The Buying vs. Leasing Crossroads
Is One Better than the Other
Nearly every driver who has ever purchased or leased a vehicle finds themselves at the crossroads of whether they should buy or lease their next vehicle. While some drivers make this decision without second guessing, others want to do their research and discover which method of ownership works best for them and their particular lifestyle. Come with us as we talk about buying your next vehicle vs leasing it, and uncover how we at Rivertown Subaru help you drive off in your new ride no matter which one you choose.
The Pros and Cons of Buying a Vehicle
Car buying is fairly straightforward: you choose a vehicle and you pay for it either in cash or with an auto loan. To obtain an auto loan, your financier will pull your credit report to determine your eligibility and if qualified, they will grant you a loan with an interest rate that is determined based on your own credit score. You’ll be able to split the amount of your car loan into monthly payments that are comfortable for your budget. While most individuals commonly split their auto loan into 60 monthly payments, payments can sometimes be split into 84 monthly payments to lower the monthly costs, or split into as little as 24 monthly payments to pay off the loan amount faster.
Car buying is great for those who like to hang on to their vehicles or drive an excessive number of miles each year. Buying is also great for those who like to modify their vehicles, as these are all things that are not compatible with a lease. However, purchasing a vehicle does mean that if you do so with a loan, you may find that your vehicle depreciates faster than you make payments on it for the first few years, making it difficult to trade in for something new. However, purchasing a vehicle has been a great option for many buyers here in Georgia.
Leasing Your Next Vehicle
Leasing a vehicle is more like a long term rental rather than a purchase. When you lease a vehicle, you take a brand new vehicle of your choice, and drive it for a few years while making monthly lease payments. Unlike purchasing a vehicle, where you keep the car for as long as you’d like, with a lease, you agree to keep the vehicle for a predetermined period of time and return the vehicle when the lease is up. Also contrasting from a purchase, a lease involves you only paying the depreciation of the vehicle, plus a nominal finance fee. A car lease is great for those who like to drive a new vehicle every few years and keep up with the latest technology, however, it does have drawbacks of its own.
Leasing a vehicle comes with a mileage limit, and prohibits you from customizing or modifying the vehicle as well. Also contrasting from buying a vehicle, you never truly pay off a lease, as you start the process over with a new vehicle when your lease term is up. Nevertheless, many drivers enjoy the many benefits that come with car leasing.
Make Your Way to Rivertown Subaru
Whether you choose to buy your vehicle with cash or an auto loan, or you choose to lease it, we at Rivertown Subaru stand by you and help you drive home. Featuring incredible savings for both buyers and lessees, we feature an auto finance department who is determined to get you on the road in your dream car. Come in and test drive your favorite model. Whether you choose to lease or buy a car, we want you to come in and enjoy our hassle free car buying or leasing process.