Should I Buy or Lease?

Man and Woman Signing Contract

 

While you may be looking for a new Buick or GMC model, you need to keep in mind if you’re going to buy or lease. Which one is a better option for you and your needs? Should you buy or lease? Learn more about both with our finance team at Texan GMC Buick today and we can help you decide which option best suits you to take home a used SUV today or a used truck.

Leasing vs. Buying: Long and Short-Term Costs

  • When you lease, you have lower monthly payments. You’ll also spend less on the down payment and taxes overall as well as service costs. However, if you upgrade your models with new leases every few years, your payments won’t change much over the years.
  • Financing means the change to eliminate your monthly payments. Buying can be more affordable than leasing new. Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, but also keep in mind that with age, maintenance costs will grow on a financed vehicle.

Leasing vs. Buying: Mileage & Restrictions

  • Those who finance with the intent to pursue full ownership will not have to worry about mileage limits or restrictions.
  • Those who lease their vehicles will have to stay within certain strict boundaries, or pay a fee when their lease term comes to a close.

In the end, if you tend to commute locally more often than not, then leasing will be a suitable option. If you like long road trips on the weekends, financing will be the better option.

Leasing vs. Buying: Total Ownership and Customization

  • When you buy a vehicle, you can customize it to your liking with as many parts and accessories as you see fit. While doing so with aftermarket parts may void the warranty, it’s your model to do with as you please.
  • Leasing a vehicle means needing to keep it as close to factory condition as possible. This is because when the vehicle is returned to the dealer at the end of the lease, it will be resold.

Leasing vs. Buying: Freedom, Options, & Processes

  • Financing means flexibility. While you’re locked into a contract, you can sell or trade in your vehicle at any time (as long as the vehicle is worth more than you owe). You can also refinance further down the line for a lower interest rate.
  • Leasing is convenient. As long as you take good care of the vehicle while it’s in your possession, you drive it back to the lease return center at the end of the lease and you can drive off in a new vehicle. You can also buy the vehicle you leased if you liked it.

Explore Leasing and Financing Options at Texan GMC Buick

Once you’re ready to finance or lease a new vehicle from our dealership near New Caney, get the pre-approval process started online. We can help you find the right model for you and your driving needs. Contact our team with any questions or for help getting the process started.

 

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