Olympia Fields drivers continue to make Terry’s Ford of Peotone their first port of call for competitive auto financing. Our showroom is handily located for Olympia Fields drivers – simply follow these easy directions to arrive at our door in just twenty minutes.
Our financial team will help put together an advantageous loan or lease package, and we’ve created this quick guide to help you decide which option is right for you.
When you lease a vehicle, your auto financing doesn’t account for the entire value of the vehicle, only the percentage of it which you’re going to use during the term. That means that monthly payments are typically lower – you can either save that money or upgrade to a superior model. You should also get away with a lower down payment, and the warranty will typically cover the length of the car. Finally, since you’ll be able to exchange every few years, you’ll always benefit from the latest features.
However, leasing might not be suitable for Olympia Fields drivers who tend to travel long distances fairly frequently. Mileage restrictions will apply every year – typically 9,000, 12,000, or 15,000 miles. Additionally, you won’t be able to make any major alterations to the vehicle.
Auto financing is slightly higher when you buy, but the pay-off is that you’ll own the vehicle once the loan has been paid off. You’ll be building equity instead of essentially renting, and you’ll be able to keep the car for years with no monthly payments at all. You’ll also be free from mileage restrictions and retain the freedom to alter the vehicle in any way you see fit. If you drive a lot, it’s probably better to buy.
However, you will be taking a gamble on the resale value. This can be difficult to calculate, so it’s possible to take a loss when it comes time to sell. You’ll also require a larger down payment, and might have to stretch out the length of the loan in order to cover the monthly payments.
Our finance department is dedicated to sourcing the best rates around, so you’ll receive a fantastic deal no matter what you decide upon. Contact us online or call 888-832-3250 for more information. We hope to see our customers from Olympia Fields soon!