Should I Buy or Lease?

January 9th, 2019 by

young couple getting keys

There are lots of things to consider when shopping for a new car, but figuring out what works best for your Jackson budget is probably the most important. There are benefits to both buying vs. leasing, and ultimately it comes down to what you need and what you can afford. Explore which option makes most sense for you, and contact the auto finance experts at Wilson Kia for additional questions and guidance.

Benefits of Buying

  • No Mileage Restrictions: If you’re covering a lot of miles on your daily Ridgeland commute, buying may work best for you. A leased vehicle will hold you to strict mileage constraints, so if you spend a lot of time in your car, you’ll need the freedom to drive as much as you want.
  • Total Ownership: When you buy a car, you have the ability to use and modify it as you see fit. Adding accessories and personalization is not something you can do with a lease.
  • Customization: Want to create the car of your dreams? Buying allows you change the paint, switch out the engine, and more, making alterations and improvements as you see fit.
  • Ability to Sell: Ready for something new? You can sell or trade in your vehicle whenever you please, but with a lease, you are locked into a time contract no matter what.
  • Financing Options: Buying offers you a wide variety of financing options, with different rates and payments available based on credit score. You can also refinance down the road if something changes.
  • Less Cost Over Time: Buying a car usually requires a larger down payment and higher monthly payments, but because you have the ability to pay off the total, eventually your car will be less expensive the longer you own it.

Benefits of Leasing

  • Lower Payments: Across the board, taking out a lease will afford you lower costs, including monthly payments and initial down payment.
  • Less Sales Tax: Leasing lowers your sales costs in most states, as you only have to pay tax on the down payment and monthly payments.
  • Trade-Ins: Once your term is up, it’s easy to jump into your next leased vehicle. Head to your local Flowood dealership, finish up any remaining payments, and pick out your next car.
  • Great Coverage: Any issues that happen while under your warranty will be covered, provided you are within your designated mileage limit. This makes taking care of your car much easier and more affordable.
  • Options: The average lease lasts about three years, meaning you’ll constantly have the chance to get the latest model packed with the newest technology.
  • High Approval Rate: Getting approved for a lease is much easier than getting a car loan, opening up options for those with credit issues.

Explore Leasing and Financing Options at Wilson Kia

Whether you lease or buy, you need to enter an agreement that is financially feasible for the long term. Discover our latest leasing and financing deals, and work with a team you can trust at Wilson Kia. We’re here to help you feel comfortable with your decisions and drive away with confidence. Find out about used car leasing and how car financing works, then come see us today!

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