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BUYING VS. LEASING A VEHICLE | Bob Ross Buick GMC | DAYTON, OHIO

When it's time for a new car, there are tons of benefits to both buying and leasing. You'll just have to find what's right for you! Here are some pros and cons of buying and leasing.
BUYING

    BUYING

    Pros
    • You own your car 
    • You can sell or trade your car at any time 
    • You aren't charged for wear and tear 
    • You can customize your car 
    • You can drive however many miles you want to 
    Cons
    • You'll owe the cash price and down payment, plus taxes and other registration fees up front 
    • Loan payments for buying a car are higher than lease payments and have steeper interest 
    • You'll experience a decrease over time in the cash value of your car
      LEASING

        Leasing

        Pros
        • A down payment up front isn't necessary; you'll only owe your first month's payment and a refundable security deposit
        • Lease payments are typically lower than loan payments
        • The car's decrease in value won't affect you
        Cons
        • You don't own your vehicle
        • Early termination charges, should you end your lease early, could be higher than the cost of keeping the car
        • You'll be limited to the amount of miles annually you can drive, typically 12,000 to 15,000 a year
        • If you have excessive wear and tear, you'll be charged extra
        • If you do make customizations, you'll have to restore the car to original condition before you return it

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