Buying Vs Leasing: Which One Is Right For You?

Smiling woman in the showroom enjoying luxury car

Smiling woman in the showroom enjoying luxury car

The choice between buying and leasing a vehicle can be a pretty tough call. Buying requires a higher monthly cost, but you own the car. Leasing has a lower monthly payment and allows you to drive the latest and newest models. However, you never stop paying for the vehicle and you are on a miles restriction. We have gathered some pros and cons of each to help you decide which option is best for your situation!

Pros and Cons of Leasing a Vehicle

  • Pros
    • You will be driving the car during its most trouble-free years
    • You will be able to drive the latest and newest model
    • Enjoy the latest technology with up-to-date safety features
    • At the end of the lease, you just drop off the car at the dealer
    • Service specials come with most leases
  • Cons
    • There are mile restrictions
    • You must keep the vehicle in prime condition
    • You have to pay a fee when returning the vehicle after the lease is up
    • If you decide that you don’t like the car or if you can’t afford the payments, it might cost you
    • If you lease one car after another, monthly payments go on forever

Pros and Cons of Buying a Vehicle

  • Pros
    • You own the vehicle
    • You have the freedom to drive as frequently and far as you want
    • You can get cash to pay for your next car
    • You have the ability to customize your car however you’d like
    • Financing is a simple and easy process
  • Cons
    • The manufacturer warranty will end
    • You have to pay sales tax
    • The future value of the car is unknown
    • You have to pay interest on the entire cost of the car when financing

Red McCombs Hyundai Northwest

The Red McCombs Hyundai Northwest finance department is focused on ensuring your experience with our dealership exceeds your highest expectations. Our friendly finance managers work with people from all over, including San Antonio, Boerne, and Floresville to ensure our customers get the right finance program at the most competitive rates. We strive to work with each customer to ensure their satisfaction!