We are pleased to announce our inventory of new Volvos at our dealership. If you do not have cash for a new Volvo, our customers have leasing and financing options. However, there are some considerations before leasing or financing a Volvo from Clayton Motors.
Considerations Before Leasing
One thing to consider before leasing a vehicle is how many miles you drive since mileage is restricted. You can get charged extra per mile if you go over the allowed contract mileage.
The warranty period should match or be shorter than the lease period, commonly when the maker's warranty expires. If you lease longer than the warranty period, you will likely need an extended warranty to cover repairs.
While leasing a vehicle commonly costs less than buying, you still must pay some fees. Before you sign a lease, ensure you know what the down payment and other costs will be. Your credit score may influence what offers you get, and dealers often use them to determine qualification.
Considerations Before Financing
Financing a Volvo may be the better option if you go on frequent trips or a long work commute. However, just like leasing, you commonly need to make a down payment, so plan to save for it. Use an auto loan calculator to determine what you can pay to avoid falling behind or overextending your budget.
A benefit of financing is that you can pre-qualify for a loan without lowering your credit score and save time. Your credit score will influence the interest rates dealers to charge you and if they will give you a loan. If you can wait for a new Volvo and have a low score, try to improve it.