Pros

Brand New Vehicle for Lower Monthly Price With a lease, you will get a new Volvo vehicle with all of the features that come with a brand new car. At the same time, your monthly payment is typically far less than it would be if you were to purchase the car and take out a loan.

Less Commitment Another advantage of leasing a Volvo is there is less of a commitment. With a lease, you will only be obligated to make payments for a few years. When the lease term is up, you can return the Volvo to the dealership and either choose to buy the car or lease a new one.

Maintenance Plan Volvo leased vehicles will also come with a favorable maintenance plan. These plans can help to reduce your total maintenance costs and ensure your Volvo stays in great condition.

Cons

No Ownership One disadvantage that comes with leasing a vehicle is that you will not have ownership of the vehicle. When the term of the lease is up, you will have to decide whether to return the car or get a new one. However, when you do return a vehicle, the residual purchase price option will be much lower than the price you’d pay for it when new.

Limited Mileage Another disadvantage of leasing a vehicle is that you could have a limitation for how many miles you are permitted to drive around East York, PA. Most leases will allow for you to drive a certain amount of miles each year, which typically range from 10,000 to 15,000 miles. The larger the mileage allowance, the higher your payment will be. If you go over this amount, you will be assessed an additional fee when returning the car.

Frequently Asked Questions

For those that are looking to lease a vehicle, it is important to have all of your questions answered. These are some of the most frequently asked questions about leasing.

Is Leasing Right for Me?

Determining whether leasing is right for you is a personalized question. For those that want to be able to switch cars every few years and like driving the latest model around West York, leasing could be a preferred option.

What are the End of Lease Options?

Once the term of the lease is up, there are many options available. These can include being able to purchase the vehicle at the pre-determined residual rate or returning the vehicle. If you return the vehicle, you could choose to lease a new one or make any other lease or purchase decision you want.

Are the Down Payment Flexible?

If you do not have the amount due at financing available, you could request lumping this amount into your car lease payment. These payments are normally flexible and can then be amortized over the period of your lease.

Learn More About Your Finance Options at Lehman Volvo Cars of York

When you are in the market for a new Volvo near Dallastown, you should come to Lehman Volvo Cars of York. When you come here, all of the team members will be able to answer your questions about the features that you have available. You can also test drive any model around Hanover, PA, that you wish to ensure you find one that is right for you. The team at Lehman Volvo Cars of York can also help you with any of your financing questions to ensure you get into a loan or lease that works for your budget.