Should I Lease or Finance my Car?
You’ve been dreaming about having your car ever since you were 16 and driving around the hand-me-down family van. Now that you’ve started earning and are comfortably placed, it’s time to make this dream a reality. As you begin your research into buying that dream car, you realize that it will significantly stretch your finances. You might mope about this. After a good night’s sleep jolts you back to reality, you begin exploring makes and models that will fit your criteria, even as you tone down your expectations. You’re going to get a car, no matter what. You begin exploring financing options. New knowledge arising from research pops up a question: Should I lease or finance my car? At Mark Motors in Boerne, TX, we give you an overview of the difference!
What Is the Difference Between Buying and Leasing Your New Car?
This choice between buying and leasing your new car can be a tough call. Buying means higher monthly costs, but on the plus side, you own a vehicle. On the other hand, leasing your vehicle implies lower monthly payments, letting you drive a car that may be more expensive than you could afford to buy. We list other significant differences for you!
|You don’t own the car. You pay to use it for a fixed period.||Ownership||You own the vehicle and get to keep it for as long as you want.|
|You might have to pay early termination fees to end the lease early.||Early Termination||You can sell or trade in your vehicle whenever you want.|
|You might have to remove any modifications or customizations by the end of the lease.||Customizing||You own the car, so you can do whatever you want to do with it.|
|If your car undergoes wear and tear, most leases will require you to pay a penalty fee.||Wear and Tear||You have to worry about how it will affect the resale value.|
Finance Your Car at Mark Motors
You can leverage our network of global banks and exotic car lenders to ensure that you get the best rate available for financing your vehicle. You can apply by following a simple process. Our team will aid you in coming up with a financial package that suits your needs. For any queries, call us on 830-981-5050.