The Basic Difference of Leasing Versus Buying a Car

If you are shopping around for a car, you must be wondering what the best option between leasing and buying is. With so many different makes and models here at Kelley Sales & Service, it can be easy to get lost in the inventory and struggle to settle on the right choice for your budget. Fortunately, the pros and cons of each are relatively easy to break down.

Buying Pros:

  • You will own the car thereby having the freedom to use it as you see fit
  • You can sell the car at any point
  • You save money in the long run

Buying Cons:

  • Loan repayment is costly compared to leasing
  • The depreciation of the car’s value is one you handle
  • You will have to face trade in hassles

Leasing Pros:

  • Lower monthly payments
  • You can be driving a new car every few years
  • No trade-in challenges

Leasing Cons:

  • At the end of the lease, you do not own the car
  • The mileage is limited
  • You pay more in the long run

When the time is right to start considering whether a lease or financed loan is best for your needs and budget, then our finance experts will be ready to guide you in the right direction. Stop in and learn more with us at 74-80 Clinton Street!

Categories: Finance, News
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