When you’re looking for your next car, you have a couple of financing options: buying and leasing. There’s no right or wrong answer when it comes to buying versus leasing. This short guide helps you understand which option at Skinners Chevrolet Buick GMC is the better fit for your budget.
If you are looking to find a vehicle that you can keep for as long as possible, buying is the way to go. This option requires you to obtain a loan, on which you will make monthly payments until you pay off the car. When you buy a car, you have no limitations to mileage, customization, or the length of ownership.
When you lease a car, you pay monthly to borrow the car from the dealership for an approved length of time. Most lease periods last from two to three years, and when the time is up, you simply return the car to the dealership. Because of this simple, straight-forward formula, a lease is a great option for someone who prefers getting something new every two or three years. Leasing is also appealing because it is more affordable month to month. Lease agreements have low or zero-down payments with lower monthly payments than traditional car loans. However, lease agreements will have limitations on mileage, which is an important factor to consider when thinking about leasing a new car.
Stop in at Skinners Chevrolet Buick GMC to test-drive a new vehicle off our lot.