Buying vs Leasing

When it comes to paying for your next vehicle, you have two main choices: buying and leasing. Which one makes the most sense for your vehicle largely depends on your budget, lifestyle, and financing preferences.

On this page, we at Feldman Chevrolet of Lansing will break down the differences between buying and leasing to help make the best choice for you. Shoppers near Lansing, East Lansing, and Grand Ledge should read ahead to learn more!

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Buying vs Leasing: The Biggest Difference

The biggest difference between buying and leasing is ownership. At the end of your payment plan with a loan, you will own the vehicle. With a lease, you’re essentially renting the vehicle for a predetermined length of time and then you’ll return the vehicle. However, there are benefits to both options, which you’ll learn more about below.

The Benefits of Buying Your Next Vehicle

If you’re interested in making a long-term investment, then your ideal payment option will be taking out a loan. Consider the many benefits that come with this option including:

Investment: Buying a vehicle means you will own it once the loan is fully paid off. This means that you’ll be able to do what you want with it including leveraging it for a trade-in down the road when it’s time for your next vehicle.

Selection: Buying a vehicle means having the pick of any vehicle that is for sale, new or used. Choose the newest model on the lot or a high-quality pre-owned vehicle that is no longer produced.

Customization: Since you’ll own the vehicle at the end of the day, you’ll be able to personalize it however you want. Customize it at the dealership by choosing the perfect trim or add accessories after the fact to make this model truly yours.

Why You Should Lease Your Next Vehicle

If you’re a first-time car shopper or a student that needs flexibility in their vehicle terms, then leasing is the way to go. While you won’t own the vehicle at the end of your agreement, there are plenty of other perks that come with leasing like:

Lower Payments: Many times, a down payment is not required for a lease, meaning you can get behind the wheel sooner. Plus, monthly payments are typically smaller with a lease when you compare them to those of a loan.

Term Flexibility: Leases are customizable especially when it comes to how long you need the vehicle. You can lease a vehicle for as little as two years if that’s what suits your circumstances the best.

Simplicity: Switching from your current vehicle to your next vehicle is easier than ever with end-of-lease options. Simply bring your vehicle back at the end of your lease and choose a new vehicle, or buy it out if you’ve fallen in love with it.

Still Have Questions about Buying & Leasing?

We at Feldman Chevrolet of Lansing are thrilled that you stopped by to learn more about your vehicle payment options with us. If you still have questions about buying and leasing, give us a call at our finance center.

Drivers near Lansing, East Lansing, and Grand Ledge can also stop by the dealership to get started on situating the financing for your next vehicle!