When it comes to getting a new vehicle, there are a lot of difficult choices you have to make. One of the moreimportant ones would be whether to buy or lease. Deciding which option is best for you can be hard, but with theright information, you can find the right one.
That's why we've included a list of various benefits for eachoption. Here at Thomas Buick GMC, we want our customers to make the right decisions so that they can have aworry-free driving experience.
Freedom of Choice
Freedom and flexibility are two of the leading benefits of leasing a vehicle. When leasing, customers have the option to drive a new vehicle every few years if they choose and postpone the purchase decision, without the inconvenience of having to sell or trade the vehicle.
Flexibility
The average leasing terms range between 24 and 60 months. With shorter terms, this enables you to make affordable payments. Plus, you're able to choose your mileage. Lessees are normally given 12,000 or 15,000 miles per year, but if you need a higher mileage limit, you're given the choice to purchase more miles at signing.
Lower Payments
Because you're only purchasing the right to drive a vehicle for a specific period of time, your financial responsibility and your monthly payments may be significantly reduced. Also, if you are not ready to put down a large down payment, then leasing may be better for you, as there are leasing options that require $0 down.
Hazard-Free Driving
Because most leases last for two to three years, your vehicle is generally covered with warranty protection for as long as you have it.
True Convenience
When a lease ends, you simply return your vehicle and pay any fees remaining (such as for excess mileage or wear and tear) and taxes. If you've decided that you'd like to keep your vehicle at lease-end, you can also take the opportunity to purchase it at a predetermined price. In either case, there's no need for you to sell it or trade it in unless it benefits you.
Ownership
Ownership is the best benefit of buying your next vehicle instead of deciding to lease. If you are looking to keep your vehicle for an extended time or for as long as possible, then buying is the better option for you. Plus, choosing to buy rather than lease provides you with the option to customize your vehicle to match your lifestyle.
No Mileage Limitation
When financing your vehicle, you are responsible for the miles you travel and don't have a mileage restriction like you do with leasing. Leasing requires that you calculate in advance how many miles you will drive each year. Ownership allows you the freedom to drive as much and as far as you desire without collecting fees.
Payment Flexibility
When purchasing a vehicle, you can choose to finance or buy outright with cash. If you buy with cash, you become the owner of the vehicle right away and don't have to worry about monthly payments. If you choose to purchase a vehicle by using a finance program, you have an extended period of time with a loan to pay off the vehicle. For the best outcome when financing, we strongly recommend that you acquire the most affordable, dependable and competitive rates possible, like what we offer here at Thomas Buick GMC.
True Freedom
When you complete your payment schedule, in typically four to six years, you own your vehicle. You can keep driving for as long as you desire without any further payments, or choose to sell or trade at any time. Once you own the vehicle, you are no longer making monthly payments, which means you could potentially place those same funds toward your savings.
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