Buying vs Leasing

When it comes to financing your next vehicle, you have two options: buying and leasing. Both options have plenty of benefits. However, one may be a better option for you depending on your budget, lifestyle, and credit score.

In this buying vs. leasing guide, we at Mark Wahlberg Chevrolet will show you the benefits of both options to help you zero-in on the financing solution that best fits your needs. Shoppers in Columbus, Grove City, and Dublin should read ahead to learn more!

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Buying vs Leasing: The Biggest Differences

There a several key things that set buying and leasing apart. The first, and most obvious, thing that makes them different is the concept of ownership. When you buy a car, you have total ownership of the vehicle once you’ve paid off your car loan or when you pay for the car in full at the dealership.

With leasing, you’re essentially renting the vehicle. You’ll make monthly payments to the dealership until your lease term is up and then you’ll return the vehicle to the dealership.

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The Pros of Buying Your Next Vehicle

There are many reasons to go with buying your next vehicle including:

• Choice—You can buy virtually any vehicle that is for sale. It doesn’t matter if it’s 50 years old or the newest model year on the lot.
• Customization—When you buy a vehicle, you can customize it as much as you want because it will be your car after it has been totally paid off.
• Trade-In Options—When it comes time to move on to your next car, you can trade in a vehicle that you own in order to supplement your payments for your next car.

The Benefits of Leasing Your Next Vehicle

While leasing differs quite a bit from buying, there are still many reasons to consider leasing as a finance option, including:

• Lower Monthly Payments—When you lease a vehicle, you’re essentially just renting it so you can expect that you’ll have lower monthly payments than you would with buying.
• No Down Payments—Many leases don’t require a down payment so you don’t have to save up a large chunk of cash before you head to the dealership.
• Stretch Your Budget—With lower payments, you’ll be able to stretch your budget and potentially get a vehicle that was high on your wish list.

Ready to Get the Ball Rolling?

We at Mark Wahlberg Chevrolet are thrilled that your search for more information about your financing options brought you to us. We hope that this buying vs. leasing guide helped you determine what the best option is for your needs.

If you still need some help putting together a payment plan, or you’re ready to get started on financing your next car, our finance team can help. Shoppers in Columbus, Grove City, and Dublin can schedule a time to come in to explore our inventory and meet our finance team!