Leasing a Vehicle
Leasing makes it easier to get higher priced vehicles for less money. You are paying only for a portion of the vehicle instead of buying the entire vehicle. While leasing looks great in the short run, leasing will eventually be more expensive. If you continuously lease a vehicle, you'll always be making payments, and never actually own a vehicle!
Advantages of Leasing
- Monthly payments are generally lower.
- Down Payments are lower.
- You can drive a better car for less money each month.
- Lower repair costs (for a three-year lease, the factory warranty covers most repairs.)
- It's easier to drive a new car every two or three years.
- No trade-in paperwork at the end of the lease.
- You pay sales tax only on the portion of the car you finance.
Disadvantages of Leasing
- You don't own the car you're paying for at the end of the lease.
- Your mileage is limited to a set amount. (Excess miles are paid for at the end of the lease. Mileage limits can be negotiated).
- Lease contracts can be confusing.
- Leasing can be more expensive over a long period of time (as opposed to buying and driving until the vehicle can no longer support you).
- Wear-and-tear charges can add up (paid at lease termination).
- It can be expensive to end a lease early if your driving needs change.
The person who buys a car will have something to show for it at the end of their payments. Once they have made all of their car payments, the car now belongs to them. It may not have much trade-in value, but if you're willing to drive it for several more years, it becomes a cost-efficient mode of transportation for as long as it's properly maintained.
Advantages of Car Buying
- You can modify and change your car as you please.
- It is more economical in the long run unless you buy and trade-in often.
- There is no mileage limit
- Flexibility - You can sell the vehicle, trade it in, and adapt as things change in your life.
Disadvantages of Car Buying
- Monthly payments are possibly higher.
- A higher down payment is generally required.
- You're responsible for maintenance costs after the warranty expires.
Spieler's Inc. Wants to Help You into the Right Vehicle!
No matter which option fits your lifestyle better, Spieler's Inc. is here to help you weigh the pros and cons of each choice. Our expert sales team can help identify your needs and determine what suits you, based on your lifestyle and what you want. Come down to the best car dealership in the Jefferson City area and learn more about leasing a vehicle or buying one.
Proudly Serving the Columbia,
Jefferson City, and California, MO Areas