Should I Buy or Lease?

If you’re a Waxhaw driver asking yourself, “Should I Buy or Lease?” After meeting with our talented finance team at Hendrick Chevrolet Monroe, it will hopefully lead you to a decision for your new vehicle! As you compare the benefits of lease vs. buying, there are pros and cons you’ll notice in either option. Read our guide below to help answer your question, “Should I buy or lease?” Then visit us at Hendrick Chevrolet Monroe!

Lease vs. Buying: Buying Benefits

• No Mileage Restrictions: If you tend to commute to long distances like Weddington, not having any mileage restrictions is better. Leasing limits the mileage on a vehicle.
• Total Ownership: You’re able to modify and do as you please if you buy your vehicle without restrictions.
• Customization: After you purchase your vehicle, feel free to transform your car into your dream vehicle with customization changes.
• Ability to Sell: Without a lease agreement, you have the ability to sell your car whenever.
• Financing Options: For some shoppers, the wide variety of auto loan options is preferable, including long-term and short-term payoff plans with higher or lower monthly payments. Additionally, you could potentially refinance in the future and save money. Be sure to check out the insurance and financing information before proceeding.
• Less Cost Over Time: As you work to pay off your loan, the ownership of your car becomes less expensive even though the initial purchase may be a bit more expensive.

Lease vs. Buying: Leasing Benefits

• Lower Payments: When you lease, down payments and monthly payments are less expensive. If you have bad credit, taking on a lower monthly lease payment could help you build your credit and work toward financing to own in the future if that is your ultimate goal.
• Less Sales Tax: In many states, if you lease a car the sales tax is drastically lower. Some states only require drivers to pay taxes on the monthly payments and down payment.
• Trade-Ins: After the lease agreement is up, driving off the lot in a new leased vehicle is much faster than trading in a purchased vehicle. Come into Hendrick Chevrolet Monroe, pay any outstanding fees, then take home a new leased vehicle!
• Great Coverage: Your lease warranty covers any repairs or service maintenance you may need on the vehicle at little to no cost; just make sure to stay within the mileage restrictions.
• Options: Since you’re leasing, the opportunities to try new models while experiencing the latest technology in the market and much more are just some perks to look forward to.

Learn More About Financing with Hendrick Chevrolet Monroe!

Now that you know more benefits of leasing and buying, we hope you’re able to better answer your question of, “Should I buy or lease?” If you do have any lingering questions, please do not hesitate to contact us at Hendrick Chevrolet Monroe near Matthews today!