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.
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.