Whether you've settled on a new Chrysler 200, Dodge Grand Caravan, Dart, Jeep Grand Cherokee, RAM 1500 or used car from Oakville Chrysler Dodge Jeep Ram Ltd., the chances are you need a car loan or Chrysler, Dodge, Jeep and RAM lease. Perhaps you don't know which option would best suit your lifestyle and/or budget. Well, Oakville Chrysler Dodge Jeep Ram Ltd. is here to offer you counsel.
Already know which suits you better?
Let us know and we'll tell you this season's hottest options.
270 Oak Park BoulevardOakville, ON L6H0G3
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit kilometres from 12,000 to 15,000 kilometres annually. Beyond these figures, fees in the range of $0.10 to $0.25 per kilometer begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.