Buy or Lease a New Car in Florence, AL

It can be hard to decide between buying and leasing a vehicle because there is a lot of wrong information about both. There is no single best option for everyone. This is why it’s important to know the pros and cons of buying and leasing a vehicle to make a smart choice. 

Everyone has different reasons for acquiring a new car. You need to determine the factors most important to you. Do you require ownership of the vehicle? Do you intend to use and keep the car as an investment for the next five to 10 years? 

Maybe it’s more important for you to drive a brand-new vehicle every three years. Different things, like monthly payments, equity, mileage, and maintenance costs, can affect whether you should buy or lease.

When you purchase a new car, you are investing because the vehicle is now yours. You can do anything to it. You can customize it to suit your preferences. Moreover, you can sell it anytime you want. 

With leasing, you are essentially “borrowing” the car and paying for interest, fees, and any depreciation that occurs while it is in your ownership. You can return the vehicle or buy it for the residual value at the end of the lease.

You can ask the finance experts at Bentley Chevrolet for help deciding between buying and leasing. Regardless of your choice, we will assist you every step of the way.

Buying Vs. Leasing

You may benefit from the guide below if you’re unsure whether to buy or lease a vehicle. You can also explore your options by speaking to any of our in-house experts. Feel free to call or message Bentley Chevrolet if you need assistance. 

If the following statements apply to you, leasing a vehicle is the best option. 

• You typically drive less than 15,000 miles every year. 
• You don’t have strong emotional ties to your vehicle. 
• You’re willing to give up ownership in exchange for affordable payments.
• You like the smell of a brand-new vehicle. 
• You want to drive a vehicle out of your price range.

Buying a vehicle is the best option if the following statements apply to you.

• You log more than 15,000 miles every year. 
• Your favorite car modifications include tinting the windows, adding pinstripes, installing a better sound system, etc.
• You usually form a strong emotional bond with your vehicle. 
• You like to watch those payments disappear completely. 
• Your current vehicle is older than four years. 
• You prefer to perform your repairs. 

You must be aware of your options before choosing to buy or lease. Average annual mileage, time spent owning the vehicle, and resale value are a few variables that can affect your choice.

There are many things to consider when deciding between leasing and buying a car, but most people choose based on their monthly payments and how often they drive.

Most people who lease cars want to have a new car every two to three years. They like having lower monthly payments. Customers who finance their cars keep them for five to 10 years and value unlimited mileage. Some commercial clients may be eligible for additional tax benefits from leasing.

Buy or Lease at Bentley Chevrolet

Whether you buy or lease a vehicle, the finance experts at Bentley Chevrolet in Florence, AL, are always available to assist. We are happy to go through all the details of your car lease or loan, including the total loan amount and the annual interest rate. Call or message us today to schedule an appointment.