Leasing vs Buying

What is the difference?

At your Tinley Park Chevy dealership , we want to work with you to get the best deal on the Chevy car, truck, or SUV that’s right for you. That includes looking at what types of safety and tech features you're interested in, fuel economy, passenger, cargo and towing capabilities, financing, and the choice of buying new or used. It’s a lot to take in.

One decision people make when deciding on what type of car they want is whether to buy or lease. There are advantages to both. Read this leasing vs buying guide to help you make your decisions and call Apple Chevrolet if you have questions.

Any good lease vs buy analysis must confront both the positive and negative aspects. Here are some things to consider when looking at car lease vs buy .

Monthly Payments

Leasing

One of the most appealing aspects of leasing is the lower monthly payment. Unlike a car loan, when you make your monthly lease payment, you’re not paying down the principal. You are paying the difference between the value of the vehicle and its expected value once the lease contract is up. There are finance choices as well, but generally, the monthly payment will be lower and sometimes there could be tax benefits of leasing a car vs buying a car.

Buying

One of the benefits of buying a car is that it is cheaper over the long term. When you buy a car and take care of it you can drive it long after the loan is paid off. Do that and you've increased its value to you as the owner.

Mileage & Wear and Tear

Leasing

When you lease a vehicle, it will have a limited number of miles you can drive before extra fees kick in. These mileage penalties can add up over time and not using all the miles stipulated in the contract does not earn you any credit. You will also be on the hook for any extra charges for not returning the vehicle in showroom condition.

Buying

When you buy a new car, you don’t have to pay for any of the miles you drive and you aren’t penalized for the normal wear and tear a vehicle experiences on the road. Of course, you’ll want to bring it to Apple Chevrolet for routine maintenance.

Fees & Costs

Leasing

Early termination fees may apply if you want out the lease early. This is made worse if the reason you need to get out of the lease is that you can’t afford the payments. You’ll also be responsible for replacing car parts such as tires which can be more expensive for newer vehicles.

Buying

When you buy a new car, you don’t have to worry about early termination fees. Even with the great financing available from Apple Chevrolet, your Chevy dealers Orland Park , when you buy there is no leasing contact to honor or break. Also, your monthly payments on a car loan will likely be lower and there’s no penalty if you want to downgrade to a more affordable vehicle.

Buy or Lease from Apple Chevrolet Today!

Whether you lease or buy you can count on Apple Chevrolet, your Tinley Park Chevy dealer to get you a great deal on the Chevy vehicle you want. Need more information on the differences between leasing vs. buying, get in touch with the Chevy dealers near me . Visit us to learn more about possible benefit of leasing a car vs buying to help make the decision that works best for you. We are located at 8585 W. 159th Street in Tinley Park. Or call us at 708-336-3167.

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