To Lease or Not To Lease?

Are you looking to buy a new car at the Lake of the Ozarks? Deciding which type of car you want to get is a journey all on its own, but it's not the only decision you'll have to make. Once you decide what type of car you want, you have to decide how you want to purchase your new vehicle. Leasing new cars and financing new cars are the two main methods you can choose from.

At Hulett Chevrolet-Buick-GMC, our goal is to make your experience of buying a new car as easy as possible. To help you decide whether your want to lease or finance your next vehicle, we took the time to lay out some of the pros and cons of each side. We hope this helps!

Leasing a Car

PROS:

• Lease arrangements typically require a much lower down payment.
• Monthly payments for lease arrangements are usually lower.
• Because leases typically range from 1-5 years, you can drive a new vehicle every few years.

CONS:

• At the end of the lease, you have to return the vehicle.
• Terminating a lease contract early can be expensive.
• If you plan to keep the same car for several years, leasing typically costs more in the long run.

Buying a Car

PROS:

• You get to customize your vehicle any way that you want.
• If you prefer to drive the same car for a long time, buying is the most cost-effective route.
• You can choose to trade in or sell the car and get a new one at any time.

CONS:

• You could be in charge of handling any necessary repairs to the vehicle (there may not be a warranty covering them).
• Monthly payments and the down payment will typically be larger when you finance a vehicle.
• When you are ready for a new vehicle, you have to handle the potential hassles associated with trading in or selling your old car.

Additional Observations

As you narrow in on your decision about whether to buy or lease your vehicle, there are a couple other considerations to keep in mind. For one thing, most lease arrangements include a cap on the number of miles you're allowed to drive the car per year. If you typically drive more than 12,000-15,000 miles in a year, a leasing arrangement may not be a good fit for your lifestyle.

One of the biggest factors to consider when choosing whether to lease or finance your next vehicle is how many years you can see yourself driving that car or truck. If your vehicles typically last you more than five years, buying a car is probably your best option. If, on the other hand, you prefer to trade in and get a new car every few years, leasing will enable you to get more car for less money and could be the smarter choice.

Ultimately, whether your opt to buy or lease your next vehicle is completely up to you and your specific needs and wants. If you're feeling torn, we offer a handy tool on our website that can help you decide whether to lease or finance. Our friendly, knowledgeable sales staff are always here to help you as well!

The Team at Hulett Chevrolet Buick GMC

513 N. Business Route 5
Camdenton, MO  65020
www.ShopHulett.com
Sales: 573.317.4197
Service:  573.317.4195