When you’re shopping for new GMC or Buick vehicles near Elyria, OH, it can be pretty easy for the process to become more stressful than exciting. Most people get caught up during the process of financing a new car since it involves making lots of important decisions. But here at Nick Abraham Buick GMC, our finance team does their part in taking a load of anxiety off of your shoulders by helping you through the financing process, including deciding if you should lease or buy.
Advantages of Leasing
Leasing has the advantage of being a quicker more affordable option for many car-shoppers. Buying a brand-new car can be just outside of many people’s budgets, making them turn to used cars instead. However, leasing offers lower monthly payments and a smaller down payment than purchasing, making brand-new cars more affordable right away. You also aren’t responsible for the full cost of the car—just the down payment and monthly payments that pay the estimated depreciation over the lease term, which you can expect to be about 36 months.
Advantages of Buying
While you will have to pay more when you make a purchase, you will be able to actually own your car once everything is paid off. This means you can also sell your car later on. If you take good care of your car and keep the value up, you can expect to make a good return on your sale as well. Plus. buying means you aren’t limited by mileage caps that come with lease agreements, so you can take your vehicle out on the road as much as you like.
Visit or contact our Buick and GMC dealership today to learn more about new car financing.