On the hunt for your next vehicle, but not sure if buying or leasing is right for you?
Legacy Chevrolet is here to make the decision easier! There are benefits to both, and the right choice depends on your driving habits, lifestyle, and budget.
In this guide, we'll walk you through the key differences between leasing and buying a Chevrolet so that you can feel confident about your next move.
Whether you're interested in flexible monthly payments with a Chevy lease or the long-term value of financing, our auto finance team is ready to help you explore your options.
Keep reading to learn more, and when you're ready, visit our Chevrolet dealer or contact our finance center to get started!
The Benefits of Leasing a Chevrolet
You can think of leasing a vehicle like renting. When you lease, you're essentially paying to drive the vehicle during its best years, without the long-term commitment of ownership. If you want the flexibility of lower monthly payments and enjoy upgrading your ride every few years, a Chevrolet lease might be a great option for you.
One of the biggest perks of leasing is affordability. Because you're not financing the full price of the vehicle, monthly payments are usually lower than they would be if you purchased it. That means you could likely lease a higher trim level or newer model with more features than you might be able to afford if you were buying outright.
Another benefit is peace of mind. Since lease terms often fall within the manufacturer's warranty period, many major repairs are covered.
While these are all major benefits to leasing, there are a few limitations. Most leases have mileage restrictions that limit the amount you can drive each year. In addition, you could face extra fees for excessive wear and tear. If you enjoy taking road trips or find yourself heading off the beaten path regularly, leasing may not be a great option. But if you're someone who enjoys a ride every few years and doesn't want the hassle of long-term ownership, leasing could be a perfect fit.
Why Buying a Chevrolet is a Smart Investment
Financing a new Chevrolet is a great option if you plan on keeping your vehicle long-term or want the freedom to drive without limits. The biggest benefit to purchasing is that it gives you full ownership and flexibility.
When you finance a Chevy, your monthly payments go toward building equity, something you don't get with a lease. Once your loan is paid off, you own the car outright. Plus, if you want to customize your vehicle, you can do so to your heart's content.
Buying also tends to make more sense if you drive frequently or over long distances. Leases limit you to a certain number of miles per year, and going over that limit can get pricey. With a purchased vehicle, you can drive without thinking twice about how far you're going or how often.
And when you're ready for a new ride, you're in control. Sell it privately, trade it in, or keep it as a second vehicle-the choice is yours!
Leasing vs. Buying: Making an Informed Decision
Choosing between leasing and buying isn't always easy, but understanding the differences will help you make your decision. It's all about choosing what works best for you!
- Leasing might be a smart move if you:
- Drive a predictable number of miles each year, and that number is under the mileage limits of the lease (typically 12,000-15,000 miles)
- Like having the latest models with cutting-edge features
- Want to avoid long-term maintenance costs
- Want lower monthly payments
- Buying might be a better fit if you:
- Drive more than 12,000 to 15,000 miles a year
- Want to build equity and eventually own your vehicle outright
- Prefer the freedom to customize your car however you like
- Want full control over resale, trade-in, or long-term use
Explore Financing Options At Legacy Chevrolet
Still not sure whether to buy a Chevy or lease? Our friendly team at Legacy Chevrolet is here to answer your questions and help you find the best option for your lifestyle and budget.
If you're ready to drive off today in a new or pre-owned model, or just gathering information, we'll make the process easy and stress-free! Stop by our Greenwood car dealership to take the next step!