Buying vs Leasing

Buying vs Leasing: The Difference

Buying or financing a car and leasing a car each offer unique benefits. Depending on a variety of factors, including the type of vehicle you want to drive, either option may suit you best. In the table below, you will find two key differences between the two:

Buying a car means paying for its value all at once, while financing one involves taking out an auto loan and paying it off in monthly installments over a set period. Leasing a car, on the other hand, is like renting it for a few years.

Benefits of Buying a Car

Owning a vehicle enables you to customize it however you want. For example, you can add a new stereo system, add LED lights to the interior, or put new covers on the front seats to make it truly feel like your home on wheels.

If you use a car loan to pay for the vehicle, you also won’t have to make any future payments once you’ve paid back the loan, making buying a car a wise fiscal decision. Along with that, you can drive it as many miles as you want or need to for your daily commute, weekend adventures, and everything in between.

In the future, you will also have the option to trade in the vehicle at a dealership or to sell the car yourself.

Benefits of Leasing a Car

Since car leases generally last between one to two years, leasing may be an appealing option if you want to enjoy the latest automotive technologies soon after they arrive on the market. Leases also include warranty coverage that lasts throughout the lease term, which can provide additional peace of mind.

In general, compared with financing the same model, leasing requires lower monthly payments and a lower down payment, making it an economical choice. This means you may be able to drive a higher trim level or a newer model year.

When the lease period comes to an end, you also won’t have to spend time or energy selling or trading in the vehicle. However, if you end up falling in love with your lease, you can choose to buy or finance it once your lease period ends.

Financing & Leasing Options

Whatever option you choose, our finance experts will be by your side, so you can secure a fair payment option for your next car, truck, or SUV. For extra convenience, you can use our payment calculator to compare monthly payments for your favorite models.

Buy or Lease Your Next Car, Truck, or SUV Today

When it comes to making decisions about your automotive journey around Franklin, Greenwood, and New Whiteland, Indiana, our team at Fletcher CDJR is here to help. We look forward to helping you find a vehicle you’ll enjoy driving for miles to come.

Now that you know a bit more about the many benefits of financing and leasing, you can take our Buying vs. Leasing quiz today!