Should You Buy or Lease Your Next Car?

As you shop for a new or used vehicle near West Union, you may be wondering what financial strategy is best for you. The key to discovering the answer is determining whether you want to buy or lease. Both approaches have their benefits, so its best to take a close look at your current needs and monetary situation. As you browse car dealers and ask yourself, “Should I buy or lease,” let’s examine the benefits of buying and leasing.

The Advantages of Buying

Establishing the best time to buy can be challenging. Variables, such as cash on hand, current monthly debt, and other financial obligations, should factor into your decision. There are many advantages to buying:

Complete Ownership of Your Vehicle

When you purchase your car, truck, or SUV, it’s entirely yours. There are no restrictions. Decorate and modify it as much as you please.

No Restrictions on Mileage

You may want to consider buying your vehicle if you will be driving it outside of the Fayette area. If you lease a vehicle, there will be a cap on how many miles you can drive. But when buying, you have the option to drive as long and far as you want.

Option to Sell

Because you aren’t legally bound to a lease agreement, you can sell your vehicle at any time.

Simplified Financing

Though leasing a car isn’t rocket science, buying a vehicle has a simpler financing process. It’s not as complicated and better suited for people with cash on-hand, as well as those without a perfect credit score. Also, you have the option of refinancing your loan to get a better interest rate and lower monthly payments. These are just a few car buying tips to keep in mind as shop for a vehicle. If purchasing a car isn’t right for you, you can also lease it.

The Advantages of Leasing

Leasing a new vehicle allows you to drive a new car, truck, or SUV for a limited period, typically two to four years. Use a Chevy lease calculator to get a better idea of your payment. As with buying, there are many advantages to leasing:

Regular Trade-Ins

After your lease agreement, the process of acquiring your next vehicle is simple. Drive to your Postville car dealer, pay any outstanding fees trade-in your vehicle, and drive away in a new one.

Smaller Monthly Payments

When you lease your vehicle, the cost of monthly payments will be lower. Additionally, if a down payment is required, that’s typically lower as well.

Lower Sales Tax

Most states assess lower sales tax when leasing your vehicle. In certain individual states, you’re only required to pay fees on your down payment and monthly payments.

More Options

Leasing a vehicle gives you the option of driving the latest models regularly instead of being stuck with a car or truck that needs constant repair or maintenance.

Buy or Lease Your Next Vehicle at Birdnow Dealerships!

Buying or leasing a car is a difficult decision for some Fayette drivers. If you’re buying a used car, it may be better to buy it depending on its condition. If you want to test out the latest vehicles but can’t afford to finance it than leasing is the answer! Whichever vehicle you decide to take home, make sure it makes financial sense to buy or lease. Buying or leasing a vehicle is a multilayered process, so do your research beforehand. Whether you decide to buy or lease, you can consult the experts at our service department for questions on programming a Chevy key fob and any other service-related questions you may have. Contact us today to have any of your questions answered. Our professional finance and sales specialists are ready to help put you in the car of your dreams.