Should I Buy or Lease a Car?

Lease Agreement
 

There’s no shortage of brand new Chevrolet for sale at Larry Puckett Chevrolet in Prattville. However, financing a new car, truck, or SUV outright might not be the wisest investment for every Montgomery shopper. Nevertheless, you should be able to access all the perks and thrills that a current-year Chevrolet provides. Fortunately, shoppers throughout the greater Wetumpka area have the option to lease a new Chevrolet instead. 

So, should you buy or lease a car? Our finance specialists have broken down the major pros and cons of both payment plans. Explore the costs and benefits of buying vs. leasing with the experts below!

Should You Lease or Buy a New-to-You Chevrolet?

Are you actively weighing the pros and cons of leasing vs. buying? As previously stated, there are unique advantages and disadvantages to buying or leasing a new vehicle. Three of the biggest factors to take into account when approaching the topic of vehicle ownership are: 

Leasing vs. Buying: Limitations

  • Leasing Involves Boundaries: Leased vehicles must stay within certain strict mileage and wear and tear limits. If you violate these restrictions, you’ll be subject to a fee upon the end of your lease.
  • Finance and Enjoy No Limits: If you purchase your Chevrolet model, you have full ownership. Drive as far as you’d like around Millbrook and put as many miles on the odometer as you’re comfortable with. You will not have to worry about mileage limits or restrictions.

Leasing vs. Buying: Customization and Ownership

  • Leasing is a Stricter Experience: You’ll have to keep the vehicle as close to factory condition as possible. The dealership still technically owns the vehicle and needs a model that’s in good shape and that they can still resell once your lease expires.
  • Buying or financing a Vehicle Gives You Greater Freedom: Feel free to add whatever upgrades catch your eye. You can also modify the vehicle more extensively with custom parts or performance upgrades if you choose, however, do so at your own risk. Certain customizations may void your warranty.

Leasing vs. Buying: Payment Flexibility

  • Leasing is Simple, As Long as You Properly Maintain Your Car: Just take good care of the vehicle while it’s in your possession, drive it back to our lease return center at the end of your term, and drive back to your Millbrook home in a new vehicle. You might also have the option to buy out the lease and bring your leased vehicle home for good.
  • Financing Offers Versatility: You’re locked into a contract, but you can sell or trade in the vehicle at any time (provided you have positive equity). You may also be able to refinance for a lower rate down the line. And of course, the vehicle is yours to keep for as long as you like.

Lease or Buy a New Chevy Vehicle at Larry Puckett Chevrolet

There are a wide variety of benefits that come with either purchasing or leasing a new Chevy car, truck, or SUV. So, if you’re ready to get your vehicle financing experience started right away, you can fill out our remote auto loan application from the comfort of your home. Otherwise, you can reach out to us at Larry Puckett Chevrolet to begin setting up your preferred lease deal.

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