Should I Lease Or Own My Next Vehicle?

Are you looking to buy a new car at the Lake of the Ozarks? Deciding what type of car you want can be a journey on its own. However, after you pick out the perfect car, you will need to figure out how you want to purchase it. Do you want to own your car through loan payments, or do you want to lease it? At Hulett Chevrolet Buick GMC, we want to make your car buying experience as easy as possible. To help you decide which direction to go, we looked at the pros and cons of leasing and buying a new vehicle. 

 Leasing A Car

PROS:

- Typically, when you lease a new vehicle you have lower monthly payments and low or no down payment. 

- If you decide to lease, you can drive a better car for less money. If you have your eye on a car you cannot afford to buy, you might be able to afford to lease it. 

- Leases typically last anywhere from one to five years. After your lease is up, you can lease another car, which means you can drive a new car every few years. 

CONS:

- You don't own the car. After the lease is up, you have to return the car. However, there are always options to buy the car. 

- If you keep the car long enough, leasing can be more expensive in the long run then purchasing it. 

- If you need to end the lease early, terminating the contract could be expensive. In addition, if the car has excessive wear and tear, you may have to pay extra charges. 

Owning A Car

PROS: 

- When buying a new vehicle, you can modify and customize the car as you want it. 

- You own the vehicle and get to keep it as long as you want it. In addition, when you own a car, you gain equity to help pay for your next vehicle. 

- If you prefer driving the same car for a long time, buying is more cost-effective.

CONS:

- Although you don't have to worry about wear and tear, if you want to trade or sell for a new car, excessive wear and tear could lower the car's value. 

- Once the warranty expires, you're responsible for the repair costs. 

- You'll have to deal with selling or trading in your car when you decide you want a different one.  

Should I Own Or Lease?

When you decide to purchase or lease a vehicle, there are a couple questions you need to ask yourself. It is important to keep in mind that most lease arrangements have a cap on the number of miles you're allowed to drive the leased car per year. If you drive more than 15,000 miles in a year, leasing may not be a good fit for your lifestyle. 

Another question you should ask yourself is how long you will want to drive that car or truck. If you are the type of person who likes to change up their vehicle every few years, leasing may be the way to go. If you plan to drive the same car for more than five years, buying could be more cost-effective. 

If you are still feeling torn, our website can help you decide whether to lease or buy. In addition, our friendly and knowledgeable staff are always here to help you! When it's time to own or lease a vehicle, come to your midwest car dealership. We can help you find the right car or truck for your lifestyle.

Hulett Chevrolet Buick GMC
That's The Way We Do It At Hulett!

513 N. Business Route 5
Camdenton, MO  65020
www.ShopHulett.com
Sales: 573.317.4191
Service:  573.317.4195






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