Should I Buy or Lease?

Once you’ve chosen the new Buick, Chevrolet, GMC vehicle that’s best suited for handling your Omaha drives, it’s time to decide whether leasing or buying is the best financial option for you. Learn the difference between leasing vs. financing with this guide from the financial experts at Edwards Chevrolet Buick GMC. Our team is standing by if you have any questions. Be sure to take advantage of our lease and finance offers. 

Leasing vs. Buying: What Are the Long and Short-Term Costs?

• Leasing providers drivers with lower monthly payments right off the bat. You’ll also spend less money on taxes and down payments. However, if you start a new lease every few years, the monthly payments won’t change much over the years, and there’s no worrying about escalating service or repair costs.
• Financing allows you to eliminate your monthly payment, and purchasing a used vehicle is typically more affordable than leasing a new one. If you pay off your financed vehicle, you’ll spend less money than a driver who continues leasing. However, the repair costs tend to row as the vehicle ages. 

The Bottom Line: since a lot of drivers prefer to keep their vehicles for about three years, and have the latest features to enhance their drivers, leasing could be the better option for you. If you would prefer full ownership, reach out to our finance team to explore your options. 

Leasing vs. Buying: What Are the Mileage & Restrictions?

• Those who finance with the intent to pursue full ownership will have to think about mileage limits or restrictions.
• Those who lease their vehicles must stay within certain strict boundaries, or pay a fee when their lease term ends. 

The Bottom Line: If you work from home or have a short commute, leasing could be more suitable for your needs. If you enjoy weekend adventures and road trips, financing may be a better fit.

Leasing vs. Buying: Total Ownership and Customization

• When you finance, you can further enhance your vehicle through genuine OEM parts and accessories. You can also add custom parts or upgrade if you choose, but this could void the warranty. 
• When you lease, you have to keep the car as close to factory condition as possible. This is because the dealership still owns it and they’ll need to resell it after you return it.

The Bottom Line: If you enjoy high-performance driving and further customizing your ride, financing may be the option for you.

Leasing vs. Buying: Freedom, Options, & Processes

• Financing offers flexibility. Even though you’re locked into a contract, you can either trade in your car or sell it at any time, as long as the vehicle is worth more than you owe. You can also refinance for a lower rate down the line, and keep it for as long as you like.
• Leasing is straightforward. Take great care of the vehicle while you’re leasing it, bring it back to our lease return center when your lease term ends, and drive home to the Bellevue area in a new vehicle with the latest technology features. 

The Bottom Line: The simplicity of leasing is enticing for many Papillion drivers. However, if you prefer to maintain and resel your vehicle. The trade-in money could have offset any future costs. a major draw for drivers in Omaha and Bellevue. 

Compare Leasing vs. Financing Further at Edwards Chevrolet Buick GMC

When you’re ready to move forward, apply for financing right at home in minutes. Contact us if you have any questions or would like to schedule an appointment.