Buy vs Lease

Lease vs. Buying a Car
When it comes to buying a new car, the first thing you should be thinking about is whether you are going to lease a vehicle or buy one. Depending on your circumstances, there are advantages to both leasing and buying, but there are also disadvantages. We've put together this article to help you decide whether buying or leasing is the best option for you.

Leasing a Car
Leasing a car is pretty much a long-term rental agreement on a car. When you take out the lease you agree on a monthly price for a fixed length of time so that you get exclusive use of the car until the end of your lease.

Advantages of Leasing a Car
When driving a leased car, you don't have to worry about things like the expiration of the warranty. Most leased vehicles are covered by the manufacturer's warranty which means that you won't be getting any costly repair bills for faults on a leased vehicle. Most warranties are comprehensive, but it is always a good idea to check the warranty and what it covers before you take out any lease.

Leasing a car can be a less expensive alternative to buying a car if you are looking at getting a luxury or premium vehicle.

You also have the added bonus that at the end of the lease you can simply hand back the car - no worrying about selling the car on or trading it in. As long as the car is in the agreed upon condition and within the set mileage, you had over the keys and walk away.

Disadvantages of Leasing a Car
The biggest disadvantage of leasing a car is the limit on the mileage. If you are going to be driving around in the car a lot and know that the mileage offered is too limited, then you might want to think about buying a car instead. There is a mileage charge due at the end of the lease. The charge is for every mile over the agreed upon mileage limit.

Another drawback to leasing the car is that you never actually own the vehicle and all the money you pay for the lease leaves you with nothing to show for it at the end of it.

Advantages of Buying a Car

The first advantage to buying a car instead of leasing it is that you own it. That means that as long as you keep up with the finance payments, you keep the vehicle. This also means that you can make whatever modifications that you like to the vehicle and don't have to worry about giving the car back.

You don't have a limit on the mileage on your car either, so you can drive as much or as little as you please. You can also sell the vehicle whenever you want to, that means if your circumstances change then you can change your vehicle more easily than if you were leasing a vehicle.

Disadvantages of Buying a Car
Once the warranty on your car has expired, all the cost of any repairs fall squarely on your shoulders and they can become very expensive depending on what faults your car develops as well as the make and model.


Gezon Nissan

3985 Plainfield Ave NE
Directions Grand Rapids, MI 49525

  • Sales: (616) 361-7361
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