Advantages of Buying
- Ownership of vehicle
- Equity toward new model
- No mileage restrictions
- Can modify the vehicle
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Disadvantages of Buying
- Vehicle Depreciates in Value
- Sizeable Down Payment
- Longer Loan Terms
- Higher Loan Payments
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Advantages of Leasing
- Lower monthly payments
- Future value doesn't financially affect driver
- Leasing term covered under warranty
- Can return vehicle and walk away
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Disadvantages of Leasing
- Restrictions on mileage
- No equity gain
- Good credit score required
- Exceeding normal wear and tear unacceptable
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Should I Buy or Lease a Car?
Serving Clearwater, St. Petersburg, Largo, and Tampa FL
At Crown Acura, we are devoted to servicing our customers with the best possible options for their car investment needs. Regardless of your decision to buy or lease, we will leave you feeling content with the outcome. We are here to help you figure out which selection best suits you, and we are confident that you will have a better understanding of car buying versus car leasing upon departure. We recognize that you deserve the very best.
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Benefits of Buying
Car buying might be the best option if you plan on driving quite a bit. You can travel without fear of surpassing the mileage allotted to you when you lease. When you buy, you either own the vehicle outright, or you own it immediately after paying off the loan. You have many years to appreciate the vehicle when you buy, provided you maintain the service requirements necessary to keep it in working condition. You also gain equity with the purchase of your vehicle, so you are able to trade it in for an upgrade or for resale when you are ready to. Buying a car means you can alter and customize your vehicle to express your personality.
Benefits of Leasing
If you are thinking of leasing, consider whether or not your daily commute significantly raises your vehicle?s mileage. If not, leasing might be a great option for you. When you lease, you can drive the vehicle with lower monthly payments than when you buy, and you can return the vehicle at the end of the leasing term and simply walk away. You don?t have to worry about finding a buyer when you are ready for a newer car, and you will drive the borrowed car under warranty the entire time. As the value of the leased vehicle depreciates, it will not affect you financially- You pay for the value of the car during your lease, no matter how much it decreases.
