Since the 1980s when vehicle leasing took off in its popularity people have been asking if it is better to buy or lease a new vehicle. Pine Belt Chevrolet, Pine Belt Subaru and Pine Belt Chrysler-Jeep, premier car dealerships in NJ and Lakewood, NJ, would like to shed some light on the subject.
A Few Basics
From a financial standpoint, buying is the way to go if you can afford to make higher monthly payments, pay off the loan and continue to drive the vehicle for a few years. Leasing is attractive if you like to drive a new car every few years and need less month-to-month costs.
Leasing Pros and Cons
As already stated, leasing can be attractive. You have low monthly payments with a low or no down payment. You can drive a better car for less money. Repair costs are low because you are covered by the factory warranty. It’s easy to move onto a new car without any trade-in issues at the end of the lease. And, there is less sales tax with an automotive lease.
On the other side, for leasing there are some important considerations. You won’t own the vehicle when the lease is done. The number of miles you can put on a lease car is limited, but you can buy more. Contracts can be confusing. But the biggest problem with leasing is you can’t change vehicles in the middle of a lease if you go from being a bachelor to a new father, for example.
The Bottom Line
It really boils down to your priorities in life. Maybe you have to take clients around and you need a higher-end car than you would normally purchase. Maybe your family is growing and you need a larger vehicle than what you can afford. These are excellent reasons for leasing. Leasing a car at a lower payment can also make it possible for you to save money for when you are ready to put a down payment on a car, so don’t think you will have to lease forever. Unless you want to.
Whatever You Need
No matter what your needs are when buying or leasing a vehicle, Pine Belt Chevrolet, Pine Belt Subaru and Pine Belt Chrysler-Jeep, your first choice for Lakewood car dealers, can help. We have new vehicles for leasing and new, used and certified pre-owned vehicles for purchase. And, we can help you get financing on any of them. We’re here for you.
Pine Belt Chevrolet
88 Ocean Ave
Lakewood, NJ 08701