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Buying vs Leasing


When it comes time to figure out the ideal payment plan for your new car, the main choice to make is whether you want to buy or lease your vehicle. While each have their own benefits, which our Sussman Auto Group team outlines below, one might be the better option for you.

Let’s dive in to see what buying vs. leasing a car means and what you gain when buying or leasing your car. That way, you can figure out which option is best for you so you can get one step closer to driving around Jenkintown, Abington, and Willow Grove, Pennsylvania, in your new ride!


Sales man

Buying vs Leasing: What’s the Difference?

While they are the two main options when it comes to financing for your new car, buying vs. leasing a vehicle have some key differences. Buying a car is a straightforward financing plan that lets you gain ownership of the vehicle.

Whether you pay fully in cash or use an auto loan, you can buy a car and completely own the title of it. When you lease a car, you are basically borrowing it from the dealership for a set period of time.

During that time, you can drive it around on a daily basis, then when the lease finishes, you will return it right back to the dealership. You can think of the two options as similar to buying vs. renting a home.


Reasons to Buy a Car

Since you’ll become the owner of the vehicle when you buy it, there are a handful of specific benefits you’ll gain. First off, since the vehicle is yours, you can customize it however you’d like. That means adding whatever accessories you want to the exterior or interior.

It also means you can drive it for as many miles as you’d like. That is why many drivers who like to take road trips in the summer or have a longer commute to work prefer buying their car. Another benefit of buying a car is that you can then sell it later on and gain back some of your initial investment.


Leasing paperwork

Reasons to Lease a Car

There are also unique benefits to leasing a car to consider. One of them being the fact that leases tend to offer lower monthly payments. That is because since you aren’t buying the car but just simply borrowing it from the dealership for a few years, your costs are just for a portion of the car’s value.

This allows many drivers who want a new car, and a particular trim level with more features, to get exactly what they want while keeping payments within a comfortable budget. Also, a lease allows you to have long-term flexibility.

Since most leases last for just a few years, you will be able to switch to another new car when that time comes. All you need to do is simply return the vehicle to the dealership and then you can get in the latest edition of that model or a different model entirely if your needs change.


Leasing vs Buying: Which Option Is Best?

Just like the decision between getting a sedan or SUV, choosing between leasing vs. buying will come down to your individual needs. Luckily, our Sussman Auto Group finance team can help you make your final choice!

Just stop by or contact us today to chat with one of our experts to buy or lease that new car you want to take out on the roads of Jenkintown, Abington, and Willow Grove, PA.


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