Buying vs Leasing - Springfield, MO

 
There are many advantages to buying and leasing, depending on what kind of car and financing options you're looking for. We've put together a list of the pros and cons to give you a better idea about which financing option is right for you.

Buying a car outright is great for vehicle owners looking for a long term investment. Almost all car buyers nowadays finance their vehicles through a financial institution, which means they pay a large down payment. This can be anywhere from 5% to 30% of the car's initial value. Though initial and monthly costs are higher when buying, you get to keep the car after it is paid off. 

Leasing a car is essentially renting it from the dealer. Some drivers who lease pay a small down payment, and then pay the value of depreciation during the term of the lease contract. There are some additional fees, as well as mileage restrictions; however, monthly payments are considerably more affordable when you lease. The only disadvantage is that you can't keep the car when the lease is up. Nonetheless, some dealers will let you purchase the vehicle at the end of the lease if you prefer.

Which is right for you? People who want a long-term investment and who can afford larger monthly payments should consider buying. You should also have a few thousand dollars saved for a down payment. Leasing is for people who don't have as much cash or who are looking for more affordable monthly payments. Also, if you like the idea of switching your vehicle up every couple of years, leasing might be right for you.

Stop by our store for more information on buying and leasing.

Contact

Corwin FIAT of Springfield

1025 W. Sunshine St
Directions Springfield, MO 65807-2445

  • Studio: (866) 981-4780
  • Service: (866) 981-8441
  • Parts: (866) 981-8994

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