Is it Better to Lease or Buy a Car?

Is it better to lease or buy a car? We are asked this question quite often, but there is not a one-size-fits-all answer. What may be best for one Concord driver may not be the right choice for another. That is why we’re here to compare leasing vs. buying a car. We’d love to help you determine which is the best choice for your driving needs and budget around Manchester. 

Leasing vs. Buying a Car

Is it better to lease or buy a car? It depends on your driving habits and if you plan to customize your vehicle for the roads of Tilton. Compare the pros and cons of leasing vs. buying a car below. 

Pros and Cons of Leasing a Car

Pros:

• Lower Monthly Payments: Leasing typically comes with a lower monthly payment, as you are essentially paying to “rent” the car for a set amount of time. 
• Worry-Free Maintenance: Vehicles are typically covered by warranty for the duration of the lease. 
• No Worries About Resale: You do not have to worry about selling the car when it no longer suits your needs. 
• Get a New Car Every Few Years: You can drive a vehicle with the latest technology every couple of years. 

Cons: 

• Mileage Requirements: You must stick to a set mileage limit or be hit with penalties. 
• Constant Monthly Payments: If you are always leasing a vehicle, you will always have a car payment. 

Pros and Cons of Buying a Car

Pros:

• Ownership: After you have made all of your payments, the car is yours. 
• Customize Your Vehicles: Upgrade your vehicle any way you want. Add accessories, put in a new stereo, or change the color! 
• No Restrictions: You do not have to adhere to set mileage limits. 

Cons:

• Higher Monthly Payments: Monthly payments tend to be higher when you finance. 
• Rapid Depreciation: New cars depreciate rapidly. 
• Larger Down Payment: If you’re trying to get approved for a loan, you’ll have to consider making a larger down payment. 

Find Your Next Ride with Grappone Automotive Group

Now that you have compared leasing vs. buying a car, are you ready to start shopping? At Grappone Automotive Group, we have a wide array of vehicles to suit any driver. Visit us today, or contact us if you have any questions. You can even get pre-approved for financing before your visit.

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