Wondering rather to lease or buy a vehicle?
The best place to start when considering the options is thinking about how you will use the vehicle and how long you plan to keep it. A lease is not the same as renting a car. Lease and purchase loans are two ways of financing an automobile.
When you buy an automobile, you pay for the whole vehicle. You will usually make a down payment and pay sales tax in cash or roll both into the amount of your auto loan, paying interest on the balance for the specified term of the loan. If you anticipate keeping your automobile for a longer period than typical lease periods and expect to drive more than an average of 15,000 miles a year, buying might be your better option.
If you choose to lease a vehicle, you finance only a portion of the vehicle cost - the part you use. Leasing is often a good choice for someone who prefers to have a new car every two to three years with no major repair risks.
The best choice is the one that best fits your needs. Our trained finance staff is available to give your more information about leasing or financing so you can make decide rather to lease or buy.