Should I Buy or Lease a Car?

If you do not plan to purchase your next car outright in the Happy Valley area, you will have to decide between leasing vs. buying. A common question we hear at Weston Buick GMC, Inc. is, “Should I buy or lease a car?” There really is not a one-size-fits-all answer to this question, as each method has its own perks. What’s best for one driver may not be right for another. In the guide below, we compare leasing vs. financing to help you determine which option best suits your driving needs and budget. 

The Benefits of Leasing 

What is leasing? When you lease a vehicle, you are essentially renting it for a limited amount of time. With leasing, you won’t be able to build equity or sell the vehicle, but you will only have to pay for the depreciation that occurs over the duration of the lease term. 

What are the perks of leasing?

• Lower monthly payments
• Lower sales tax and down payment
• Warranty coverage for the duration of the lease
• The ability to drive a brand-new model every few years 

Other benefits of leasing vs. buying include flexibility. When your lease is up, you can renew it, swap it out, end it, or finance the remaining value of your lease. 

The Benefits of Financing 

What is financing? Portland drivers who opt for financing take out a loan on the full value of the vehicle with the intention of owning it when the loan is paid off. Financing also has its own unique benefits worth considering.

• The ability to customize your car any way you want
• Freedom to sell the car at any time
• No mileage limits or charges for excess wear and tear

Explore Leasing vs. Buying With Weston Buick GMC, Inc.

Should I buy or lease a car? We can help you answer that question confidently. Speak with our knowledgeable finance team today, and compare the pros and cons of leasing vs. financing. Contact us today if you have any questions.