Should I Buy or Lease?

Are you ready for some updated scenery in your Elmhurst garage? You can lease or buy a new vehicle from Roesch Ford to make this happen. In the leasing vs. buying debate, there are pros and cons of both, which we will go into detail. It comes down to how long you want to have your new vehicle!

As such, we think you’ll benefit from knowing the differences between buying vs. leasing a car from our dealership. We’ll also answer, “Should I buy or lease a car?” There are attractive options for both for your Addison travels.

Should I Buy or Lease a Car: Pros of Leasing

Leasing a new vehicle from Roesch Ford means you essentially rent a vehicle for up to two years. Once the lease is up, you can choose to turn in the vehicle or buy it from us using auto financing. See the benefits of leasing vs. buying in Bensenville here: 

• Monthly payments will be lower with leasing vs. buying
• Down payments are generally smaller
• Sales tax is smaller
• Upfront costs are less
• Flexibility of renewing the lease and swapping out for a brand-new vehicle, financing the remainder of the entire value of your lease, or ending the lease agreement
• Driving a brand-new vehicle every two years with the latest and greatest technology
• Vehicle is under warranty provided you drive within the lease stipulations

Should I Buy or Lease a Car: Pros of Buying 

Buying a new vehicle has several advantages in the leasing vs. buying debate.

• Full control over what you do with the vehicle when it comes to miles driven, where to drive, and what repairs to make.
• Keeping the proceeds from the sale of the car later
• Improving your credit history and credit score over the long term when making payments on time
• Buying a certified pre-owned vehicle in like-new condition or a quality used vehicle

The short version of leasing vs. buying is that you can get a new vehicle every two years and have fewer costs for leasing. When buying, you’ll have more control over what to do with the vehicle and you can reap any rewards from the sale later.

Leasing vs. Buying: Mileage & Restrictions

• When financing with the intent of paying off the loan, you don’t have to worry about mileage limits or restrictions. You can drive the vehicle as many miles a year as you want, and you can take advantage of the full warranty.
• When leasing a vehicle, you must remain within certain strict boundaries or pay a fee at the end of your lease term. You may have to keep the mileage under 10,000 annually to ensure the engine stays in top condition. You’ll also have to bring the vehicle in for its regularly scheduled maintenance because the dealership may sell it as a certified pre-owned model after the lease is up.

Leasing vs. Buying: Total Ownership and Customization

• When you buy a vehicle, you can add all the accessories you want and modify the vehicle with custom parts or performance upgrades. You have complete control, just be wary about voiding the warranty.
• When you lease, you’ll need to keep the vehicle in as close to factory condition as possible. The dealership still owns the vehicle during the entirety of the lease.

Talk to Us About Leasing vs. Buying at Roesch Ford

Ready to move forward? Our finance center can discuss your options for leasing vs. buying. If you have a vehicle you’d like to see closer, contact us or call 630-279-6000 to schedule a test drive with our team near Villa Park. We’re happy to help in any way we can!