Buying vs. Leasing a Car – Compare and Contrast Auto Ownership Options
At Graff Buick GMC Cadillac in Mt. Pleasant, MI we know that making the decision to get a new vehicle is very important. Today, drivers have the option to purchase a new or used vehicle, or to lease a new vehicle; each option offering different advantages and disadvantages. Some drivers are unsure which option is best for them, and we understand that it can be easy to become confused throughout the process. Our team of helpful auto experts want is dedicated to making the buying and leasing process as simple as possible, so that you can enjoy taking home a new vehicle. We’ll help you make the right decision for you by informing you about everything you need to know about buying and leasing a vehicle!
Evaluating which vehicle ownership option best fits your lifestyle is the first big step in choosing to buy or lease your next vehicle. Our team of experts at Graff Buick GMC Cadillac Mt. Pleasant work to help educate you on all of your available options in order to help you make right choice to best fit your needs. Before you start moving toward a final decision with either option, we have a few things we would like you to consider:
- What type of vehicle are you interested in?
- What is your monthly budget?
- What are your driving habits?
- What is your daily commute?
- What are the potential vehicle maintenance costs?
Not only should you ask yourself these questions, but you should also explore the advantages and disadvantages of buying or leasing a vehicle. Below, we’ve created a guide to buying vs. leasing a vehicle to help you make comparisons between buying and leasing. While you read each option, keep in mind how they will fit into your current lifestyle and future needs. Our experienced team at Graff Buick GMC Cadillac knows that each person and situation is unique, which is why each person’s buying or leasing experience is also unique. To dive deeper into the complete buying and leasing processes, visit our How to Buy and How to Lease pages on the left hand side of this page! For additional questions, please don’t hesitate to call our friendly team at (989) 773-3917.
- You drive only 1 vehicle for 60+ months
- No limit on number of miles driven
- You can trade-in or sell your vehicle anytime
- Monthly payments vary depending on down payment
- Maintenance must be covered by owner or warranty
- Pay for the full cost of the vehicle
- Buying builds buyer’s equity
- You can drive up to 2.5 vehicles over 60 months
- Specific mileage allowance per year
- Minimal maintenance required
- Monthly payments vary depending on down payment
- Lease periods range from 24-72 months
- Lease price is based on percentage of vehicle cost & length of lease
- Ability to customize or modify vehicle
- No monthly car payments once the loan is paid off
- You own the vehicle after the loan is paid off. Potentially more cost effective in the long run.
- No mileage restrictions
- You can drive a new car every 2 years
- Lower up-front costs
- Potential for lower monthly payments
- You’ll always have the latest, updated vehicle
- Maintenance costs may be included in lease
- Down payment may be more expensive
- Maintenance costs are your responsibility
- Vehicle value depreciates quickly
- Monthly payments are typically higher
- Potential hassle to sell the vehicle later on
- You don’t own the vehicle
- You’re responsible for damages, wear and tear
- Early lease termination can be expensive
- Restriction on miles you can put on the car
Contact Graff Mt. Pleasant for Buying and Leasing Information and Questions
Once you are confident in which ownership option is best for you, visit our How to Buy and How to Lease pages on the left hand side of this page to learn more about each. These pages are specifically designed to give you a more detailed look into the buying and leasing processes. If you are ready to start looking for a vehicle you can visit our Inventory page for the most up to date listing of our stock of Buick, GMC, and Cadillac models. Or, if you are looking for something more specific, you can contact one of our team members on our Find Me A Vehicle page and they will work to find the exact vehicle you’re looking for.
Making the decision to buy or lease a new vehicle takes a lot of thought, and we understand that you want to make the right choice that fits your lifestyle and budget. At Graff Buick GMC Cadillac in Mt. Pleasant, MI our goal is to make buying or leasing a vehicle easy for you. Our team of experts can provide you with answers to all of your buying and leasing questions. So, when you start looking for that new car, truck, SUV, or crossover, we are here to help! Stop by and see us at 116 N. Mission in Mt. Pleasant, MI. We proudly serve the Mt. Pleasant area including Midland, Big Rapids, St. Louis, Alma and Clare. If you have questions about buying or leasing a vehicle contact our staff at (989) 773-3917 today!