So, you’ve decided on what car you want, the color, and the packages to add-on. Now it is time to decide whether to lease or buy the vehicle. For some, the answer may come easy but to others, it can be quite the difficult choice. This week’s blog is dedicated to just that, how to decide on leasing or buying your next vehicle. Take a look below and let these tips guide you in the right direction!

Tip # 1: Think about how much you are willing to spend for a monthly payment and how much you can spend on a down payment. You should try to stay away from putting a down payment on a lease just to lower the payment. You may want to pay a little out of pocket upfront but use that to pay any fees that come with the lease option. Only if you are buying the vehicle should put a down payment on the vehicle.

Tip # 2: Your trade history can play a role. Think about how long you owned your last vehicle, chances are you will keep this vehicle for the same length of time. If you prefer to drive the newest models, choose a lease option. It will be cheaper and easier to lease then trading in your vehicle and going through the buying process every three years. But if you prefer to keep a vehicle for longer periods of time, typically five years or more, choose to buy the vehicle.

Tip # 3: How often and how far you drive plays a big role in whether you buy or lease a vehicle. You can end up paying big bucks if you go over your lease mileage. It is important to factor how many miles you drive a year and what kind of options a lease can come with. If you tend to take long road trips or drive more often than the average person, choose to buy the vehicle instead.

Tip # 4: Even if you’re still undecided, ask to see both payment totals with fees and charges. This can be a helpful way to see which option will be better for you financially.  Ask about terms, options, and your next vehicle purchase intentions. Whether you decide to spend a little more money on one option, it’s important to get what you want. If you are looking to save money, think to choose a vehicle that isn’t as new but has been well taken care of. You’ll more than likely have the option to pay less plus used cars tend to be cheaper to insure.

There are many options when it comes to leasing or buying, the most important thing is that you get what you want for the price you want. Stop by our showroom today and speak to a salesman about our options and how we can get you into the car of your dreams!