Should I Buy or Lease?

Are you debating leasing vs. buying your next Boerne ride? Whether you’re choosing a new or certified pre-owned model, this is one of the most important decisions you can make. If you’re wondering if you should buy or lease a car, you’ve come to the right place.

At Ancira Buick GMC, we know car buying can be time-consuming, and we want to simplify everything for you. In the following guide, our finance team compares leasing and buying a car to show which is better for your budget. Learn more below and start the process by applying for financing online!

Leasing vs. Buying a Vehicle

When leasing a vehicle around San Antonio, it’s similar to renting a car for a long-term contract. During this period, you will be locked into monthly payments for the duration of your lease. You won’t be able to build equity as you would from outright purchasing the vehicle. You’re paying for the ability to use this model for a specific number of months and the mileage agreed upon between you and the dealership. When the car lease concludes, you can trade your vehicle in and replace one leased model with another, buy the car, or end your lease.

Pros and Cons of Leasing a Car

When deciding whether you should buy or lease a car,be sure you’re getting the most for your budget and needs. Below, we’ll compare leasing and buying a car and the pros and cons of choosing either option.

Pros:

• Lower Monthly Payments: When discussing leasing vs. buying, you’ll have smaller down payments when you decide to lease a car around Comfort.
• Worry-Free Maintenance: Many vehicles will come with a three-year lease. As a result, most service repairs will be covered within the terms of an existing lease.
• No Worries About Resale: When leasing, you only have to return the car. If you exceed the agreed mileage or there is wear and tear, you will have to pay some fees.
• Get a New Car Every Few Years: You can return your car every few years, meaning you’ll be able to get the latest vehicles and tech.

Cons: 

• Mileage Requirements: Exceeding the agreed-upon mileage means you’ll have to pay some fees.
• Constant Monthly Payments: You must maintain those payments consistently to keep your vehicle.

Pros and Cons of Buying a Car

Pros:

• Ownership: When comparing leasing and buying a car, one difference is you can buy your model outright once the monthly payments are finished. Since you own the vehicle, you can sell it off, trade it in, etc.
• Customize Your Vehicles: Leases have rules regarding what can be done with your vehicle near Kerrville. Owning the car means you won’t have to deal with that.
• No Restrictions: You won’t have to worry about mileage restrictions, wear and tear, or other issues. Repairs and other service appointments are entirely at your discretion.

Cons:

• Higher Monthly Payments: Leasing a vehicle means lower monthly payments for the model you might consider buying.
• Rapid Depreciation: New vehicles lose between 15% and 50% of their total value in the first five years.
• Larger Down Payment: If you’re trying to get approved for a loan, you might have to make a larger down payment. Leasing your vehicle means less chance of this occurring.

Buy or Lease Your Next Vehicle with Ancira Buick GMC

So, should you buy or lease a car? The truth is that that entirely depends on what’s best for your needs and budget. Browse our new and pre-owned vehicle specials to see what catches your eye. Explore all your car-buying options near San Antonio with Ancira Buick GMC!