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All About Lease Mileage—Prime Chrysler Dodge Jeep Ram in Saco, near Portland

There are a few attributes to leasing that many car shoppers may find advantageous compared to take out car loan. Some examples include lower monthly payments and less tax, as well as the opportunity to upgrade to the latest model more often. But there are also some restrictions that are important to consider before making a decision, most notable a yearly mileage limit. Before the lease begins, the leasing company gives an estimate of what the vehicle will be worth by the end of the term. And the number of miles a vehicle has is a significant aspect of this…

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What happens at the end of my lease?—Prime Chrysler Dodge Jeep Ram in Saco, serving Portland

If your Chrysler, Dodge, Jeep, or Ram lease is coming to an end, there are a few steps you can take to ensure a smooth transition. But first, it's important to consider which of the turn-in options is best for you. Here's a quick overview:

  • Choose a new model: Enjoy the latest amenities and tech by upgrading to the current model year or selecting a different vehicle.

  • Purchase your leased vehicle: If you've grown to love your lease over the past few years, you can transition to a loan to pay off the remaining balance. This can…
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How is Sales Tax Applied to Lease?—Prime Chrysler Dodge Jeep Ram in Saco, ME, near Portland

If you're in the market for a new Chrysler, Dodge, Jeep, or Ram but want the opportunity to upgrade more frequently, you may prefer the shorter-term commitment of lease over a loan. Leasing also generally costs less than financing, thanks to smaller monthly payments and less sales tax? But why is sales tax less with a lease than a loan?

Do Land Rover lease payments include sales tax?

With a lease, since you are paying to drive the vehicle for a few years instead of buying it, most states charge sales tax based on the monthly payments, not the…

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Leasing vs. Buying a New Vehicle: Which is right for you?—Prime Chrysler Dodge Jeep Ram in Saco, near Portland

Once you've found the new vehicle that best suits your needs and preferences, your next step is to select a payment. Unless you will be paying cash upfront, you're two options are financing and leasing. But which method is right for you? To help you with the decision, here's a quick overview of the benefits and distinguishing characteristics of each.

In short, the main difference between financing and leasing is vehicle ownership. With financing, you are the owner and will eventually gain the title after the final payment. Conversely, a lease is like renting. You pay to…

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What are Residual Values?


Are you looking to lease a new Chrysler, Dodge, Ram, or Jeep model soon? You might have seen the term "residual value" during your leasing research. A residual value is the projected value your leased car will have when the lease expires. The residual value helps determine your monthly lease payment. If you decide to buy the vehicle after your lease is up, the residual value is the amount you'll have left to pay.

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What is APR?


An annual percentage rate (APR) is the rate of interest applied to the auto loan. The APR is dependent on your credit history and down payment, as well as the length of the loan and the vehicle itself. If you have any questions about APR or auto loans, don't hesitate to reach out to the Prime Chrysler Dodge Jeep Ram Finance Department. We proudly work with banks all over Saco, Old Orchard Beach, Portland, and Dayton to find you the best loan for your budget.

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Get Used Car Financing Near Me

When it comes to financing your used vehicle, you’re going to want to work with a team you trust. After all, we know auto financing can be a little overwhelming. The professionals at Prime Chrysler Jeep Ram will work with you one-on-one to come up with a finance solution that fits with your budget. And no matter your previous credit history, we encourage you to sit down and speak with our specialists.

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