Leasing vs Financing: What is the Best Choice for You?

Take Home Your New GMC with the Deal that Works for You

When it comes to leasing vs financing a car, many drivers are left shrugging their shoulders on exactly which method of ownership is best for them. Some drivers prefer to lease a vehicle so that they can always drive the latest model, while other drivers prefer to purchase their vehicle so that they can enjoy their vehicle without restrictions.

Here at Gill GMC in Madera, CA we’re here to help you make the decision that’s best for you. We feature a team of experts that can help you make the perfect decision, as well as a Finance Center to help you drive home with a fantastic deal. Let’s take a look at the pros and cons of leasing vs financing a car, and find out what the best choice for you is.

The Good, the Bad, and the Ugly of Leasing

Leasing a vehicle is, in a sense, like renting a car. You’ll make monthly lease payments for a period of two to three years, before returning the car and starting the process over again. Leasing is great for many drivers because it allows them to drive a late model vehicle all the time, while enjoying a vehicle that will likely be under warranty for the entire lease period. Additionally, lease payments are generally cheaper than finance payments because leasing only involves making payments on the depreciation of a vehicle plus an interest rate.

Leasing is a great choice for many drivers who like to drive late model vehicles, leasing is not for everyone. When you lease a car, you’re bound to the conditions of your lease agreement. This means there will be a mileage limit, as well as stipulations that prohibit modifications and additional wear and tear. In addition, you’ll incur additional fees should you end your lease early.

The Ins and Outs of Financing a Vehicle

Financing a car offers more freedom than leasing one. Buying a car also means that once the loan amount is paid off, you’ll be able to enjoy the vehicle for as long as you want without a monthly car note. Additionally, because you’re buying the car, you’re free to customize it as you wish and drive it for as many miles as you’d like.

The downside to buying a car is that your payments may be higher. Because you’re making payments on the entire purchase price of a car, plus interest, and any additional protections, auto loan payments are often higher than lease payments. Additionally, new vehicles have the highest rate of depreciation within their first five years on the road. This means that if you choose to sell your vehicle shortly after purchasing it, you may find that you have negative equity.

Take Home Your New Vehicle Today from Gill GMC

At Gill GMC, buying or leasing a vehicle is easy – the hardest part is always choosing just one model from our wide inventory to take home! Once you’ve chosen the perfect model, we welcome you to take advantage of the many benefits that you’ll find in our Finance Center. We feature competitive car lease deals and auto loan offers along with exclusive benefits that you won’t find anywhere else.

We also offer powerful tools such as a car lease calculator and a car finance calculator to help you estimate your payments. You can even apply for financing directly online from the comfort of your own home!

Stop by Gill GMC today and discover why drivers as far as Notarb, and La Vina, CA come straight to use for all of their automotive needs.