If you want to drive a newer car without the long-term commitment that comes with purchasing a vehicle, a lease may be in your best interest. Volvo leases in Buffalo Grove allow you to drive a car from the current model year at a price that may be easier to fit into your budget.
Why Leasing is Generally Less Expensive Than Buying
When you lease a vehicle, you are essentially paying for its depreciation over the term of the agreement. As this is only a fraction of the car’s overall value, you will pay less per month to drive it. In many cases, the down payment can be rolled into the monthly payment, which means that you pay less upfront to acquire the car.
Consider a Lease an Extended Test Drive
In most cases, Volvo leases in Buffalo Grove allow you to purchase the car at the end of the lease term if you would like. If you don’t like the car that you are currently leasing, simply return it when the lease term expires. You may also be able to transfer your lease to another person while it is still active. Ultimately, leasing provides greater flexibility to change vehicles on a regular basis without a significant financial penalty.
It May Be Possible to Cash Out Positive Equity
If the car is worth more than the dealer projected it to be when the lease was signed, you may have positive equity in the vehicle. Depending on its terms, you may be able to use that equity as a down payment to purchase the car or as a down payment to lease a new Volvo.
When you’re ready to lease a new Volvo, stop by McGrath Volvo Cars Barrington to learn more about what it has to offer. You can also see available inventory at MCGrathVolvoCars.com.
