Lease Vs. Loan Pages

Lease vs. Loan: Discover the Best Option for You

Auto financing can be time-consuming and confusing, but our finance team is here to make your shopping experience easier by providing the information you need. When you begin considering your financing options, one of the first decisions you will have to make is choosing a lease or loan. One payment option isn't inherently better than the other, but you may discover one suits your lifestyle better.


Advantages of Leasing

If keeping your monthly payments to a minimum and enjoying cutting-edge technology are priorities for you, then leasing your next vehicle could be the best option for you. Depreciation of the vehicle during your term is the primary cost of leasing, and you don't have to pay off the entire cost of the vehicle. The extra flexibility in your budget allows you to consider more features and amenities for your money.

Some of the top reasons to lease include:

  • Lower sales tax
  • Lower monthly payments
  • No need to find a buyer
  • Lower repair costs with the vehicle under warranty
  • Easily transition to a new car every two to three years

Benefits of Buying

Many drivers choose to buy their vehicles for the long-term benefits and freedom in ownership. Since the car is yours, you can choose to modify it and drive it as you please. If you want to paint the vehicle a new color or install an accessory, it's completely up to you. When you pay off the loan, you will have no monthly payments, and you can use the value of the vehicle towards your next purchase.

Some of the benefits of buying include:

  • Modify your vehicle to match your needs
  • Build equity
  • Save money in the long run
  • No excess mileage penalties
  •   Use the value towards your next vehicle

Contact Our Finance Team

If you want more information and to explore your options, our finance team is here to help you find the payment plan that suits your lifestyle and budget best. Contact us today.