Buy or Lease Your Next Vehicle?

BUYING

Drive as many miles as you want! no overage penalties

Change it up! When you buy, there are less restrictions on how you can personalize your vehicle

Save money in the long run

Trade it in when you want a new vehicle!

You're more likely to buy if this sounds like you:

• If you like to personalize a car, this investment can be lost on a leased car.
• When you lease a car, you are typically capped at 15,000 miles a year. Additional mileage can cost you up to 35 cents per mile. And that can really add up.
• If you like the idea of ownership, you are less likely to be happy with the lease option.
• If you like the feeling of accomplishment that paying off a large purchase brings and should consider that when you lease a car, the payment ends only when you return the car.
• If the car you presently own is over 3 years old you are more likely a buyer. While not always true, you can usually drive for less if you're willing to buy and drive for at least 3 years.
• If you don't mind doing your own car repairs, you probably don't mind driving a car after the warranty expires.

LEASING

Lower monthly payments with the possibility to have low or $0 down

A new car means less repairs and maintenance AND access to the factory warranty

Brand new options to choose from every 2 to 3 years

Less sales tax

Possibilities of lower up-front costs

You're more likely to lease if this sounds like you:

• When you negotiate a 24 or 36-month lease, you can be sure you'll always be driving a new vehicle.
• Lease arrangements usually involve a 15,000 miles-per-year cap and charge for extra miles. If you drive very little, you may be a candidate for a luxury lease.
• Although you need to maintain and repair your leased vehicle just as you would an owned vehicle, because you typically lease for 2 to 3 years, the car is normally under warranty.
• Many people prefer to drive a vehicle that is priced above their means and leasing provides the solution.
• If you don't mind not owning the car, you are free to enjoy the benefits of leasing like low monthly payments and a low down payment.
• If you own the company, and you use your car for business, check with your tax advisor. You may be able to deduct your auto expenses, including your monthly lease payment. And if the company you work for gives you a monthly car allowance, you may want to lease since you'll be able to drive a nicer car for a lower monthly payment.