Buying vs. Leasing

Mar 29, 2017

Looking for a new car, but unsure about what is the best choice between buying or leasing? This decision will ultimately depend on your needs, not only financially, but also in terms of the purpose of the car. Keep reading to learn more about advantages of each, in order to help you determine what will work best for you!

Advantages of Buying:

If you’re looking to have a car that you can modify to your taste, then buying might be a better choice for you. When you purchase a vehicle, you are the owner and therefore you can modify it as you wish (within the bounds of the law). You can also drive the vehicle as much as you want, since there are no mileage restrictions. If you have longer commutes, or enjoy going on long road trips, purchasing a car may be the better option for you.

If you take proper care of your car to ensure it has a good, long-lasting life, then buying a car might be more economical in the end. If you buy a car that lasts you for several years, and you are able to drive it for thousands of miles, then you’ve really made the most out of it, and are more likely to end up spending less money in the end.

Advantages of Leasing:

If you are looking for lower monthly payments on your car, then a lease might be the way to go for you. Leasing means lower monthly payments and a lower down payment than purchasing a car. In some cases, there may not even be a down payment at all with a lease!

Since you are making lower monthly payments, leasing a vehicle allows you to drive a higher-end model for a very affordable price. Yes, this means you can get that high-level trim with all the fancy details you’ve always wanted for a great price!

We cannot emphasize the lower cost enough, but if you are the type of driver that only uses the car to go short distances, then a lease is definitely the better option. There is a restriction on the amount of miles you can put in the car, but if you generally commute short distances, then you can get a better car for a much lower price. In addition, a lease is more affordable to service due to the default factory warranty. This means paying less out of pocket for repair services than you would with a purchased car.

With a lease, the trade-in pressure is lifted because you return the vehicle at the end of the lease period (as stated in your contract) and then it’s up to you to either lease another vehicle, purchase a car, or simply go without one. There is no need to worry about trading in the vehicle, or even finding a buyer when it’s time to let go of the car.

Overall, buying or leasing a car is a personal preference. Our Sales Consultants are here to help you and they will gladly walk you through your different options and their advantages to determine what will work best for you. We also encourage you to check our Incentives page to check out our current offers and specials!