Should I Lease or Buy?

When you want to drive a new vehicle, you need to make a choice: do you want to buy or lease? Both options have their pros and cons, and are best for different kinds of drivers. Here is a quick rundown of the two:

Leasing: Leasing has lower monthly payments and a lower down payment than buying. When you lease a vehicle, you pay for its projected value depreciation over the course of the lease. The lease period is almost always completely covered by the vehicle's warranty, you know that you're covered. A potential downside of leasing is that a leased vehicle has a yearly mile limit, and you need to pay for every mile you drive over the limit.

Buying: Buying a vehicle means that it is fully yours once the loan is paid off. You can modify it as much as you want. Even before the loan is fully paid, you can still drive as much as you want with no worry of going over the limit.

If you have any questions about buying or leasing, the experts in our finance center have plenty of answers. Come visit us here in Batavia, NY, and we'll help you find the best plan for you.

Categories: Finance
; ;