Buying V Leasing A New Car

 

Making the decision to get a new car is a big one, and how you choose to finance it is even bigger. The two options you have to finance a vehicle are buying and leasing, and there are certain benefits and drawbacks to each. What it comes down to is your individual lifestyle. At Shults Auto, we want to make it as easy as possible on you when choosing how to finance your vehicle, so check out this list and come see us. 

The Benefits and Drawbacks of Leasing a New Car
                                                                                                                                                                                            
               

Benefits of Leasing a Car

           
               

Drawbacks of Leasing a Car

           
  • Don't have to worry about selling it or trading in when you want a new car
  • Similar to renting the car, not building equity
  • More Recent technology & safety features
  • Mileage restrictions with fees for exceeding these restrictions
  • Typically under warranty throughout the lease
  • Can't make many changes to the vehicle
  • Based on percentage of the new car's price
  • More stringent credit score restrictions
  • Lower down payment


The Benefits and Drawbacks of Buying a New Car
                                                                                                                                                                    
               

Benefits of Buying a Car

           
               

Drawbacks of Buying a Car

           
  • Once your new car is paid off, you don't have to worry about monthly payments
  • Large down payment
  • Long term ownership with options to customize your car
  • Unpredictable resale value
  • No mileage restrictions
  • To get monthly payments that fit within your budget, you  may have a long loan period
  • Builds equity

When it comes to finance options, it can be confusing. What's best for one person, isn't always best for another, so let our experienced finance team at Shults Auto Group help you make the best decision to put you in the new car of your dreams without sacrificing budget. Just fill out the form below or come see us if you have any questions. We look forward to helping you get into the new car you've always wanted. 

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