Lease VS Buy New

If you're thinking about whether leasing or buying a vehicle is right for you, the answer depends on your individual situation. When you lease, you are paying to use the vehicle while buyers pay for ownership of the vehicle.

When making a decision, consider your financial situation as well as personal priorities.  Is having a new vehicle every two years to four years more important than long-term cost? Or do you feel more secure in a vehicle that's yours to keep? 

When you buy, you pay the entire cost for the vehicle.  If you're financing, monthly payments tend to be higher and you have to pay an interest rate. Since you own the vehicle, you may sell or trade as long as you have your creditor's approval. If you keep your vehicles for a long time, buying is a good decision.

Leasing allows you to pay only a portion of the vehicle's cost while driving the vehicle.  A down payment is not required but many states require a monthly state tax. You are also required to pay a financial rate, similar to the interest on a loan. At the end of your lease period, you have the option of buying the vehicle or turning it back in.  Lessees should to be careful not go over the mileage limit in their agreement as mileage fees can quickly add up. It's also important to keep your leased vehicle in good condition as wear and tear charge can apply. 

In the end, it all comes down to personal priority and preference. Decide what is important to you, as well as your current financial situation. 

If you have questions or are ready to find the car right for you, come on in to our state of the art dealership so we can help you with all your automotive needs.

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