Should I Buy or Lease?

car salesman assisting woman in vehicle

If you’re in the market for a new vehicle, one decision you need to make is if you should buy or lease. Choosing the right financing option really comes down to your driving needs and budget. If you need help deciding, or simply want to learn more about buying vs. leasing, check out our helpful guide at Rohrich Cadillac. Our finance team is here to help you find the right model for the right price.

Benefits of Buying

  • No Limits on Mileage: One of the main benefits of financing is that you don’t have to worry about mileage limits. You are free to drive as much as you want, and you don’t have to be concerned about charges for excess wear and tear.
  • Total Ownership and the Ability to Customize: Buying a vehicle means it’s yours completely. If you want to modify the vehicle in any way, you are free to do so. Financing gives you the opportunity to create the vehicle of your dreams.
  • Ability to Sell: Since you’re not locked into a lease agreement, you are able to sell your vehicle any time you want.
  • Financing Options: The process of financing is simple and straightforward.
  • Less Cost Over Time: While it may be more expensive to finance a vehicle initially, the total cost of ownership decreases the longer you own the vehicle.

Benefits of Leasing

  • Lower Payments: When you lease, you can enjoy a lower down payment and lower monthly payments.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, it is possible that you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Trade-Ins: When it is time for something new, you do not have to worry about the hassle of trying to sell your vehicle. Simply bring it back to the dealership, wrap up the terms and conditions of the lease, and select a new vehicle.
  • Warranty Coverage: As long as you do not go over the mileage limits set in your lease, your vehicle should be protected by a warranty for the complete duration of the lease.
  • Up-to-Date Vehicles: If you like the idea of driving a new car with the latest bells and whistles every couple of years, leasing makes it easy to do so.

Learn More About Your Options at Rohrich Cadillac

Need more financing tips and tricks? We have plenty to offer. If you’re done comparing lease vs. buying and are ready to get behind the wheel, apply for financing online! We’ll help you get the process started on your favorite model today! Have questions, like “What does MSRP mean?” or “What is good mileage for a used car?” Contact our team!

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