Decide if Leasing or Buying is Right for You

Are you in the market for a new car but not sure whether you should lease or buy? The options can be overwhelming, but to help with your decision we've compiled some of the key differences between leasing and buying.

Buying

  • When you buy a car you have to have more money up front and each month.
  • You can pay off your loan early and avoid monthly payments.
  • You usually have an easier time selling or trading your car whenever you want.
  • Cars depreciate pretty fast so the car ends up being worth much less than what you paid.

Leasing

  • You have less up front costs and lower monthly payments.
  • If you always lease you'll always have a car payment.
  • Lease contracts are strict and difficult to break.
  • You can upgrade to the newest models after your lease is up.
  • You can get hit with additional fees for exceeding the mileage limit and for any damage to the car.

Contact our finance department for additional info.

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