New Car Lease vs Buy

If you like to drive newer, safer, more reliable cars or trucks, not pay a large down payment every 3-4 years, and also do not drive an exorbitant amount yearly, then a new car lease may be better for you. Leasing is ideal for those who would prefer to avert the hassle of buying and selling each time they want to drive a new car or truck.

Contrarily, if you want long term automotive relationships with a higher sense of commitment and ownership, then buying could be what’s ideal for you. Car-buying is typically best for consumers who will not mind driving the same car for over five years or even until it is no longer suitable for the highway.

Knowing the pros, cons, and overall benefits of leasing vs buying a car is critical. Be sure to contemplate vehicle ownership, monthly payments, repair costs, and potential savings when considering the best new car financing type for you.

When it comes to vehicle financing, new car or truck ownership surely comes with many advantages, most associated with complete ownership of the car or truck. You may not be aware, however, there are also a few great advantages to leasing, as well. It’s imperative to consider all financial aspects including interest rate, down payment, monthly payments, term length, buyout payments, depreciation, and maintenance & repair costs, before making a decision. A precise inspection of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car.