Lease YOur Next VEHICLE with Howard Bentley
CURRENT LEASE OFFERS
IF YOU DO NOT QUALIFY FOR THE LEASE LOYALTY THAT REBATE AMOUNT CAN BE SUBSTITUTED FOR THAT AMOUNT AS CASH DOWN AND THE PAYMENT REFLECTED WOULD STAY THE SAME!
Buy or Lease? You Have Options
For many, purchasing a car is one of the most significant decisions they make due to the large investment involved. However, the emergence of leasing as an alternative financing method has given customers more options to car buying. Our team at Howard Bentley wants to be sure our customers made the right decisions to fit their needs and circumstances. Learn more about the advantages and drawbacks of buying & leasing so that you're confident when you're ready to purchase.
Benefits of Buying
When deciding whether to purchase or lease a Buick or GMC vehicle, there’s no one-size-fits-all answer. Both approaches have their advantages and drawbacks, and the right choice depends on your individual circumstances and preferences. Take the time to evaluate your driving needs, financial situation, and personal priorities before committing to a method. Remember, the goal is to not only enjoy the car you drive but also to feel confident in the financial decision you make.
Benefits of Buying
- Ownership and Equity One of the most significant advantages of buying a vehicle is the sense of ownership. With each monthly payment, you gain equity in the car, an asset that can be sold or traded in the future. This equity can be reinvested into another vehicle, thereby building a financial stake that leasing does not provide.
- No Mileage Restrictions For those who drive extensively, the open road comes with a price when leasing. Each mile over the contracted limit can cost you, making buying a more flexible option. There are no mileage constraints, allowing you to truly enjoy the freedom of the open road without worrying about penalties.
- No Lease-End Obligations When you buy, you are your vehicle's owner. Unlike leases, you are not bound by lease-end obligations. You avoid the hassle of worrying about returning the car in ‘like new’ condition.
- Lower Monthly Payments Leasing often results in lower monthly payments compared to buying. With a lease, you are essentially paying for the car’s depreciation during the term of the lease, not the full value of the vehicle.
- Ability to Drive a New Vehicle More Frequently For buyers who love to switch up their ride, leasing a Buick or GMC allows you to get into a new model every 2-3 years. This not only means you drive a newer vehicle but also one less prone to reliability issues that can surface as cars age.
- Maintenance and Warranty Coverage With a lease, you are typically driving a new vehicle that is often covered under the manufacturer's warranty for the duration of the lease. This can significantly reduce maintenance costs, making the ownership experience less financially burdensome than buying.
- Depreciation and Resale Value The most significant hit to a new vehicle’s value happens in the first year, a consideration that directly affects your investment when you buy. Buick and GMC models tend to hold their value well, but you should still be prepared for some depreciation.
- Financing Options When buying, you have a range of financing options, from traditional loans to dealer financing. It’s essential to shop around for the best interest rates to secure a cost-effective purchase.
- Long-Term Commitment Purchasing a vehicle is a long-term commitment. The decision to buy should be made with the understanding that this car will be with you for the long haul, so it’s vital to choose a vehicle that you will be happy with for many years. If you find yourself in a new vehicle often then consider leasing.
- Mileage Restrictions and Penalties Leases come with mileage agreements, typically around 12,000 miles per year. Going over this can result in additional fees, making it a less attractive option for those who commute or travel frequently.
- Excess Wear and Tear Charges When you return a leased vehicle, you will be charged for any excessive wear and tear beyond what is deemed normal by the terms of the lease. Though, this can be protected by GM's Lease Protection Insurance.
- Lease-End Obligations At the end of a lease, you may face additional costs, such as lease termination fees and disposition charges. On the flip side, GM offers lease loyalty cash to put towards your next vehicle at the end of your lease.
- The Frequent Traveler John, a sales manager, often travels for work, accumulating over 20,000 miles annually. For him, buying is the practical choice, as leasing would incur high mileage fees.
- That New Car Smell Amy enjoys the latest in car technology and prefers to drive a new model every three years. Leasing is a perfect fit for her, given its lower monthly costs and frequent upgrade ability.
When deciding whether to purchase or lease a Buick or GMC vehicle, there’s no one-size-fits-all answer. Both approaches have their advantages and drawbacks, and the right choice depends on your individual circumstances and preferences. Take the time to evaluate your driving needs, financial situation, and personal priorities before committing to a method. Remember, the goal is to not only enjoy the car you drive but also to feel confident in the financial decision you make.
