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Should I Buy or Lease a Car?

Signing Finance Documents for Car

 

Should I buy or lease a car? Many Lima and Toledo drivers wrestle with these questions, and the truth is that there’s no single right or wrong answer. Some might prefer the flexibility of the lease plan, while others enjoy the long-term savings of a loan. In this guide, we’ll walk you through the pros and cons of leasing vs. buying. Find out which suits your wants and needs the best, and start shopping at Exceptional Motorcar today!

 

 

Leasing vs. Buying: Benefits of Leasing

Leasing a car is the more flexible option between the two. Instead of buying the car outright, you rent the vehicle until your contract is over. That means you won’t have equity or ownership, but many Findlay drivers prefer that. Here are a few reasons why leasing might be the right option for you:

  • A lease contract usually lasts two or three years, so you’ll get plenty of opportunities to upgrade. Plus, your lease term is often the same length as the bumper-to-bumper warranty.
  • When you lease, you’re paying for the depreciation that occurs during the length of your contract. This means leasing is the more affordable option for many drivers, including those with bad credit.
  • Most drivers return their leases at the end of the term and pick their next vehicle. But, you can also choose a “lease buyout” to keep your vehicle for as long as you’d like instead.

Leasing vs. Buying: The Benefits of Financing

So, why should you consider buying a car instead of leasing? Leasing might be cheaper initially, but financing is an excellent long-term investment – especially for savvy shoppers who buy used! That’s because you gain equity as you pay off your monthly payments, and eventually, you’ll own the car completely. Here are a few reasons why you should consider financing a used car:

  • Financing gives you a lot more freedom. You can drive without mileage restrictions and customize your car to your liking.
  • Financing costs less over time. After the loan is paid in full, you won’t have monthly payments anymore.
  • If you decide to part ways with your car in the future, you can sell it to recoup some of your investment. You can even sell it or trade in for a different model at Exceptional Motorcar!

Explore Leasing vs. Buying with Exceptional Motorcar

So, should I buy or lease a car at Exceptional Motorcar? We’d be happy to help you weigh out the pros and cons to find your perfect choice. Contact us to learn more about leasing vs. buying, or stop by our dealership in Defiance. Our finance experts are ready to assist with whatever you need!

 

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