Buying vs Leasing a Car in Littleton, CO
Buying vs. Leasing a car… the big debate.
Given that…
Most people are familiar with the buying process of getting a car.
Let’s take a quick look at the leasing process so you know how it works and if it might be best for you.
For instance…
Leasing a car is like renting it for 24 or 36 months.
One of the most significant benefits of leasing is that you can usually get more car for your money.
And you get to drive a new car with the latest technology and usually for less money than buying.
Yippee…
Now let’s compare buying vs. leasing a car and see which way is best for you.
So it all adds up to this…
Your options to get a vehicle is to either buy a car or lease one.
You either buy a car or lease one.
That’s it in a nutshell…
We Lease and Sell all Makes and Models
Most importantly.
Keep in mind…
If You’re Buying or Leasing a Car, There Isn’t One Option Better or Worse Than the Other!
Buying or leasing both have pros and cons.
Here are the factors for choosing your next vehicle.
Buying
- You usually have a down payment to pay when you finance your car.
- You can buy a car even with a low credit score.
- You own the vehicle once you pay it off.
- Purchase the vehicle outright or finance it. You pay all the taxes, insurance, and lender fees. Plus, you pay any prior vehicle loan.
- You build equity with every payment you make on your car, truck, or SUV. You can use your equity towards the purchase of another vehicle.
- No mileage restrictions. You’re free to drive the vehicle the way you want to.
- It’s your vehicle, and you can accessorize it to your taste and likes.
- Gap insurance isn’t required when financing a vehicle. Yet having coverage is still a good idea.
- You don’t pay for wear and tear up front. But at the end of the lease the value of your vehicle will decrease and you’ll be financially responsible for the wear and tear at that time.
- You make that last car payment; finally, that’s the day you own it. Then you can decide to sell, keep, or trade it in.
- You can sell your car or trade it in when ever you want to.
Leasing
- You don’t need to put down a lot of money.
- A higher credit score is required.
- The dealer owns the vehicle… you don’t own it. You don’t build any equity when you lease.
- With a lease, you pay the ‘Financed Amount’ in a loan. Plus, insurance, deposits, and the first month’s payment. Any prior dues from a lease.
- Your payment is typically lower because you’re only paying for the vehicle depreciation.
- There are pre-determined miles that you’re limited to yearly. There are fees if you go over the set amount of miles. It is possible to negotiate higher mileage limits at the start of the lease.
- The lessee handles maintaining the vehicle during the lease period. You are responsibe for any wear and tear upon return of the car.
- Gap Insurance steps in when you face a total loss, like theft or an accident, and covers the gap between your vehicle’s value and the amount you still owe on your finance.
- At the end of the lease you can: 1) Return your vehicle and get a new lease vehicle. 2) You can walk away from it. 3) If you like the car you can buy it.
Buying or Leasing Your Next Car? The Choice Is Yours…
Whether you’re buying or leasing your next car, you have a lot of choices to consider.
I can’t stress this enough…
The vehicles that maintain their value are the best ones to lease.
We know what vehicles work best for leasing.
Contact us today, and we can review these vehicles to see what’s in your best interest.
FAQ: Our Customers Want to Know…
What are 5 disadvantages of leasing a car?
Here are the disadvantages:
- You have no ownership or equity in the vehicle. When the lease is up, you have nothing.
- At the end of the lease, anything deemed excessive wear and tear may require repairs and fees on your part. However, for everyday wear and use, there is no charge.
- If you put more miles on the vehicle than allotted, you are charged for the mileage over and above your limit.
- Leasing a vehicle can be more complicated than buying one.
- Lack of control. You can’t trade the car in or sell it. You also can’t customize the car to your liking.
Is it better to lease or buy a car in 2023?
Experts are predicting that leasing will grow in 2023. Incentives from auto makers plus consumer affordability, are expected to help drive the leasing growth.
Vehicle inventory is improving overall and demand has stabilized.
Prices on new vehicles could drop up to 5% in 2023, according to a report from J.P. Morgan.
Everyone’s situation is different. For some buying a car may be better this year, and for others leasing may be the answer for them.
The best thing to do is contact us and let’s look at all the different leasing programs and find out what fits your situation the best.
Now You Have the Answer to Buying vs Leasing a Car in Littleton, CO
Leasing a car allows you to drive a new vehicle with lower monthly payments.
So what’s the secret about buying or leasing a car?
By now, you’ll have realized…
That there isn’t one answer that works for everyone.
Everyone’s situation is unique to them.
That’s why we custom tailor every lease or purchase to your needs, desires, lifestyle, and budget.
I’m sure you’re going to love this…
We’re here to make leasing or purchasing easy and stress-free for you. Our helpful and dependable team of auto brokers is at your service.
Contact us at 303-761-8045.
Or contact us by email, and we’ll be happy to answer your questions.
P.S. Buckle your seatbelt because when you contact us…
We’re going on a car-buying or leasing adventure that is stress-free, effortless, and professional.
Trust me…
You’ll be glad you called.