If you’re in the market for a new vehicle in Crestview, FL, you may be wondering if buying or leasing is best for you. “Should I buy or lease?” is a question we often hear from Pace car-buyers, so we’re happy to help. The truth is, both are good options — but which is best for you depends on your financial situation as well as your driving preferences. Keep the following points in mind when trying to decide whether you should buy or lease, and be sure to contact us at Allen Turner Chevrolet if you have any further questions.

Leasing vs. Buying: Long and Short-Term Costs

• Leasing provides lower monthly payments, which is often the best solution for some Fort Walton Beach customers. You’ll also spend less on taxes and your down payment with a lease. If you start a new lease every few years with a new Chevy, your monthly payment probably won’t change much, and you won’t have to worry about most repair costs.
• Buying allows you to eliminate your monthly payment entirely, and buying a used Chevy is often more affordable than leasing in terms of long term costs, because Niceville drivers who pay off their financed vehicle will spend less in the long run than a driver who continues to lease. However, repair costs do tend to grow as a car ages.

The Bottom Line: Most drivers in Crestview keep their vehicles for an average of three years and want to enjoy the latest features. If that sounds like you, leasing is likely your best option. Reach out to our experienced finance team to explore your options in detail.

Leasing vs. Buying: Mileage & Restrictions

When thinking about, “Should I buy or lease?” consider the number of miles you typically drive each year.

• Those drivers who buy and finance full ownership will not have to worry about any mileage limits or restrictions.
• Those drivers who lease their vehicles must stay within certain strict mileage limits or pay a fee when their lease term is over.

The Bottom Line: Those who have a shorter commute will probably find a lease suitable for their needs. Those who love long road trips will likely find buying versus leasing to be a better choice.

Leasing vs. Buying: Total Ownership and Customization

• When you buy a vehicle, you can customize your new Chevy with whatever accessories you want. You can also modify the car with custom auto parts, although you should check first to see if it could void your warranty.
• When you lease, you have to keep the vehicle close to factory condition. The reason is that the dealership still owns the car, and they’ll need to resell it again after your lease is over.

Leasing vs. Buying: Options

• Financing offers flexibility. When you purchase a car with an auto loan, you have a contract, but you can sell or trade-in your vehicle at any time (as long as the car is worth more than you owe). You can also refinance to get a lower interest rate.
• Leasing is easy and convenient. All you need to do is take good care of the vehicle while it’s in your possession. Then, when your lease is over, drive it back to our lease return center and go home in a new Chevy. If you love your car, you may also have the option to buy it and bring your leased vehicle home forever.

The Bottom Line: The ease of leasing is a significant draw for many drivers around Crestview. Still, if you don’t mind maintaining and reselling a vehicle, the money you get for trading in your purchased car could help to offset some future costs.

Explore Your Leasing and Financing Options at Allen Turner Chevrolet

If you have any further questions about whether you should buy or lease, reach out to the auto finance experts at our finance center or take a look at our Finance FAQs. To take the next step, explore the leasing and financing options available at Allen Turner Chevrolet. Contact us today!