Lease Vs. Finance
BUY VS LEASE FROM DELILLO CHEVROLET IN HUNTINGTON BEACH
If you’re in the market for a new Chevrolet, you have two primary options available: purchasing or leasing. There are differences between buying and leasing that you should consider before making a final decision, and the answer you choose will largely come down to your wants and needs.
WHY BUY?
Buying a vehicle is particularly advantageous if you plan on staying with a vehicle for more than two to three years. Once you’ve paid off the balance, you own it free and clear. What’s more, because the final goal for a purchase is full ownership, you’re allowed to drive your vehicle as much as you want without any mileage restrictions and are free to modify and customize your vehicle to your liking.
When you buy, you’ll be expected to offer a down payment, and you’ll have higher monthly payments because you are paying for the full value of the vehicle. If you decide a few years into your financing agreement that you want to upgrade, you are free to trade in at DeLillo Chevrolet — where we’ll get your maximum value — or sell your vehicle.
WHY LEASE?
Leasing is a great choice if you don’t do a ton of driving, don’t want to settle with any one vehicle for too long, and want to have your maintenance needs covered. When you lease, you’re essentially paying for the use of the vehicle and its depreciation, so you’ll have lower monthly payments and are not obligated to make a large down payment.
If you lease a vehicle, you’ll likely have a maximum of 12,000 miles a year that you can drive as part of your contract. Anything over that and you’ll be stuck paying per additional mile, which can really add up. You also won’t be able to modify the vehicle per your lease agreement, and you’ll be obligated to pay for any additional wear and tear at the end of your lease term. When your lease is up, you’ll have the option to pay off the remaining balance and make the vehicle yours or trade in for an all-new Chevrolet.
Still not sure which option is best for you between buying and leasing? Stop into DeLillo Chevrolet and our finance team will help you check all the right boxes.