Buy vs Lease in Bartlesville, OK
Upgrading your vehicle comes with plenty of decisions, especially how you are going to pay for it. Here at Patriot Auto Group our dealerships offer both finance and lease options, allowing you to enjoy the ideal option for your budget. Keep reading to learn more buying vs leasing!
Which One is Right for You?
Before you decide on a finance path, it helps to know your budget. If you don’t have a set dollar amount for each month, now is a great time to grab a pencil and paper to list out your expenses. Once you’ve subtracted the essentials, such as rent, food, and insurance, decide how much you want to have for things like going out to eat and shopping. The amount of funds left is a good starting point for your automotive budget. You’ll also want to consider what you can afford to put towards a down payment and if you want to use trade-in your current vehicle to help off-set your purchase.
Leasing is essentially a borrowing process, which means it has less commitment compared to purchasing a vehicle. Most lease agreements lasts under three years, allowing you to enjoy a brand new vehicle with the knowledge that when the contract is you have several easy options -- trade up for the latest iteration of the vehicle you’ve been leasing, purchase it, try out a different model entirely, or hand in the keys and head your own way. Don’t have a large amount of savings for a down payment? Leasing could be the right choice since you don’t need a large amount to keep the monthly payments low. Last but not least, if you’re not a fan of repairing your vehicle or dealing with constant mechanical breakdowns, leasing avoids this.
When you finance a purchase, you are working to pay off the price with the goal of ownership. For many customers this is their first choice since they know they can eventually drive a vehicle with no monthly payment. Also different from leasing is that you can choose to finance a new or a used vehicle. This vastly expands your options for models and price ranges. Plus, if you have a decent amount of savings to provide as a down payment, you can often bring the sticker price down into a cost that can be paid off in just a few years. If you’re okay with eventually driving an older vehicle and selling it when you’re ready for an upgrade, financing a purchasing is a popular choice.
Have been you wondering about buy vs lease in Bartlesville, OK? Patriot Auto Group would love to tell you more, so check out convenient locations and contact us today!