Should I Buy or Lease?

“Should I buy or lease a car?” is a question many Myrtle Beach drivers wrestle with. There are pros and cons to both options, and our finance department is here to help. So let’s take a look at some of the key differences between leasing vs. buying.

Should I Buy or Lease My Next Car? Things to Consider

There are five factors you should consider when deciding whether to buy or lease a car for your Charleston commute. Take these factors into account:

• Cost – Buying is usually the more cost-effective option in the long run, but leasing has lower monthly payments. Calculate the total spend for both options.
• Maintenance – With buying, you’ll be responsible for all maintenance costs. Leasing includes maintenance in monthly payments.
• Customization – Buying allows you to customize at will. Leasing limits modifications.
• Mileage – Leasing limits annual mileage, while buying has unlimited mileage.
• Ownership – Buying means you own the car. With leasing, the dealer owns the car.

Leasing vs. Buying: Advantages of Buying

Buying is generally the better financial option if you plan to keep the car longer than 3 years. Here are some of the biggest advantages of buying over leasing your next vehicle:

• You own the car and can keep it as long as you want
• No mileage restrictions – drive as much as you want
• Customize the car however you’d like
• No turn-in or disposition fees at the end of the term
• Build equity as you make payments over time

Leasing vs. Buying: Advantages of Leasing

Leasing makes more sense if you want a new car every 3 years or sooner. Here are some of the biggest pros for leasing instead of buying:

• Lower monthly payments compared to buying
• Includes maintenance and repairs in payments
• Always drive a new car with the latest features
• No down payment required
• Easier to get into a luxury car
• No trade-in hassle when you’re ready for your next car

Let Hadwin-White Subaru of Conway Walk You Through Your Options

If you’re looking for a new Subaru in the Columbia area, the friendly team at Hadwin-White Subaru is here to help. Just ask our finance managers, “Should I buy or lease a car?” They’ll be happy to walk you through the pros and cons of both options. Just be sure to take advantage of our offers and incentives. Stop by our dealership or contact us to discuss leasing vs. buying your next Subaru!