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Should I Buy or Lease?

Person reviewing car lease contract

Deciding between a lease vs. buying your next car comes down to what your budget and needs are. Read on to learn more about which financial path best suits you, and then apply for financing and get a value for your trade-in to get started. Our financiers can help Lakeland drivers do the rest.

Benefits of Buying

  • No Mileage Restrictions: When Valrico drivers ask themselves, “Should I buy or lease,” one thing they need to consider is that a lease features mileage limits. That means that when you buy, you won’t be at risk of going over the limit and incurring fees.
  • Total Ownership: Once you’ve paid off your car, it’s yours to sell.
  • Customization: If you like to do DIY repairs, accessorize, or do custom jobs, you’ll have to finance your car.
  • Less Cost Over Time: While leasing costs less in the immediate, when you sell a car that you’ve paid off, in most cases the return from the sale makes financing more cost effective overall.

Benefits of Leasing

  • Lower Payments: When you lease, your payments only go to cover the depreciation of the vehicle’s residual value over the course of your lease term. This means your down payment and your monthly payments will frequently be much less.
  • Less Sales Tax: When you choose to lease, the majority of states only require that you pay sales tax on your down payment.
  • Great Coverage: Leased vehicles remain under their manufacturer warranty, meaning that Brandon drivers don’t have to pay for vehicle service.
  • Options: When you lease, your term is up every 3 years, meaning you’ll have the option to try out a new car frequently. If you’re asking yousef, “Should I buy or lease?”, and you’re unsure of whether you want to commit to a long-term loan, leasing may be the perfect solution.

Learn More About the Differences Between a Lease vs. Buying

If Tampa drivers still have questions about leasing vs. buying, don’t hesitate to give us a call at (813) 359-5000 Our financiers can take a close look at your financial history and your needs and come up with perfect options. We’ll make sure you don’t miss out one applicable incentive or Chevrolet special. Do you have other car buying questions? Don’t forget to check out our car buying tips for more informative reads about how to get a good interest rate for a car loan and more!

 

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