Should I Buy or Lease?

car salesman assisting woman in vehicle

When it comes to getting a new vehicle Giddings drivers have plenty of choices to make. One of the most important decisions is, “Should I buy or lease?” Make sure you have all the information you need to make an informed decision on the best way to acquire your next car. The finance center at Oviedo Chrysler Dodge Jeep Ram FIAT is here to help you decide between a lease vs. buying.

Benefits of Leasing

If you’re deciding between lease vs. buying, keep in mind that leasing is a great option if you like to drive a new vehicle every few years, and want to pay less money upfront. Here are the details of the reasons why some Smithville choose to lease: 

  • Lower Payments: Monthly payments and down payments tend to be lower.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Trade-Ins: You don’t have the hassle of selling your used car. Just bring in your lease when the time’s up, pay any remaining fees, and drive home in a new lease. 
  • Great Coverage: Warranty coverage and maintenance is a breeze when leasing if you don’t go over your mileage limit. Any issue that pops up under your warranty is covered.
  • Options: Most leases only last a few years, so you’ll always be driving the most up-to-date car with the latest technology while you’re leasing

Benefits of Buying

Feel the pride of ownership when you buy a car and you’re not restricted by a leaser’s limits:

  • No Mileage Restrictions: If you have a long commute to Weimer or you take a lot of road trips, you may want to consider buying. Mileage limits on a leased vehicle might be too restrictive for you.
  • Total Ownership: Buying a vehicle means the car is yours completely. You are free to do with the vehicle whatever you please. There are no restrictions on how it’s modified or decorated.
  • Customization: Want to make your new vehicle stand out among the crowd? Buying rather than leasing allows you to make cosmetic and mechanical changes as you see fit. Create the car of your dreams without restriction, and keep it for as long as you want.
  • Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
  • Financing Options: The car financing process is more straightforward than leasing, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
  • Less Cost Over Time: You’re likely to make a larger down payment and monthly payments, but buying your car costs less in the long run. You’ll also have equity in your car when you buy it. 

Explore Leasing and Financing Options at Oviedo Chrysler Dodge Jeep Ram FIAT

The answer to “Should I buy or lease?” is a personal one, based on your finances and how you drive your car, new or used. We hope we’ve given you some help in deciding between lease vs. buying. Contact us if you’d like some help in deciding which option is best for you.

 

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