Leasing vs. Buying a New Vehicle
When it comes to finding a new vehicle in North Manchester, you have two options: leasing or buying. Unsure which of these options is best for you? Learn more about the benefits to both leasing and buying with Shepherd's Chevrolet Incorporated, and then reach out to our finance team if you want additional information.
What are the Benefits of Leasing?
- Warranty Coverage: Leased vehicles come with warranty coverage that keeps you covered during the length of your lease.
- Cost of Ownership: Lease costs are set, and warranty coverage protects you against any unforeseen costs.
- Lower Payments: Leasing offers lower monthly payments, as well as lower down payments and sales taxes.
- No Worries of Depreciation: When you buy a vehicle, it can depreciate, decreasing the value of your vehicle. When you lease, you’re only renting the vehicle from the dealership, making depreciation less of a concern.
- Easy Lease End Options: At the end of your lease, you can easily upgrade your lease, return your lease, or even make a lease buyout.
- Vehicle Personalization: While some places may limit your ability to upgrade a leased vehicle with aftermarket parts, you can personalize your lease with Shepherd's Chevrolet Incorporated!
What are the Benefits of Buying?
- No Mileage Limits: Leasing a vehicle often comes with mileage limits. If you take frequent road trips or drive a lot for work, then buying a vehicle may be a better bet.
- Freedom of Ownership: When you buy, you’re able to sell, trade-in, or alter your vehicle at any point.
- Decreased Costs Over Time: While leasing helps avoid the surprise costs of repairs, they do require a continued monthly payment. When you pay off a vehicle you’ve purchased, you can avoid monthly payments for a while. Just know that as the vehicle ages, you may also need to make more expensive repairs.
Shop for Your Next Purchase or Lease at Shepherd's Chevrolet Incorporated
Are you ready to drive home a new lease or buy your next Chevrolet? Start by valuing your trade with Shepherd's Chevrolet Incorporated. You can then use your vehicle’s value to help decrease your new monthly lease of finance payments. Contact us with questions and to start shopping for your new vehicle today!
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