When it comes time to invest in a vehicle, one of the biggest decisions is whether to buy or lease. We're here to help drivers in Arlington TX and beyond understand the key differences between leasing or buying so you can choose the best option for your needs and budget.
The Key Differences Between Leasing and Financing
Ownership: The biggest difference between leasing and buying is ownership. With a lease, you don't own the car - you turn it in at the end of the lease. With financing, you own the vehicle once your loan is paid off and can use it however you please.
Monthly Payments: Lease payments are generally lower than loan payments because you're only paying for the vehicle's depreciation during the lease term rather than the entire vehicle cost.
Mileage Restrictions: Lease deals come with annual mileage limits, usually 10,000-15,000 miles. If you exceed those mileage limits, you'll pay a fee per extra mile driven at the end of the lease. With financing, there are no mileage restrictions since you own the vehicle.
Should You Lease or Buy Your Next Car?
The decision to lease or buy depends on your priorities. If you want lower monthly payments and the ability to drive a new car every few years, leasing may be the better choice. If you want to own your vehicle long-term and don't mind higher monthly payments, financing is likely the right option. Consider your budget, driving habits, and future plans when deciding whether to lease or finance your next vehicle.
Contact Our Dealership Today to Learn More
Still have questions about buying and leasing? Contact Principle Volkswagen Grapevine today. Our friendly team is here to help you explore your leasing and financing options to find the perfect new Volkswagen.