TO BUY OR TO LEASE?
It's one of the most common questions we get! It's also a very personal decision that you'll need to consider. Below you will find some of the Pro's and Con's of Leasing vs Buying that will help you decide which will be the best choice for you.
LEASING ADVANTAGES
• Lower monthly payments
• Lower down payment
• Drive a better car for less money each month
• Lower repair costs (warranty covers almost everything)
• Easier to get a new car every two or three years
• No trade-in hassles at the end of the lease
LEASING DISADVANTAGES
• You don't own the car at the end of the lease
• Your mileage is limited to a set amount, typically 12,000-15,000 miles a year (excess miles are paid for at the lease termination)
• Leasing may be more expensive in the long run
• Wear-and-tear charges can add up if the car is not taken good care of
• Terminating a lease early may carry penalty fees
BUYING ADVANTAGES
• Pride in ownership — you can modify your car as you want
• Car buying is more economical in the long run unless you buy and trade-in regularly
• No penalty for excess mileage
• Increased flexibility — you can sell the car whenever you want
BUYING DISADVANTAGES
• Higher down payment is usually required
• Higher monthly payments
• You're responsible for maintenance costs once the warranty expires
• Trade-in or selling the car will be your responsibility when you want a new one