Should you lease or should you buy?
Virtually everybody in the United States, if not the world at large, needs a vehicle to transport themselves to work, school, church, shopping, and everywhere else. However, not everybody has enough money to purchase a vehicle, while others are at an impasse. Should you buy or lease your next new ride? Let’s dip into the main differences between leasing and financing the purchase of a vehicle so you can make that decision.
- Leasing means you are getting your hands on newer, high-quality cars with tons of new options. Buying allows you to modify the vehicle or sell it at your convenience without penalties.
- When leasing, you’ll know the full value of the entire lease, regardless of how long it lasts, before you sign an agreement. Both financing and leasing allows you to spread payments out over long periods of time, unlike purchasing cars outright with cash.
- Drivers who lease can afford many different vehicles over their lifetimes, too, while buying tends to require a large down payment that could eat into your funds.
No matter what type of vehicle you’re thinking about leasing or buying, talk to our experts at Sam Leman Automotive Group.