Financing and Leasing: What's the Difference?
When it's time to pay for a vehicle at Jim Fisher Volvo Cars Portland, you have two options: financing and leasing. When you finance a new or used vehicle, you start by taking out an auto loan. This lets you pay for the vehicle right away. You then pay the loan off over time, with interest added. We work closely with several local financial institutions to help our customers acquire loans with competitive interest rates and affordable down payments. Once the loan is paid off, ownership of the vehicle transfers to you.
Leasing is another payment option available for new Volvo vehicles at our dealership. When you lease a vehicle, you make monthly payments to the dealership. In exchange, you get to drive your new vehicle of choice in Beaverton, OR, for the duration of the lease agreement. Leases usually last 36 months, but 24-month and 48-month leases are often available. When the lease ends, you can return the leased vehicle to our dealership, trade it in for a new Volvo to lease, or buy it.