• Car Key

    Buy or Lease? The Pros and Cons of Each

    It’s not at all uncommon for drivers to struggle with the lease vs. buy dilemma when looking for a new vehicle. After all, there are strong benefits to either option, as well as a couple of drawbacks. If you set out to find the perfect option, you’re likely to come up empty. Instead, use the pros and cons listed below to help yourself decide which is best for you.

The Pros and Cons of Leasing

    • PRO — Lower Payments: When you lease a vehicle, your payments only cover the amount the vehicle depreciates in value while it’s yours, so expect lower monthly payments.
    • PRO — More Convenient: Bumper-to-bumper warranties typically cover lease terms, so you won’t need to worry about paying more for maintenance.
    • PRO —Easy Upgrade: When your lease term ends, just visit the dealership to swap for a new vehicle, with no arduous sales process.
    • PRO — Top Features: Changing your vehicle every couple of years means you’ll never be too far behind the latest technology.
    • CON — Zero Investment: When you lease, your payments don’t build value.
    • CON — Restrictions: It’s common for lease terms to place restrictions on the number of miles you can drive each year.

 

The Pros and Cons of Buying

  • PRO — Vehicle Ownership: Yes, payments might be higher, but the car will be completely yours once they end.
  • PRO — Zero Restrictions: Exceeding your mileage limit can come with heavy fees when you lease. If you buy, you can drive from Cumberland to Kentucky, Rice Lake to Reno, or even Hayward to Honduras if it happens to take your fancy.
  • PRO — Flexibility: It can be hard to end your lease term early without facing fees. If you have a change in circumstances, you can sell a car that you have bought whenever you want to.
  • CON — More Responsibility: You’ll probably keep the car after its warranty has expired, making you eligible for potentially costly repair and maintenance costs.
  • CON — Behind the Curve: Keeping an older car you have bought means using less sophisticated features and missing newer powertrains, which tend to be more efficient.
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(715) 475-1473

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734 West Avenue • Rice Lake, WI 54868

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Don Johnson Motors
Don Johnson Motors
734 West Avenue
Rice Lake, WI, 54868 US
(715) 475-1473
https://www.donjohnsonmotors.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png
Don Johnson Motors 45.5080292, -91.7657192.