Leasing vs. Financing a New Vehicle

Leasing vs. Financing at Victory Chevrolet of Smithville

If you’re looking for a new car, you may be trying to decide between buying and leasing. Leasing has become more popular in recent years, but both options have advantages. You can choose to lease or buy your next vehicle from Victory Chevrolet of Smithville to drive around Smithville, Independence, and Kansas City.

With more people working from home and vehicles becoming more expensive, leasing is often more attractive than in the past. However, it comes with less flexibility than buying, which is still appealing to many. Consider both options before you make the decision on which is right for you.

Leasing with Victory Chevrolet of Smithville

One of the biggest advantages of leasing is that you can drive the vehicle while it’s under warranty and not have to worry about repairs or selling it when it gets older. Lease payments are generally lower than financing because you’re only paying for the time you will be driving the vehicle instead of the entire sticker price.

You can get a new lease when you return your current model at the end of its lease. With this plan, you’re always driving a newer model. You can often afford a more expensive model than what you would be able to get when buying.

Leasing often includes free oil changes and other maintenance. You don’t have to pay for repairs as long as you don’t drive the vehicle excessively. Another benefit is that you don’t have to sell it or trade it in when you want to upgrade.

While leasing is a wonderful option for many drivers, there are a few downsides. For instance, you will be making monthly payments for a long time if you plan to keep leasing. You also have limited mileage or must pay extra for more miles. When you return the vehicle, you may be required to pay for wear and tear if it’s not in good condition.

Buying with Victory Chevrolet of Smithville

Buying is your other option for a new car, truck, or SUV. You’ll find a lot of advantages to this method of getting a new model. One of the main reasons people like to buy over leasing is because at the end of the loan, the vehicle is theirs. They can customize it and change it any way they want and add all kinds of accessories.

Once the loan is paid off, you don’t have to make monthly payments until you decide to buy another model. You don’t have to worry about wear and tear or limiting your travels due to mileage restrictions.

There’s a lot to like about leasing or buying, but the best option is the one that works for you. If you have questions about either option, you can talk to the finance experts with Victory Chevrolet of Smithville. Stop in today to see our current selection of models to lease or buy. Visit us online or in person and pick out your next car, truck, or SUV.