. You have two options here. You can either buy your Cadillac or lease it. Which of these financing options you choose will come down to several factors such as your lifestyle, whether you plan to keep the car for the long term, monthly payment, and the advantages of special lease or financing offers.

Leasing Pros & Cons

For many people, leasing a Cadillac is an attractive option. You can benefit from Cadillac lease offers at Dimmitt Cadillac that provide little or no money due at signing. Another benefit of leasing rather than buying is that you can get more car for your money. The reason for this is that you are actually financing a percentage of the car’s price, also known as the residual, rather than the full amount.

You also may be someone who enjoys getting a new Cadillac every couple of years. After all, that “new car smell” can be quite intoxicating, can’t it? You also may like the no-hassle aspect of leasing. When your lease term is up, you just return the vehicle to our dealership. If you’ve grown to love your Caddy, that’s not a problem. Our Dimmitt Cadillac finance specialists can help you with this simple process of converting your lease into a purchase.

Are there downsides to leasing? Here are some things to consider. First of all, when you lease a vehicle you are essentially “renting” it for a set period of time. Consequently, you do not build up any equity. Leased cars are also subject to mileage caps. If you go over these caps, you’ll be charged a certain amount per mile. If you do a lot of driving, you’ll need to play close attention to how many miles you’re logging and adjust your driving habits accordingly. You’ll also need to return the car in good condition, minus normal wear and tear. You will be charged reconditioning fees if the car is not up to standards.

Purchase Pros & Cons

Let’s talk about the pros and cons of buying your Cadillac rather than leasing it. If you like your new Cadillac so much that you’ll want to pay it off and keep it (we wouldn’t be at all surprised by that), then a straight purchase is the way to go. You won’t have to be concerned about mileage caps or other restrictions so you can drive your Caddy to your heart’s content. And while we’re confident that you take great care of your cars, that occasional parking lot ding, scratch, or other imperfection won’t be an issue in the long run. Another benefit to paying off your car is that you will no longer have any monthly payments

You’ll also build up equity in the vehicle over time by purchasing it. However, cars begin depreciating in value the moment you drive them off the lot, regardless of whether you buy them or lease them. That’s why many savvy Cadillac shoppers take a serious look at our GM-Certified pre-owned Cadillacs for sale near St. Petersburg, FL. These exceptional “like-new” Certified pre-owned Cadillacs at Dimmitt Cadillac could save you thousands compared to buying or leasing a new car.

You’ll most likely need to come up with a larger down payment when you buy a car versus leasing it. Remember that you will be financing the vehicle’s agreed-upon purchase price, plus sales tax, interest, and any other applicable fees. Some lenders may want you to put 10% or 20% down depending on the loan. The more money you put down up front, the lower your monthly payments. However, you can help offset these costs by taking advantage of special low APR financing, GM factory rebates, and other dealer incentives.

Make The Right Choice At Dimmitt Cadillac St. Petersburg

Ultimately, deciding whether to buy or lease your new 2016 Cadillac from Dimmitt Cadillac comes down to what best fits your lifestyle and your budget. Regardless of whether you lease or buy your new Cadillac from our dealership, rest assured that our courteous finance specialists will make the process easy. We’ll clearly explain your options and work with you to customize a financing plan ideally suited to your particular needs. You can even get pre-approved for car financing online.

To help you make your purchase decision a bit easier, you can answer a few questions online that will help determine what the best choice is for you.

We invite you to visit our modern Pinellas Park, FL Cadillac dealership today and let us show you just how easy it is to drive away in the new Cadillac you’ve always wanted.  We are conveniently located at 3333 Gandy Blvd., Pinellas Park, FL 33781. To arrange for your personalized VIP sales experience, please contact us at 877-645-4701. For Service, please call 877-680-0225.

Sources:

http://www.consumerreports.org/cro/2012/12/buying-vs-leasing-basics/index.htm

http://usnews.rankingsandreviews.com/cars-trucks/Buying_vs_Leasing/

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