Leasing vs Financing
December 12 2018 - lindsayvolkswagenofdulles_author
When you’re looking to get a new vehicle for your %%target_city_1%% commutes, you might be asking what the best financial path to take is. The answer is finding out what works best for you in terms of leasing vs. buying. While there are benefits of leasing and benefits of financing, the decision is ultimately based on your needs, what you can afford, and what you want. Let’s take a look at the benefits that come along with financing and leasing, so you know which is right for you when you come and visit us at %%di_name%%!
Benefits of Leasing
- Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as any issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.
- Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle. You’ll have tons of options and be able to find the perfect model and features for you.
- High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.
- Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
- Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
- Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local %%di_city%% dealership, pay any remaining fees, and drive away in your next vehicle of choice.
Benefits of Buying
- No Mileage Restrictions: If you’re driving your vehicle inside and outside of the %%target_city_3%% area, you may want to consider buying. Without mileage limits like you get on a leased vehicle, you’re free to drive as much as you want.
- Total Ownership: Buying a vehicle means it’s yours completely. This means you are free to do with the vehicle what you please. There are no restrictions on how it’s modified, decorated, etc.
- Customization: Want to make your new vehicle stand out among the crowd? Buying rather leasing allows you to make cosmetic and mechanical changes as you see fit. Create the car of your dreams without restriction.
- Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
- Financing Options: While leasing isn’t a massive headache, the car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
- Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.
