McCarthy Chevrolet Blog

To Lease or Buy Your Car: Which Makes the Most Sense?

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Trying to decide if you would like to buy or lease your next vehicle? At McCarthy Chevrolet, we know that it can be a tough decision considering the many benefits of each option. To help you make the right choice, read this list of buying vs. leasing pros, and you’ll be well on your way to a new ride.

lease-or-buy

Main Reasons to Lease a New Car

  • You can drive a higher-priced and better-equipped vehicle than you otherwise might be able to afford. The monthly payments on a leased vehicle are usually cheaper than the payments when buying one.
  • You need not worry about fluctuations in the vehicle’s trade-in value, or go through the process of trying to sell it later. When you lease, you’re given the car’s resale value after your contract expires, and may buy it at the dealership or walk away.
  • You can get a new car every few years because lease contracts are usually for a shorter period of time than a financed purchase. When your lease term ends, you have many routes to take to buy or lease another new car. For instance, when returning a new Chevrolet leased through us, we’ll help you choose a replacement vehicle to lease or buy.
  • Driving a new car keeps you from spending a lot of money on complex repairs other than routine auto maintenance like tire rotations and oil changes.
  • A lease requires little or no money down, and in many states, you only pay the sales tax on the monthly payment and not the total price of the vehicle.
  • If the leased car is solely for business purposes, it can most likely be claimed as a tax deduction.

Main Reasons to Buy a Car

  • You are paying for a vehicle that you actually own, which gives you the pride of ownership.
  • You cannot lease a used car in most cases, but you can buy or finance one. If you don’t need the luxurious features of the latest new vehicle, a pre-owned car might be for you.
  • A vehicle that is bought becomes an asset that can later be sold or traded in—use our trade-in tool to evaluate your current used car value—for another make or model.
  • Insurance payments on a car you own are usually cheaper than on a car you are leasing, particularly as the years go by. A lease will always leave you with a higher car insurance premium.
  • A vehicle will normally live past the date that you make your last payment, meaning you will have many months without paying a car loan. You are always making a monthly payment when leasing a vehicle.
  • Many modern cars live well past 100,000 miles, so you can rely on your ride for many years.
  • You aren’t limited to mileage restrictions, wear and tear, or aftermarket car part installations. The car is ostensibly yours.

 

Leasing or Buying: Both Great Options at McCarthy Chevrolet

If you would like more information on leasing a new Chevy or financing a new or used car, contact our car dealership near Kansas City. We have many Chevy lease specials and used car financing deals available, so choosing the lesser of two evils is never needed at McCarthy Chevrolet in Olathe! Call our car sales floor at (913) 754-7208 or stop by our Olathe Chevy dealership at 675 N Rawhide Road to discuss your options.

 

Sources:

https://www.businessadvicesource.com/10-buy-a-car-instead-of-lease/6/

https://www.consumerreports.org/buying-a-car/pros-and-cons-of-car-leasing/

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