Time for a new vehicle but not sure if you should buy or lease it? You have come to the right place. There are benefits and downsides to each option, so in the end, it really comes down to your opinion and what you want to do. Keep reading below to learn about these pros and cons of each option!
Buying vs Leasing
If you are getting a new vehicle, then leasing is almost always an option. There are plenty of benefits to leasing a vehicle including the lower monthly payments. Monthly payments will be lower when you are leasing a vehicle compared to when you purchase a new vehicle. However, if you continue to lease vehicles, you will always have a car payment. Whereas if you buy the vehicle, your monthly payments will be higher, but you will eventually pay the vehicle off and not have vehicle payments anymore.
Since a lease is basically a contract, drivers will be responsible to stick to the lease regulations. Most leases that you will come about are for 36 months with a mile limit of 36,000 miles. This limitation might work for some drivers, but others it may not fit into their lifestyle.
As we mentioned above, whether you buy or lease your next new vehicle is completely situational and opinion-based. The stage of your life that you are at might be a good thing to weigh which option is right for you!
We hope that you found this information helpful! If you or someone you know is in the market for a new vehicle, be sure to keep us in mind. Our new vehicle inventory is full of great options! Stop by today or contact us with any questions!