Should I Buy or Lease?

After finding the right model for you and your Houston driving needs, you’ll come across a choice between buying or leasing your next vehicle. So should you buy or lease? This will depend on a few factors. Learn more about buying and leasing with our finance team at Big Star Buick GMC in Baytown today.

Leasing vs. Buying: Long and Short-Term Costs

• Leasing offers lower monthly payments off the bat, all other things being equal. You’ll also spend less on taxes and down payments. However, if you start a new lease every few years, your payments won’t change much over the years. However, you won’t have to worry about escalating service or repair costs.
• Financing gives you a chance to eliminate your monthly payment entirely, and buying used is often more affordable than leasing new. Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, but repair costs tend to grow as a vehicle ages.

Leasing vs. Buying: Mileage & Restrictions

• Those who finance with the intent to pursue full ownership will not have to worry about mileage limits or restrictions.
• Those who lease their vehicles will have to stay within certain strict boundaries, or pay a fee when their lease term comes to a close.

In short, if you tend to drive shorter distances, then a lease will be a good option. Tend to take longer road trips out of Crosby? Buying will be the route you’ll want to take as you won’t have any mileage restrictions.

Leasing vs. Buying: Total Ownership and Customization

• When you buy a vehicle (or finance its full cost), you can add whatever accessories catch your eye. You can also modify the vehicle more extensively with custom parts or upgrades if you choose, although doing so may void your warranty.
• When you lease, you’ll need to keep the vehicle as close to factory condition as possible. That’s because the dealership still owns the vehicle and they’ll need to resell it after it leaves your hands.

While off-roading isn’t super popular in Channelview, you can customize your vehicle to do so with a purchased vehicle. If you lease a model, you won’t be able to add on things that will enhance your daily drives.

Leasing vs. Buying: Freedom, Options, & Processes

• Financing offers flexibility. You’re locked into a contract, but you can sell or trade in the vehicle at any time (provided that the vehicle is worth more than you owe). You may also be able to refinance for a lower rate down the line. And of course, the vehicle is yours to keep for as long as you like.
• Leasing is easy and convenient. Just take good care of the vehicle while it’s in your possession, drive it back to our lease return center at the end of your term, and drive home in a new vehicle. You might also have the option to buy out the lease and bring your leased vehicle home for good.

Explore Leasing and Financing Options at Big Star Buick GMC

When the time comes to buy or lease your next model, contact our team. We can help you get the application process started online with our pre-approval application as well as help you find the right model.