Buying Or Leasing: Here’s Your Guide
Sep 26, 2018
When it’s time to get behind the wheel of a new vehicle, choosing whether you want to buy or lease your new vehicle should not be a difficult choice to make. If you’re on the fence, we are here to help. This week we are going in-depth and providing you with the knowledge you’ll want to know when it’s time to make the choice for yourself. Check it out below and swing by for a test drive!
Ownership:
Buying – You own the vehicle when your last payment is made
Leasing – You don’t own the vehicle and must return at the end of the lease unless you choose to buy.
Up-Front Costs:
Buying – Include cash price or a down payment, taxes, registration, and other fees.
Leasing – Can include first month’s payment, refundable security deposit, fees, and down payment.
Monthly Payments:
Buying – Loan payments tend to be a little higher due to the price of the vehicle, plus interest, fees, taxes, and other charges.
Leasing – Lease payments are almost always lower because you’re only paying for the vehicle depreciation during the lease term.
Vehicle Return:
Buying – You can either sell or trade-in your vehicle. Because it is yours, you don’t have to return it.
Leasing – At the end of your lease, you will return your vehicle and pay any end-of-lease costs.
Mileage:
Buying – You’re free to drive as far as you’d like with no restriction on mileage.
Leasing – Most leases have limited mileage, often 12,000 to 15,000 miles a year.
Excessive Wear and Tear:
Buying – You won’t have to worry about this because you own the vehicle
Leasing – You are responsible and could have to pay for excessive wear and tear your vehicle endured.
Are you ready to get behind the wheel? We sure hope you are because we’re ready to help you! Stop in to see us today and let’s get you behind the wheel before those temperatures really drop!
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