Buy vs. Lease Your New Vehicle | Greenville, SC | Near Spartanburg, Anderson & the Upstate

When it comes time to get a new car, people are now faced with two popular choices: buying and leasing. You've likely received conflicting advice from family and friends, but at the end of the day, what works best for you? Because we try to keep things as simple as possible for our customers, we've assembled this list of various advantages and disadvantages for each option. Every person's situation and financial state is different, so while there isn't a one-size-fits-all option, there are some helpful things to consider when making your decision. We've listed them below for you to look over.
WHY LEASE A VEHICLE

Freedom to Decide

Freedom and flexibility are two of the best benefits of leasing a vehicle. When leasing, customers have the choice to drive a new vehicle every few years if they prefer and postpone the purchase decision, without the inconvenience of having to sell or trade the vehicle.

Flexibility

The average leasing terms last between 24 and 60 months. With shorter terms, it's easier to keep your payments more affordable. Plus, you're able to choose your mileage. Lessees are normally given 12,000 or 15,000 miles per year, but if you need a higher mileage limit, you're given the choice to purchase more miles at signing.

Lower Payments

Because you're only purchasing the right to drive a vehicle for a set amount of time, your financial responsibility and your monthly payments may be greatly reduced. Also, if you're not prepared to put down a large down payment, don't worry! Leasing may be the choice for you, as there are leasing options that require $0 down.

Hazard-Free Driving

Because most leases last for two to three years, your vehicle is usually covered with warranty protection for as long as you have it.

True Convenience

When a lease ends, you simply return your vehicle and pay any fees that remain (such as for excess mileage or wear and tear) and taxes. If you've made the decision to keep your vehicle at lease-end, you can also take the opportunity to buy it at a predetermined price. In either case, there's no need for you to sell it or trade it in unless it benefits you.

WHY BUY A VEHICLE

Ownership

Ownership is the leading benefit of buying your next vehicle instead of deciding to lease. If you are planning to keep your vehicle for an extended period of time or just as long as possible, then buying is the better option for you. Plus, choosing to buy rather than lease provides you with the option to customize your vehicle just the way you like it.

No Mileage Limitation

When financing your vehicle, you are accountable for the miles you travel and don't have a mileage restriction like you do with leasing. Leasing requires that you calculate in advance how many miles you'll end up driving each year. Ownership allows you the freedom to drive as much and as far as you want without collecting any fees.

Payment Flexibility

When purchasing a vehicle, you can choose to finance or buy outright with cash. If you buy with cash, you become the owner of the vehicle immediately and don't have to worry about monthly payments. If you choose to purchase a vehicle using a finance program, you have an extended period of time with a loan to pay off the vehicle. For the best outcome when financing, we strongly recommend that you acquire the most affordable, dependable and competitive rates possible, like what we offer here at Audi Greenville.

True Freedom

When you finish your payment schedule, in typically four to six years, you own your vehicle. You can keep driving it for as long as you desire without further payments, or choose to sell or trade at any time. Once you own the vehicle and are no longer making monthly payments, this means you could potentially place those same funds toward your savings.

If you’re interested in buying or leasing of one of our vehicles, give us a call, or stop by our dealership at 200 Duvall Drive, Greenville, SC 29607 for a test-drive. We look forward to serving our customers from Greenville, Spartanburg, Anderson and the Upstate!