What's the Difference Between Leasing and Buying?

If you're looking into a new car, SUV, or crossover wagon, there are so many options. In addition to the stress of picking a model, there is also the question of whether to buy or lease. Bayway Volvo Cars in Houston, TX is happy to provide you with a stress-free car shopping experience, and we'll be happy to cover the essentials to help you make a well-informed decision that's best for your scenario.

The Benefits of Leasing

Leasing a vehicle can be a confusing concept to some, but it's quite simple. When you lease a vehicle, you're paying for the usage of the vehicle, and at the end of the lease, you'll have several choices. Let's go over those choices first.

  • You'll be able to turn the vehicle in for a newer or different model.
  • You'd be able to purchase the car at a predetermined amount.
  • You'd be able to extend the lease and continue leasing.
  • You'd discontinue leasing and purchase another vehicle.

With those options, you have a great deal of flexibility at the end of the lease and can upgrade every two to three years, depending on the terms of the lease. It's important to note that nearly all leases have mileage limitations and conditions for what's considered normal wear and tear for the vehicle.

The Benefits of Buying

Buying offers you the freedom to do as you wish with the vehicle once you've made the purchase. Buying also offers you more flexibility when financing. Many lenders will compete to give you the best interest rate to win your business. With leases, excellent credit is the norm and there aren't many subprime options. You'll also have the ability to do as you wish with the vehicle including customizing it.

Which is Right for You?

Leasing is typically best for someone that would like to get a new vehicle more often and buying is more for customers that keep their vehicles for longer periods than a few years.

We have many options for both buying and leasing and will be happy to go over them in more detail. Our dealership would like to offer you a test drive so you can check out our newest arrivals. Regardless of which choice you make, we'll be certain to get you a great deal on a new car, wagon or SUV at Bayway Volvo Cars in Houston, TX.

Categories: finance, new inventory
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