The Benefits of Loans & Leases

When shopping at KI-PO Motors Chevrolet, Inc., in Ransomville, you'll find that we offer a variety of new and used vehicles. If you're looking to drive home in one of the models we sell, you may be curious whether it's better to get a loan or lease. We're here to go over the benefits of each to help you make an informed decision, so let's get started.

Why Get a Loan?

Are you from the Lewiston or Lockport, NY area? Are you looking to own the vehicle you drive? A loan is a great way to make that happen. Loans will have larger monthly payments than leases, but with a loan, you can customize the vehicle however you like. Also, when you make on-time payments, you can build your credit score, which will help you with many other aspects of your life.

Why Get a Lease?

With a lease, Niagara Falls and North Tonawanda residents won't own the model they drive. Because of this, they won't be able to customize the vehicle, and they'll have restrictions on the number of miles they can drive. That said, leasing does many upsides.

One of the benefits of getting a lease is that vehicle maintenance will be covered for the most part. Also, since leases only last for two or three years, you can extend the lease, buy the lease (so you own the vehicle), or upgrade to a newer model when it expires.

Purchase a Loan or Lease

Hopefully, this has shown you the upsides of each financial plan, and you better understand which works best for you and your budget. If you're looking to buy from our dealership, fill out our online finance application Applications are quick to fill out, so don't wait and start the financing process today.