Leasing VS Financing

Leasing Advantages:

  • Lower Monthly Payments: Lease payments are typically lower than loan payments for a comparable vehicle, as you're only paying for the use of the vehicle for a specific period of time, rather than the entire cost of the vehicle.

  • Lower Down Payment: When you lease a vehicle, you typically don't need to make a large down payment upfront. This can make it easier to get into a new vehicle without having to save up a lot of money first.

  • Access to Newer Vehicles: Leasing allows you to drive a newer vehicle with the latest technology and features. This can be especially appealing if you like to have the latest and greatest gadgets in your car.

  • Lower Maintenance Costs: Lease terms are typically shorter than loan terms, so the vehicle is generally under warranty for the duration of the lease. This means that you won't have to worry about expensive repairs or maintenance costs, as they will be covered by the manufacturer warranty.

Financing Advantages:

  • Ownership: When you finance a vehicle, you own it outright once you pay off the loan. This means you have the freedom to make modifications, sell the vehicle, or use it as collateral for another loan if needed.

  • No Mileage Limitations: When you own the vehicle, you don't have to worry about exceeding mileage limitations, which can be a concern with a leased vehicle.

  • No Excess Wear and Tear Fees: When you own the vehicle, you don't have to worry about being charged for excess wear and tear at the end of the lease term.

  • Build Equity: As you make payments on your loan, you're building equity in the vehicle, which can be a valuable asset if you choose to sell it in the future.

Ultimately, the decision to lease or finance a vehicle comes down to your individual needs and preferences. We're here to help you make an informed decision and find the financing option that works best for you. Contact us today to learn more about our leasing and financing options.