Should I Buy or Lease?

When you’re shopping for a new car around Buffalo, one of the first things you’ll have to decide is if you want to buy or lease your vehicle. There is no one right answer to the question, “Should I buy or lease?” However, there are advantages and disadvantages of each option, based on what you’re looking for. Robert Basil Buick GMC has put together a quick overview of the benefits of each choice, including cost comparison, mileage restrictions, and flexibility. Check it out, then feel free to browse our online inventory to find your next ride!

Leasing vs. Buying: Cost Comparison

• Leasing: Leasing makes financial sense if you plan on starting a new lease every few years. This keeps your monthly payments about the same without having to worry about increasing service and repair costs on your current vehicle. It also lets you continually update your car to the newest model rather than keeping an older vehicle.
• Buying: If you choose not to lease a car, you can apply for financing. Financing enables you to be a bit more free financially – once you pay the car off, it’s yours. You’ll ultimately be paying less than a driver who’s beholden to a monthly lease, especially if you decide to finance a used vehicle.

Leasing vs. Buying: Mileage Restrictions

• Leasing: If you lease a vehicle, you have set mileage boundaries that you have to stay within according to your lease agreement. Going over these boundaries can result in having to pay a fine at the end of the leasing period.
• Buying: When you buy a vehicle, it’s yours – there are no mileage restrictions. This makes buying a better choice if you’re planning on long road trips or frequent off-road adventures.

Leasing vs. Buying: Customization

• Leasing: As with mileage, your ability to customize your vehicle is restricted in your lease agreement. Since the dealership owns your vehicle, they’ll probably want to resell it after your lease is up, which means they won’t want any accessories or alterations made.
• Buying: Again, once you buy a car, you own it and can do whatever you want to it. You’re free to add whatever accessories or upgrades you want – just be sure they don’t void the warranty.

Leasing vs. Buying: Freedom & Flexibility

• Leasing: The leasing process is easy and convenient. At the end of your lease term, you can either bring your car back to Robert Basil Buick GMC and swap it out for a new model, or you might be able to buy out the lease and keep your current vehicle for good!
• Buying: If you finance your vehicle in hopes of buying it, you can still sell or trade it in even when you’re still under contract (as long as you owe less than the vehicle’s worth). This option offers a bit more flexibility than leasing, which is more restrictive.

Explore Leasing & Buying Options at Robert Basil Buick GMC

Whatever your choice may be, Robert Basil Buick GMC is here to make the buying or leasing process as smooth and easy as possible for you. Contact our office anytime with questions or to get started!