Odds are, you're going to need a payment plan to afford your next, or first, new car, truck or SUV. Auto leasing and financing are the two options available at our Chrysler, Dodge, Jeep, and Ram dealership in McHenry, IL, but how do they differ? Because there isn't a 'one-size-fits-all' solution, choosing between an auto loan and lease can prove to be confusing. Find out more about the advantages or disadvantages between lease and finance deals below, and then call us at (815) 900-5920 to learn additional details about getting a payment plan with Sunnyside today!

Buying vs. Leasing Review in McHenry, IL

Auto Leasing Advantages & Disadvantages 

Leasing a new car can be a great way to get into a vehicle you wouldn't otherwise be able to fit into your monthly budget, but it's not for everyone. Advantages and disadvantages to keep in mind when considering an auto lease deal at our dealership in McHenry, IL include:

Advantages of Leasing

  • Lessees only pay for the depreciation of the vehicle plus fees, making the overall payments much lower than auto finance deals.
  • Auto lease deals provide greater flexibility at the end of term. Return and walk away from the car, keep it and finance the remaining value, or if there's any equity in the car, you can use it to get into a new lease for a new vehicle.
  • Lease plans require a minimal or, in some cases, no down payment.
  • Enjoy the latest technology and safety systems by upgrading to a new model every few years.

Disadvantages of Leasing

  • Lease contracts limit the number of miles you can drive before penalties occur. Limits typically range from 10,000 miles to 15,000 miles.
  • The vehicle needs to be returned in as close to original condition as possible. Limited wear and tear is allowed, but most modifications aren't allowed.
  • Most lease deals are only available to buyers with good to excellent credit.

Auto Financing Advantages & Disadvantages

Financing a new car, truck, or SUV is the clearest path to true car ownership unless you pay the entire cost of your vehicle up front. But even auto finance deals from Sunnyside Chrysler, Dodge, Jeep & Ram have their benefits and drawbacks.

Advantages of Financing

  • If you plan to keep the same vehicle for a long time, auto finance deals make it possible to own your car past the term of the loan.
  • You actually gain equity in your car with an auto finance plan.
  • Auto finance deals allow you to drive without mileage restrictions. If you want to drive cross-country and back, you don't have to worry about mileage penalties.

Disadvantages of Financing

  • Financed cars, trucks and SUVs depreciate as soon as you drive them home, and can lose as much as 20-percent of their value in the first year of ownership.
  • Most auto finance deals require down payments of 10-20 percent of the vehicle's value.
  • Longer auto loans give more time for interest to compound. The payments on longer-term loans may be lower, but you'll be paying more in interest.

Why Choose Sunnyside For Auto Leasing & Financing

With a dedicated auto finance center, Sunnyside Chrysler, Dodge, Jeep, & Ram in McHenry, IL is the ideal location to get your next loan or lease deal. The finance experts at our dealership will walk you through the auto loan or lease process by explaining every aspect to your satisfaction before asking for a signature. Get started on your next finance deal with us by using our online application to get pre-approved for auto credit and take the hassle out of buying or leasing your next new car.


Do you still have questions about lease and finance deals? We have answers. Contact us through our inquiry form, or give us a call at (815) 900-5920 to get more details.

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