Buying vs. Leasing Your New Vehicle
When shopping for a new vehicle, there are a variety of decisions that must be made. In addition to what make and model you're looking for, it's important to decide if you'd rather lease or buy.
That decision can be a difficult one, which is why, here at Curry Honda, we've made a list of perks for both options. Keep reading to find out which one is right for you.
WHY LEASE A VEHICLE?
Freedom of Choice
Freedom and flexibility are the main benefits of leasing a vehicle. When leasing, customers have the option to drive a new vehicle every few years if they choose, and postpone the purchase decision without the inconvenience of having to sell or trade the vehicle.
Flexibility
Leasing terms typically range between 24 and 60 months. With shorter terms, you can make more affordable payments. You're also able to choose your mileage. Lessees are normally given 12,000 or 15,000 miles per year, but if you need a higher mileage limit, you're given the choice to purchase more miles at signing.
Lower Payments
Since you're only purchasing the right to drive a vehicle for a specific period of time, your financial responsibility and monthly payments may be significantly lowered. Also, if you're not ready to put down a large down payment, then leasing may be better for you, as there are leasing options that require $0 down.
Hazard-Free Driving
Because most leases last for two to three years, your vehicle is generally covered with warranty protection for as long as you have it.
True Convenience
When a lease ends, you simply return the vehicle and pay any remaining fees (such as for excess mileage or wear and tear) and taxes. If you decide that you'd like to keep your vehicle at lease-end, you can also take the opportunity to purchase it at a predetermined price. In either case, there's no need for you to sell it or trade it in unless it benefits you.
WHY BUY A VEHICLE?
Ownership
Ownership is the primary benefit of buying instead of leasing your next vehicle. If you are looking to keep your vehicle for a longer time frame, then buying is the better option for you. Plus, choosing to buy rather than lease provides you with the option to customize your vehicle to match your lifestyle.
No Mileage Limitation
When financing your vehicle, you're responsible for the miles you travel and don't have to deal with any mileage restriction. Leasing requires that you calculate in advance how many miles you'll drive each year. Ownership gives you the freedom to drive as much and as far as you desire without collecting fees.
Payment Flexibility
If you decide to purchase your vehicle, you can choose to finance it or buy it outright with cash. If you buy with cash, you become the owner of the vehicle right away and don't have to worry about monthly payments. If you choose to finance, you have an extended period of time with a loan to pay off the vehicle. For the best outcome when financing, we strongly recommend that you acquire the most affordable, dependable and competitive rates possible, like what we offer here at Curry Honda.
True Freedom
When you complete your payment schedule, typically in four to six years, you own your vehicle. You can keep driving for as long as you desire without any further payments, or sell or trade it at any time. Once you own the vehicle, you are no longer making monthly payments, which means you could potentially place those same funds toward your savings.
If you happen to have any questions or would like to get to know us more, come visit us at 5525 Peachtree Industrial Blvd., Chamblee, GA 30341. We look forward to serving customers from Atlanta, Alpharetta and Gwinnett.
