Leasing vs. Buying

“Should I Buy or Lease?” is a common question for any driver contemplating their next big vehicle purchase, and one that our experienced financing team at Tate Branch Carlsbad is more than prepared to answer!

Finding a vehicle to fit your driving needs is the easy part – what can be difficult for customers is comparing the pros and cons of buying vs. leasing to match your financial needs. Luckily for you, we’ve put together some information for your consideration before you come down to Tate Branch Carlsbad near Las Cruces to make a final decision. Learn about how car finance works and get a better deal!

Should I Buy or Lease?: Financing Processes

• Leasing Offers More Freedom: While this option locks you into a contract, you’re able to sell the vehicle at any time, provided the vehicle estimation is higher than what you owe. Refinancing for a lower rate is also an option in the long-term.
• Leasing is Easier and More Convenient: As long as you keep the vehicle in good shape while it’s in your possession, you can drive it back to our lease return center at the end of your term, and drive home in a new vehicle. And if you decide that your leased vehicle is a good fit for you, options may be available to buy out the original lease.

Should I Buy or Lease?: Short vs. Long-Term Costs

• Leasing: By default, choosing to lease will typically result in lower monthly payments. You’ll be spending less on taxes and down payments as well. However, if you start a new lease every few years, your payments won’t change much over the years.
• Buying: Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, especially if buying a used vehicle compared to leasing a new one. However, repair costs tend to climb as a vehicle gets older.

Should I Buy or Lease?: Mileage Concerns

• Leasing Comes With Restrictions: Drivers leasing their vehicles will have to stay within certain mileage restrictions, or risk paying a fee when their term comes to a close.
• Buying Comes with No Restrictions: Those financing for full ownership don’t have to worry about mileage restrictions or limits.

Find Out More About Your Leasing and Financing Options

Ready to explore more leasing and financing options? Check out new vehicle specials at Carlsbad and see how much you can save! Apply for financing options online, or contact us online to discuss more specials and deals today!