Should I Buy or Lease a Vehicle?

There are plenty of options for choosing new vehicles for your Griffin commutes. This, however, may leave you wondering, “should I buy or lease a car?” We understand the appeal of both, and it depends on your needs and driving habits. Our team at Volume Chevrolet has details regarding the specific information you need to lease or purchase a vehicle in the McDonough area. Find the option that is better for you with this guide on leasing vs. buying, below!

Costs of Leasing vs. Buying

• When you lease, you can enjoy lower monthly paymentsfrom the start. You’ll also spend less on taxes and down payments. If you start a new lease every few years, however, your payments won’t change much over the years. You also won’t have to worry about escalating service or repair costs.
• When you buy a car, financing gives you the chance to complete monthly payment entirely and a used car purchase can be more affordable than leasing new. Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, but repair costs tend to grow as a vehicle ages.

The Bottom Line: If you are a Forsyth driver that keeps their vehicles for three years on average, leasing will be the preferable option. If you’re set on full ownership, our finance team can help you explore your options. 

Leasing vs. Buying: Mileage & Restrictions

• If you choose to finance a car you bought with the intention for full ownership you don’t have to worry about mileage limits or restrictions.
• Leasing a vehicle requires certain strict boundaries or you will have to pay a fee when their lease term comes to a close. 

The Bottom Line: If you only drive a short distance regularly, you will find that the vast majority of leases are suitable for your needs, but those who love their weekend trips and road trips beyond Forsyth will likely find financing to be a better fit.

Leasing vs. Buying: Total Ownership & Customization

• A financed or owned vehicle is yours, so you can add a variety of accessories whether for function or style. You can also get custom parts or upgrades if you choose to modify your vehicle.
• When you lease, you’ll need to keep the vehicle as close to factory condition as possible, because the dealership still owns the vehicle and they’ll need to resell it after it leaves your hands. 

The Bottom Line: Off-roading isn’t particularly popular with Chevrolet drivers, but many are interested in performance driving and vehicle customization. If that sounds like you, leasing will prevent the customization you hope for.

Leasing vs. Buying: Freedom, Options, & Processes

• Financing offers flexibility. Even though you are locked into a contract, you can sell or trade in your vehicle at any time. You may also be eligible for refinancing to achieve a lower rate down the line. And ultimately, the vehicle is yours to keep for as long as you like.
• Leasing is easy and convenient. If you know you can take good care of a vehicle, and drive it back to our lease return center at the end of your term. You might also have the option to buy out the lease and bring your leased vehicle home for good.

The Bottom Line: Leasing is beneficial for many drivers due to its simplicity, however, if you’re comfortable maintaining and reselling a vehicle, the money you get for trading in a purchased vehicle can offset future costs. 

Will You Choose Leasing vs. Buying with Volume Chevrolet?

When it comes time to get your next vehicle in the Forsyth-area, you can explore our latest specials, then contact us online or call us at (770) 450-0953 to get started with your car buying or leasing process!