Should I Buy or Lease?

Couple Buying A Car

So you know what you want to drive, but you aren’t sure if whether buying or leasing is right for you? Then you should take a breath of relief now that you know that Don Hattan Dealerships has you covered by helping you understand the difference between them, so you can hit the road in Derby in the right vehicle for you. Whether you should buy or lease is one of the most commonly asked questions out there, and our finance department has made it easy to understand the difference with this handy guide. So read on, and once you’re ready to take the next step, contact us to schedule a test drive around El Dorado.

Leasing vs. Buying: Long and Short-Term Costs

  • Leasing offers lower monthly payments off the bat, all other things being equal. You’ll also spend less on taxes and down payments. However, if you start a new lease every few years, your payments won’t change much over the years. Another upside to leasing is you won’t have to worry about escalating service or repair costs.
  • Financing gives you a chance to eliminate your monthly payment entirely, and buying used is often more affordable than leasing new. Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, but repair costs tend to grow as a vehicle ages. While you will be responsible for repairs to your vehicle, you are free to make modifications to it anytime you want.

Most Newton drivers keep their vehicles for an average of three years, and just about everyone we talk to wants to enjoy the latest features. If you share these goals, you’ll most likely find leasing to be the preferable option. If you’re still set on full ownership, connect with our finance team to explore your options.

Leasing vs. Buying: Mileage & Restrictions

  • Those who finance with the intent to pursue full ownership will not have to worry about mileage limits or restrictions.
  • Those who lease their vehicles will have to stay within certain strict boundaries, or pay a fee when their lease term comes to a close.

Leasing is ideal for those who commute a short distance, while those who love their weekenders and road trips will likely find financing to be a better fit.

Leasing vs. Buying: Total Ownership and Customization

  • When you buy a vehicle (or finance its full cost), you can add whatever accessories catch your eye. You can also modify the vehicle more extensively with custom parts or upgrades if you choose, although doing so may void your warranty.
  • When you lease, you’ll need to keep the vehicle as close to factory condition as possible. That’s because the dealership still owns the vehicle, and they’ll need to resell it after it leaves your hands.

Whether you’re interested in off-roading, or you are wanting to improve performance driving and vehicle customization, you’ll find that financing offers you the flexibility to make these changes.

Leasing vs. Buying: Freedom, Options, & Processes

  • Financing offers flexibility. You’re locked into a contract, but you can sell or trade in the vehicle at any time (provided that the vehicle is worth more than you owe). You may also be able to refinance for a lower rate down the line. And of course, the vehicle is yours to keep for as long as you like.
  • Leasing is easy and convenient. Just take good care of the vehicle while it’s in your possession, drive it back to our lease return center at the end of your term, and drive home in a new vehicle. You might also have the option to buy out the lease and bring your leased vehicle home for good.

Explore Leasing and Financing Options at Don Hattan Dealerships

No matter which model of vehicle you’re interested in, you’ll be able to find a large selection of new and used models available in our dealership. So stop in today, and let us help you take home your favorite without having to worry about all the hassle.

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Don Hattan Dealerships 37.688889, -97.336111.