Buying V. Leasing A New Car

 
When the time comes for you to get a new car, you have a few options - buying or leasing. Many people don't have the cash available to purchase a car outright, so financing options will help you get into the car of your dreams. There are certain benefits and drawbacks of both buying and leasing, so it is important to research and decide which is best for you. At Shults Resale Center, we have the resources you need to make the right decision and help you finance that decision. 
                                                                                                                                                                                       Pros and Cons of Leasing A Car          

               

Pros of Leasing a Car

           
               

Cons of Leasing a Car

           
  • Based only on a percentage of the car's price
  • Limits the number of miles you can put on a car, otherwise pay a few per mile
  • Smaller down payments
  • Can't make many alterations to the vehicle
  • Typically covered under warranty throughout the lease
  • Same car you would get renting, not building equity
  • Newer technology & safety features
  • Usually need good credit scores
  • Don't have to worry about selling it or trading in when you want a new car

Pros and Cons of Buying a New Car
                                                                                                                                                                    
               

Pros of Buying a Car

           
               

Cons of Buying a Car

           
  • Long term ownership
  • Depreciation in resale value
  • Gaining equity
  • Large down payment
  • Once it's paid off, you own it, there's no need to worry about monthly payments
  • To get monthly payments to fit your budget, you  might have to draw out the loan
  • No mileage restrictions

There is no one solution that works for everyone. When it comes to buying or leasing a new vehicle, it's all about is your personal lifestyle and preference. Take these tips into consideration when making the choice for your next vehicle. Our finance team at Shults Resale Center is experienced, and ready to help you make the right decision. So, stop by and see us today to find your next car or fill out the form below to help figure out what pre-owned car is right for you. We look forward to serving you!

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