Buying vs Leasing a Car - Which is Better?


If you aren't 100% sold on buying a new or used car, we've listed the benefits of leasing and why it might be a better fit for you than purchasing. Buying a car is not for everyone, but there are always other options. For a lot of people, the choice of leasing a new vehicle is better than buying, for a number of different reasons and based on their situations. If you decide that leasing a car is a better option over purchasing one, there can be a lot of benefits.

- Benefits of Leasing a Car -

Lower Payments

Leasing is purchasing the right to use a vehicle for an extended time frame (typically two years). During a lease, you're essentially paying the difference between the new car's value and the pre-determined value at the end of the lease. You pay the difference between the two, which means you get more car for less money. Since you are not buying the car, there will be lower monthly payments.

Convenience

Returning your leased vehicle once the contract expires is fast and easy. Once your lease on the car expires, simply return the vehicle to the dealership and pay any remaining fees and taxes. Even if you're stuck in a lease with another dealership, odds are we at Shuman Chrysler Dodge Jeep Ram can get you out of it.

Safety

Consistently leasing a new vehicle means you'll have access to and be protected by the most innovative safety systems year after year. The technology behind safety systems in the automotive market is changing fast, with complex technologies taking the reins in the past few years. As a result, leasing a vehicle means you'll be better-protected on the road.

Fluidity

If you lease a car and find you've fallen in love with its power, capability, versatility, or any of its other features, there's always the option to buy it outright once the lease is up. More or less, the fluidity of a lease allows drivers to buy a car once the lease is up without paying the full new car price. As a result, there's little risk in leasing since you can buy the car outright after the lease.

Hazard-Free Driving

Most lease agreements include a protection warranty while the car is under your name, so you are typically protected for the duration of the lease since they only last a couple of years

More Options

Once your first lease is up, you can choose a different new car to lease, that way you're always driving around the latest and greatest


- Benefits of Buying a Car -

Unlike leasing, buying a car is much more expensive, but it does have a few benefits to go along with it. These benefits can outweigh the drawbacks if a driver is in the right situation. If you choose to buy a vehicle outright, we at Shuman Chrysler Dodge Jeep Ram will be happy to help you along the way!

Driving

One of the major benefits to go along with buying a vehicle is the lack of mileage restrictions. While most drivers fail to reach their annual mileage restriction in a lease, drivers who travel a lot might find that buying a car could be more beneficial than leasing.

Equity

Drivers who choose to buy their vehicle gain equity as they continue to make payments on it. Once the loan is paid off, the car is yours to keep with no consequences outside of what car owners typically deal with.

Age

As a car ages, it decreases in value and can be difficult to resell. Most drivers who buy a car plan to keep it for a significant number of years. After the loan is repaid, those drivers don't have to make another payment on the car, allowing them to save money as their car ages. Those drivers could find themselves paying hefty repair bills as the car ages, though.

 

Shuman Chrysler Dodge Jeep Ram in Walled Lake offers incredible buying and leasing options on a variety of new and used cars, trucks and SUVs to the Metro Detroit area.

 

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Contact

Shuman Chrysler Dodge Jeep Ram SRT

1111 South Commerce PO Box 125
Directions Walled Lake, MI 48390

  • Sales: (248) 560-7651
  • Service: (248) 560-7734
  • Parts: (248) 574-4462
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