Should I Buy or Lease a Buick or GMC?
An important part of getting a new vehicle is finding the best financial path to take, and finding out what works best for you in terms of leasing vs. buying. There are benefits to both buying and leasing, but which you choose depends on what your needs are, what you can afford, and what you want. Learn more about the benefits of both with us at our Bob Ross Buick GMC finance department today!
Benefits of Buying
- No Mileage Restrictions: If you’re driving your vehicle inside and outside of the Bellbrook area, you may want to consider buying. If you buy, you won’t have mileage limits to stay in.
- Financing Options: Though leasing isn’t too difficult, the car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you also have the option to refinance your loan to lower your interest rate and monthly payments.
- Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.
- Customization: If you’d like to make your new vehicle feel more “you,” buying it allows you to make cosmetic and mechanical changes as you see fit. Create the car of your dreams without restriction.
- Total Ownership: Buying a vehicle means it’s yours completely. This means you are free to do with the vehicle what you please.
- Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
Benefits of Leasing
- High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.
- Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
- Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as any issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.
- Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
- Options: When you lease a vehicle, you can stay up-to-date with the newest model year and the newest technologies.
- Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local Centerville dealership, Bob Ross Buick GMC, pay any remaining fees, and drive away in your next vehicle of choice.
Explore Leasing and Financing Options at Bob Ross Buick GMC
Whichever you choose, make sure you keep in mind your financial situation. Explore financing and leasing options with us at Bob Ross Buick GMC, browse our new vehicle specials to help you save, find out what good mileage on a used car is, find out how to finance a car with bad credit, compare the Buick Enclave vs. GMC Acadia, learn about the GMC Terrain price, and get behind the wheel of your new favorite model with us today! Contact Bob Ross Buick GMC to get the process started, to learn more about how car financing works, or if you’d like to learn more about the Wright Bros.