When looking at getting behind the wheel of a brand new Chevrolet, you might ask yourself, “Should I buy or should I lease?” Luckily, our finance experts at our St. Louis Chevrolet dealer have answered the leasing vs. buying question for you…
It depends.
It depends on your situation, that is. Below are some of the benefits of Leasing vs. Buying to help you decide what option is best for you and your situation.
What Are The Benefits Of Leasing?
Lower Monthly Payments And Down Payment
When you lease, you’re paying for the depreciation of the vehicle during your lease term as opposed to the car itself. This option can help if you have a limited budget and/or have a lower downpayment to make. Typically, down payments tend to be lower with a lease. With this option and a lower payment, you might be able to afford more of the bells and whistles, than if you chose to purchase.
Newer Technology
The technology in Chevrolets changes from year to year. If you decide to get into a new lease after your term, you’ll be getting the latest technology GM has to offer. For those who need the latest and greatest features in their vehicle, leasing is the way to go.
Warranty Coverage
As long as you drive within your lease’s mileage limits, your vehicle is covered by a Chevrolet warranty. With a lease, you won’t have to deal with the financial headache of unexpected costly repairs or routine maintenance down the road.
What Are The Benefits Of Buying?
Car Payments Stop When Your Loan Is Paid Off
If you financed your purchase, you’re going to pay your lender until the loan is reimbursed. Once the loan is paid off, you own the title to your vehicle, which means you no longer have to worry about car payments and can decide what to do with your vehicle moving forward.
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You Own The Vehicle
Owning your own vehicle is a somewhat underappreciated benefit to purchasing. You can drive your vehicle more than you otherwise would to get your money’s worth or decide to drive it as little as you want to preserve its value. You can also customize your vehicle to your needs and wants, which could also increase the value the end.
Your Vehicle Is Worth Cash
You’re more liquid when you own a vehicle. By liquid, we mean you can trade your car in to cover the cost of your next ride – something you fundamentally can’t do with a lease.
Get In The Driver’s Seat Of A New Chevrolet Near St. Louis
Still not sure between leasing vs. buying? Our finance team can walk you through your options to give you advice based on your specific needs and wants. Whether it’s a lease or purchase, countless customers have driven off in a Chevrolet happy with their selection thanks to the help of our experienced finance team.
For any questions about the car the buying or leasing process, don’t hesitate to contact us at our St. Louis area Chevrolet dealer!
Check out more helpful Chevy info HERE and some of Weber Chevrolet’s happy customers HERE!
