Should I Buy or Lease a Car?

Man and Woman Signing Contract
 

Should I buy or lease a car? Many Scranton and Lehighton drivers ask us this very same question every day, and the answer is that it depends on your particular wants and needs. Some drivers want the short-term flexibility of a lease, while others prefer the long-term investment strategy of financing. Where do you fall on the leasing vs. buying debate? Find out with Bergey's VW of Wilkes-Barre, and get more car-buying tips at Bergey's VW of Wilkes-Barre today!

 

 

What Are the Benefits of Leasing? 

A leasing contract typically lasts for two or three years, so it’s a much shorter-term commitment than buying a car. This can be a great option for those who want flexibility in their financial planning. Once the lease period is over, you have several options: renew your lease, trade in your car, or even switch to financing. Here are some of the reasons that Bloomsburg drivers choose leasing vs. buying.

  • Upgrades: If you love exploring new technology and features, leasing allows you to upgrade without any penalties in just a few years. 
  • Monthly Costs: You only pay for the depreciation that occurs over the duration of the lease term, which means leasing can be a much more affordable option for many drivers.
  • Warranty: The length of your lease contract is usually the same as the length of a bumper-to-bumper warranty, so you don’t have to worry about maintenance and repair costs.

What Are the Benefits of Financing? 

Comparing leasing vs. buying, buying is the more popular option of the two. Why? Financing leads to total ownership of the vehicle. Though you’ll pay more upfront, after your loan is repaid in full, you’ll have no more car payments until you want to switch cars. Here are some of the benefits of financing. 

  • Investment: Financing a car is a great long-term investment. You build equity and build your credit score as you pay off your car, and eventually, the car is yours and yours alone.
  • Customization: While most leases cannot be modified in any way, financed cars can be customized and accessorized to your heart’s content.
  • Mileage: Lease contracts include mileage limitations in the terms, while financed cars do not. If you like to take the scenic route, buying your car is a great choice.

Explore Leasing vs. Buying at Bergey's VW of Wilkes-Barre

Should I lease or buy a car? Bergey's VW of Wilkes-Barre can help you weigh your options, so you can drive away with a smile! Contact us with any questions about leasing vs. buying, or stop by our showroom in Larksville. We’d love to chat about all things automotive.

 

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