Buying vs. Leasing Guide

Buying vs. Leasing

Considerations Buying Leasing
Cash Due At Signing When you buy a car you'll most likely have to put more cash down at signing. Expect to pay taxes and registrations fees, as well as a down payment on your car loan. This typically means that buying a car results in higher up front costs. You should expect to pay your first month's payment, registration, a refundable security deposit, as well as taxes and other fees. While this sounds hefty, leasing a car requires less cash up front.
Vehicle Personalization As long as you keep up with your monthly payments you have full ownership of your vehicle. From custom exhaust to window tint, you may do anything you like to it. You will not want to personalize your car in any way that's irreversible. You will have to return the car as close as possible to the shape that you got it in.
Monthly Car Payments Unless you put a lot of cash down up front, loan payments will be larger and have a longer term than a lease. Terms typically range between 3 and 5 years. Auto lease payments are normally less than auto loan payments because you are mainly paying for the depreciation of the vehicle as well as some leasing fees. Lease terms can be significantly shorter, starting at 1 year.
Upgrading Vehicles To upgrade your vehicle you will have to sell it yourself or trade-in your vehicle at the dealership. Upgrading is much easier with a lease. At the end of your lease you simply return your vehicle and sign a new lease on a new vehicle that grabs your attention.
End of Term After your loan payments are up and the vehicle is yours. You get to drive your car with no payments on it. Insurance and state registration fees will continue however. When your lease term ends you have two options. You can either buy your vehicle at current market value or return it and begin a new lease or loan.
Ownership The vehicle is yours. The vehicle is leased to you by the dealership. So while it is in your possession, the dealership still owns it.

Disclaimer:
We attempt to update our website in a timely manner however neither Buying nor the dealer can guarantee that the inventory shown will be available at the dealership. We cannot be responsible for typographical and other errors, including data transmissions or software errors that may appear on the site. If the posted price, incentive, offer or other service is incorrect due to typographical or other error we will only be responsible for honoring the correct price, incentive or offer. We make every effort to provide you the most accurate, up-to-the-minute information however when you are ready to purchase products or services, it is your responsibility to verify with us that all details listed are accurate. Mid-model-year manufacturing changes, as well as dealer-added accessories on the actual vehicle may differ from the options and features shown. MSRP is provided by the manufacturer for informational purposes only. Actual pricing and vehicle information must be verified by us at the time of purchase. Images shown may not necessarily represent the configurable options selected or available in the comparable case study above.

* Although the compare data is updated regularly, we not make any warranty or guarantee of any kind, express or implied, regarding the compare data, including without limitation any warranty regarding its currency, accuracy or completeness or any warranty of merchantability or fitness for particular purpose. All prices, specifications and equipment are subject to change without notice and should not be relied on. Photographs may not reflect all features accurately. Pricing does not include any fees that may apply for vehicle color choice. Vehicle color choice may require certain options that may not be included in the options list.

** MSRP excludes tax. Starting at price refers to the base model, a more expensive model may be shown. Optional equipment may be shown. Pricing may change at any time without notification.