When entering the buying process, finding the car that’s just right is the main goal. But of course, you want to be able to afford it, too. The reality is, many people lease their vehicles from a dealership, and many people buy them. Everyone’s situation is different.
At Baierl Automotive, we have put together this guide to discuss the benefits of both leasing and buying a vehicle in Pittsburgh, Wexford or Butler, so you can fully understand the decision ahead. If you have further questions, just get in touch with our financing department. They’ll be happy to answer them!
Lease vs. Buy: What Does Each Offer?
There isn’t a clear-cut answer to the lease vs. buy debate. Everyone’s situation will be different, but what we can do is present the benefits of leasing and buying so it’s easy to comprehend what you’re getting into.
Leasing a Car
With a car lease, monthly payments could be lower, with no down payment. Leasing also allows you to upgrade to a better vehicle for less money, with less costs up front every month. If you’ve your eye on a luxury vehicle but think it may only be a financially viable decision for the next two or three years, there might not be a need to buy the car.
In terms of maintenance and repair, your dealer may have an included factory warranty which covers repair costs for the duration of the lease. Maintenance costs may be lower with a lease as well, because a new car on lease won’t need the same type of care as a car you’ve owned for seven, 10 or even 15 years.
Lastly, with a lease, making the move to something new every two or three years is easy. You bring the car back to the dealership and can get into a new vehicle with the latest technology and safety features.
Buying a Car
When buying a car, it means you have a certain sense of freedom. Purchasing a car provides freedom to make modifications, whether you want to modify the sound system, change the exterior appearance or add interior accessories.
There’s also the freedom of ownership in that sense that you can sell the car whenever you’d like. Want to hang onto it for four years and sell it privately? That works. Want to keep it for 10 years and trade it in to the dealership? That works, too. Financial freedom may be an option, too: With an auto loan, you can pay it off over time, which means no monthly costs if it’s paid off in full eventually.
Mileage is another factor to consider. When buying, you can drive as many miles as you want to, because you own the car. Many leases limit how much you can drive, typically between 12,000 and 15,000 miles per year. Think about how much driving you do before deciding whether a lease or loan may be best.
Regardless of whether you’re buying a car or leasing one, our financing department is here to help. Access the financing application on our website and fill it out whenever it’s convenient.
When taking out a loan, payments are made monthly until the end, when the car becomes your own. With a lease, you pay monthly payments until returning the car to the dealership. Our finance team will explain the differences between buying and leasing your next car so you can decide about what’s best for you.
Visit Our Showroom Today
Finding a new car is a major part of the car buying process. Once you’ve found the car you want to drive for the foreseeable future, there’s the matter of financing it at terms friendly to you. The team at Baierl Automotive hopes this guide you leasing vs. buying a car has informed you about what each method offers.
Our car experts in Pittsburgh, Wexford and Butler will work with you to secure the financing terms you deserve. Visit our showroom or contact us today!