Should I Buy Or Lease My New Vehicle From V&H Automotive?

When it's time to sit down and discuss your vehicle financing options, you may be asking the question, "Should I lease or buy?". Both of these options are valid and can be a great fit for different people. Really, the choice of leasing or loaning is up to your personality and preferences. Take your time and research which option would benefit you more and, if you discover any questions along the way, feel free to contact us, here at V&H Automotive.

Benefits Of Leasing 

When you lease a vehicle you are only paying essentially what the depreciation of the vehicle would be over your lease term, plus any fees or warranties that you apply. This lower cost makes your lease have plenty of benefits.

  • Lower Monthly Payment - Due to the lower starting price, your monthly payments will most likely be less than a loan.
  • Low Or No Down Payment - Most leases require either a small down payment or no money down. This saves you even more money up front.
  • Covered Under Warranty - Most new vehicle warranties last about three years, which is the normal lease length, which means that any larger repairs will be taken of. Some leases even include routine maintenance.
  • New Vehicle With The Latest Tech - You will always receive the newest models when you lease, which means you'll always have the latest technological devices and designs.

Benefits Of Buying 

When you buy a new vehicle you own the car. This may sound simple, but, unlike leasing, once the loan is paid off, you'll have a car with no monthly payment. Owning your vehicle also comes with many benefits.

  • Monthly Payments Eventually Go Away - Although we've already mentioned this, it's worth saying again. Once you've paid off your loan you are payment free!
  • No Mileage Restrictions - Most leases have a set number of miles that your leased vehicle can travel or else you'll receive a fee. When you buy a car, you can take that long road trip without having to worry about it.
  • Customize Your Car - When you own your vehicle, you can do whatever you want with it. Add accessories, make it your own, and sell or trade it in whenever you'd like without having to worry about fees. 

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Frequently Asked Leasing Vs Loaning Questions 

If you're like most people, then you most likely still have questions about the leasing or loaning process. Below you'll find some of the more frequently asked questions that we receive. If you don't find the answer to your specific query, please feel free to contact us, either via phone or live chat, and one of our associates would be happy to help you. 

What Happens When My Lease Ends?

If you've been enjoying your lease, but it has now ended you have three options: walk away, buy the car, or lease a different car. 

  • Walk Away - If you've discovered that leasing isn't for you, then feel free to return your lease and find a vehicle to loan.
  • Buy The Car - If you've enjoyed the vehicle that you've been driving, then you can purchase it for an agreed upon price.
  • Lease A Different Car - Enjoyed leasing? Then return your current lease and find a brand-new car to start a new lease on.

Which Financial Option Costs Less Over-All?

In the long run, you'll discover that buying a new vehicle will cost you less money. Up front you'll pay more, especially with a large down payment, higher tax costs, and more expensive monthly payments, but, after you've paid your loan, you'll be driving a like-new vehicle with no payments. Of course, you should take into consideration the new-car warranties that will eventually expire in a loan, but will restart with a new lease. 

Would Leasing Or Buying Be A Better Option For Me?

As much as we would love to give you a definitive answer, the choice is really up to you.

Do you prefer owning your vehicle? Do you tend to drive many miles throughout the year? Are you the type of person who likes to drive a car until the wheels fall off? Then perhaps you should look into buying your new vehicle. 

Do you always want the latest and greatest technology and features? Are you the type of person who would rather have a new car every few years than stick with an old one? Are your travels normally short and you don't normally receive a lot of excessive wear and tear? Then perhaps you should look into leasing a new vehicle. The choice is up to you.