When it comes to acquiring a new vehicle, there are two primary options to consider: buying or leasing. At Herb Jones Chevrolet, we understand that the differences between these choices can be confusing. That’s why our team of finance experts is here to help you make an informed decision. Let’s break down the key differences between buying and leasing:
Buying
When you choose to buy a car from Herb Jones Chevrolet, you become the owner. The title is in your name, with the lender financing the car as a secondary party. As you make the final payment, you’ll receive a free and clear title.
Key Points:
- Full ownership of the vehicle.
- Costs are typically higher, considering down payment requirements and month-to-month expenses like maintenance and repairs.
- No mileage or wear and tear restrictions. Drive as much as you please, but keep in mind that higher mileage may affect the car’s resale value.
Leasing
Opting for a lease means you’re paying to drive the vehicle for a predetermined period. In this case, the lender holds the primary position on the title, and you are listed as the secondary party. At the end of the lease term, you have the option to purchase the vehicle.
Key Points:
- Lower costs compared to buying, as monthly payments are typically reduced, and you’re driving a relatively new car.
- Mileage limits and wear and tear guidelines apply. Adhering to these guidelines helps avoid additional fees. However, you can customize your mileage allowance based on your driving habits.
Contact Herb Jones Chevrolet Today
Whether you’re leaning towards buying or leasing, the team at Herb Jones Chevrolet is here to assist you. If you have further questions or need personalized advice, don’t hesitate to reach out to us. Contact us today, and our dedicated staff will provide the information you need to make the right decision.