Should I Buy or Lease?

Man and Woman Signing Contract

 


Making sure that you’re finding the right vehicle that fits your needs and budget is important, but that’s not the only thing you that you need to keep in mind when it comes to your financial situation! That’s why the team at Dan Cava's Buick GMC is here to help you make sure that you’re making the right choice between leasing vs. buying and finding which one is right for you. Find out today should you buy or lease a vehicle, and which one gives the benefits that you need the most today before heading back to Fairmont in your new-to-you vehicle. Contact us today if you have any questions about the process.

Leasing vs. Buying: Mileage & Restrictions

When it comes to making the decision of lease vs. finance, there’s another few factors to consider, aside from the financials, one of which being mileage restrictions. Read below to see how they apply to each scenario:

  • Those who finance intending to buy the vehicle for its remaining value at some point will not have to worry about mileage limits or restrictions. It’s going to be your car after all!
  • However, those who lease their new vehicle every few years will have to stay within some fairly strict boundaries, or pay a fee when the lease comes to a close at the end of its term.

Leasing vs. Buying: Total Ownership and Customization

If you’re interested in working with our service department on modifying your vehicle to perform better on or off road, it should be noted that there’s also restrictions on doing so for leased vehicles. Read below to discover this important difference in leasing vs. buying.

  • When buying/financing a vehicle, you can add whatever accessories your heart desires! Aside from possibly voiding your vehicle’s warranty, there are no restrictions on modifying your purchased vehicle in this scenario because, again, it’s yours!
  • When leasing, you’ll need to keep the Buick, GMC as close to factory condition as possible. The dealership still owns the vehicle at the end of the day, and it’s up to them to resell it once you return it.

Leasing vs. Buying: Long and Short-Term Costs

It should be noted that statistically, most Morgantown drivers keep their new vehicles for an average of about three years, often because they’d like to enjoy the latest features available with the newest models! That in mind, here are some positives for each option when it comes to leasing vs. buying.

  • A positive for leasing for many Grafton area residents is that it offers lower monthly payments right off the bat. You’ll also typically spend less on your taxes and down payments. Starting a new lease every few years also helps ensure that you won’t have to deal with escalating repair costs.
  • On the other hand, financing/buying is great because it provides you with the opportunity to eliminate your monthly payments entirely. Buying used and financing typically go hand in hand, and buying used is often synonymous with savings! The only downside tends to be the cost of service and repair as vehicle ownership goes on.

Find Out More Today with Dan Cava's Buick GMC

Now that you know more about should you buy or lease, then you’ll be ready to see what our finance department can do to help you! Get started on buying the latest new model today by applying for financing and let our team handle all of the paperwork for you.

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