Should I Buy or Lease?

If you’re searching for a new vehicle for sale near Bayside, you may be deciding which financial options are best for your budget. If you’re in between leasing vs. buying, you’ll need to think about what you can afford, what your needs are, and the type of driving experience that you’d like to have. We’ll dive into the benefits of financing and leasing so you can know which is best for you.

Lease vs. Buying: Benefits of Buying

• No mileage restrictions to adhere to: If you enjoy taking long drives around and outside of the Flushing area, buying allows you to travel far and wide without mileage restrictions.
• Complete ownership of the vehicle: When financing a vehicle, once your loan is paid off, you have complete ownership of the car. This means that you can customize and modify the vehicle to your liking.
• Ability to sell: Because you’re not locked into a lease agreement, you have the ability to sell your automobile.
• Smooth financing process: Some drivers will find that apply for financing is a much easier option than leasing, especially for those who have less-than-perfect credit scores. You can also refinance your loan to lower your interest rate and monthly payments when you buy.
• Save more money over time: Though the initial costs of purchasing a car can be expensive, these costs become less of a burden over time as you work towards paying off your loan. When you own the vehicle, it becomes less expensive the longer you have it.

Lease vs. Buying: Benefits of Leasing

• Lower Payments: From monthly payments to down payments, leasing a vehicle can lower these costs as opposed to when buying.
• Lower sales tax: In many states, leasing a vehicle can lower sales tax. In some areas, you only have to pay tax on the amount you pay for the down payment and for the monthly payments.
• Easy trade-ins: Once your lease agreement is over, it’s an easy process to upgrade to a new one. All you have to do is pay any remaining fees, then you can drive off to Roslyn in your new ride.
• Great warranty coverage: As long as you don’t go over the mileage limit, warranty coverage and maintenance when leasing a vehicle is covered.
• Wide variety of options: Leasing makes sure that you can always stay in the newest models with the most up-to-date technology.

Finance or Lease Your Next Vehicle with North Bay GMC

Still asking yourself, “should I buy or lease?” It’s best to remember that you should base this decision on your financial circumstances and personal needs. If you still have questions regarding whether you should choose to lease vs. buying, including questions about taking over a car lease, or how to buy a car, contact us today and our finance experts will help find the best solution based on your situation. Or, you can apply for financing online to get pre-approved today! Also, while you are here, be sure to learn how to check your brake fluid, how to refinance a car, or the meaning of CPO!