Are you in need of a vehicle? If so, you have a lot of options out there. Two of the most significant options are leasing and buying. What’s the difference between leasing and buying? Read on to find out.
Leasing a vehicle is similar to a long-term rental. When leasing a vehicle, you get to drive the car for the duration of the lease, making payments on a monthly basis. When your lease term expires, you return the vehicle to the dealership. When returning the vehicle, you can either buy your lease or you can lease a newer vehicle. Leasing is an excellent option for drivers who love getting behind the wheel of the latest cars.
When you buy a car, you are purchasing a vehicle that is in your name. This means you are the owner of the vehicle and you can do whatever you want with your car. You can customize it, drive it for an unlimited amount of miles, and you can sell it once you have paid it off. Buying a car usually means making a significant down payment, then making monthly payments until the car is completely paid off. Buying is a good choice for drivers who want to own the same car for years to come.
There are significant differences between leasing and buying. When leasing a vehicle, you are given a mileage cap that you cannot exceed. Those who are leasing a vehicle also cannot make customizations to their vehicle. However, when leasing, many dealerships include maintenance and repairs in the lease cost. When buying a car, any repairs and routine maintenance must be paid out of your pocket.
Now that you know the differences between leasing and buying, you’re ready to make a choice. Whether you want to lease or buy your next car, My Maven Autos is here to help. Get in touch with us to learn more about our leasing and car buying services. You can call us at 631-969-2836 today!