Should I Buy or Lease?

Thinking it’s about time you upgraded your Troy commute with a new vehicle? Before you can make things official and drive off the lot in your dream car, you may be wondering “Should I buy or lease?” The decision depends on a number of factors relative to your financial situation and driving habits/needs. To help make the smart decision for yourself, explore the benefits of each option, below!

What Are the Advantages of Buying?

  • Yours to Own: Buying a vehicle means it’s 100 percent yours to own. This is appealing to many buyers, as it gives you the freedom to customize your vehicle as you please. Whether that’s a bumper full of stickers or installing a lift kit, there are no penalties for doing so.
  • Limitless Mileage: Do you tend to put more miles on your vehicles than the average Dayton driver? When you buy a vehicle, you don’t have to deal with the mileage restrictions that go along with leasing.
  • Financing Options: Leasing isn’t truly the difficult process that some might make it out to be, but the financing process does tend to be more straightforward. Plus, you’ll have the option to refinance your loan in the future for a lower interest rate and lower monthly payments.
  • Sell When You Please: Without being locked into a lease agreement, you can sell your vehicle whenever you feel the time is right.
  • Less Cost Over Time: Buying can be more expensive during the initial process, but it is less troublesome in terms of cost over time as you start paying off your loan. When you own your vehicle, it becomes less expensive to own the longer you have it.

What Are the Advantages of Leasing?

  • Enjoy Lower Monthly Payments: Whether you’re talking about monthly payments or your down payment, leasing a vehicle brings on significantly lower payments.
  • Less Sales Tax: Leasing a vehicle comes with a significantly lower sales tax in most states – in some areas, you might only be required to pay tax on your down payment and monthly payments.
  • Worry-Free Warranty Coverage: Stressing about maintaining regular vehicle maintenance will be a thing of the past when you’re leasing! Any issues that arise will be covered by your vehicle’s warranty, provided you don’t exceed your mileage limits.
  • Easy Trade-In Process: When your lease ends, the next steps are simple. You can head to your local dealership, settle any fees that remain, and choose your next vehicle.
  • High Approval Rate: Car loans come with the possibility of being denied. When you’re leasing, it’s far easier to get approved and it’s typically open to individuals with bad or limited credit history.
  • More Choices: When you lease a vehicle, you have the ability to get into a new model with all the latest tech and safety features every few years. You can also test out different types of vehicles – drive a sedan for a few years, then try out a small SUV if you’d like.

Lease or Buy Your Next Car at Dave Arbogast!

Whether you choose to lease vs. buying, Dave Arbogast is here to help you take the next steps. Contact us or visit us in Troy today to explore our extensive new and used inventories and take your favorite model for a spin. Before heading out from Vandalia, be sure to take a look at our latest lease specials and finance offers!

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3540 S County Rd 25A • Troy, OH 45373

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Dave Arbogast 39.987986, -84.2033019.