Should I Buy or Lease?

Ready to head home to Raleigh in a new Buick crossover or pre-owned GMC pickup? It’s time to decide whether buying or leasing is a better fit for your needs. “Should I buy or lease?” is one of the most common queries that we get from drivers at Hendrick Buick GMC Cary, so we’ve put together this guide on the benefits of lease vs. buying options at our dealership!

What Are the Advantages of Buying?

If work trips or other routine travel puts lots of miles on your odometer, buying is probably the more sensible choice. Leased vehicles are subject to mileage limits and upgrade restrictions that may not be a good fit for your needs. As you compare lease vs. buying options, consider that buying offers the following benefits:

  • No Mileage Restrictions – If you’re often driving beyond the Charlotte area in a leased vehicle, you may incur a fee for exceeding mileage limits. You can avoid this entirely by purchasing your vehicle outright or financing it to own.
  • Freedom to Upgrade – When you buy, you can customize your vehicle to your heart’s content! While you can upgrade leased vehicles with certain OEM accessories, they generally cannot be customized.
  • Sell Anytime – If you own your car, you’re free to sell when you want. Leased vehicles can’t be sold because they must be returned to the dealership, or purchased with a lease buyout at the end of the term.
  • Bad Credit Financing – In-house financing options make it easier to negotiate loan terms with your lender, even with bad credit.
  • Save Money Over Time – While financing costs more upfront, you can save money over time and build equity with every payment.
  • Trade Up – Save on your next vehicle purchase by trading in your current car.

What Are the Advantages of Leasing?

So, why do some Charlotte drivers choose to lease vs. buying their car? If you’re looking to save money in the short-term, leasing will cost you less upfront and will generally cost less each month with a lower monthly payment. Other advantages of include:

  • Lower Sales Tax – In most states, tax rates for leased vehicles are significantly lower than for financed vehicles.
  • Easy Trade-In – To trade in your leased vehicle, simply drop it off at your dealership at the end of the term. You’ll be headed home to Cary in about an hour!
  • Warranty Coverage – Like brand new financed vehicles, leased vehicles are covered by a factory warranty. Generally, your lease term will run the length of your warranty coverage, meaning service and maintenance will be covered at little or no cost to you throughout your time behind the wheel of your leased vehicle.
  • New Technology – Leasing a new vehicle every three years is a great option if you want to enjoy the latest performance and infotainment features.

Explore Auto Leasing vs. Buying Options in Cary

Need to know more about the pros and cons of leasing vs. buying? Our team of auto finance experts is standing by to help. Contact us today, and get the car-buying process started from home with an online financing application! Worried about bad credit? We offer credit assistance programs so you can get approved for a favorable rate, whether you finance or lease!

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