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Should I Buy or Lease?

Car key & credit card on a signed contract
When shopping for a new vehicle in the Hamburg area, you have several decisions to make. One of the most important is deciding on a method of financing. If you are not purchasing the vehicle outright, you can finance your new car or lease it. A common question we hear at Robert Basil Cadillac is, “Should I buy or lease?” The answer really depends on your budget as well as your driving habits. Robert Basil Cadillac explores the benefits of buying and leasing below to help you make a more informed decision.

Advantages of Buying a Car

  • No Mileage Restrictions: If you do a lot of driving in East Aurora and beyond, it may be best to finance your vehicle. When you lease, you are limited by mileage restrictions. When you finance, you can drive as much as you want without these limits.
  • Customization: If you plan to tailor your vehicle to meet your needs or style, you will want to finance it. Buying rather than leasing allows you to make cosmetic and mechanical changes at any time. There are no restrictions on creating the car of your dreams.
  • Ability to Sell: Because you are not locked into a lease agreement, you have the freedom to sell your vehicle at any time.
  • Less Cost Over Time: Although financing is a bit more costly than leasing initially, your car will become more affordable the longer you own it as you work to pay off the loan.

Advantages of Leasing a Car

  • Lower Payments: One of the main reasons West Seneca drivers opt to lease a vehicle is the lower monthly payments.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax.
  • Trade-Ins: You do not have to deal with selling your vehicle or trading it in when you lease. When the terms of the lease are complete, simply bring the vehicle back to the dealership and exchange it for the latest model.
  • Warranty Coverage: As long as you adhere to the mileage limits set forth in your lease, you will not have to worry about out of pocket expenses for components covered by warranty.
  • The Latest Features: When you lease, you are able to drive a brand new car every couple of years. This allows you to enjoy the most up-to-date features and technology.

Buy or Lease Your Next Cadillac at Robert Basil Cadillac

Should I buy or lease? The choice really comes down to your driving habits and what you need out of your vehicle. If you have additional questions about the leasing or financing process, like “can I lease a car with bad credit?”, do not hesitate to reach out to the experts at Robert Basil Cadillac. While you’re here, be sure to check out our guide to selling a car to a dealership! It is our goal to help you secure some of the most competitive rates in the Orchard Park area. We would also be happy to discuss the basics of a car lease takeover or MSRP.

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