With a Lease, You Can Usually...
· Drive a new car without a big down payment.
· Get a bigger, better-equipped car than you could afford to purchase.
· Enjoy a new car every few years.
· Only pay for the portion of the car's life you use.
· Receive tax benefits if used for business (depending on the lease, and state and tax laws).
· Invest any savings in appreciating assets (such as stocks, bonds, etc.).
· Spread applicable sales tax across monthly payments (varies by state).
· Enjoy the options to buy, lease another vehicle, or explore other choices at lease end, all without having to haggle over the value of trading it in. (Note: There may be end-of-lease costs for excess mileage, wear-and-use, and early termination.)
With a Purchase, You Can Typically...
· Build equity.
· Drive as many miles as you want. (Some leases limit the amount of miles you can drive)
· Travel with messy kids, pets, over gravel roads, and drive into ding and dent-prone parking lots without worrying about wear and use charges.
· Carry lower limits for auto insurance. See your insurer for actual quotes.
(Note: While purchased vehicles typically carry lower insurance limits, some lenders automatically include "Gap protection" for leased vehicles.)
· Sell, trade, or transfer title whenever you want (subject to loan requirements).
· Paying Cash vs. Financing
(Note: Attractive financing offers are available from time to time. Consider the value of money in the bank vs paying for a vehicle in full.)
Need more information before making this important decision?
Call our Sales team at (317) 831-2750.