If you're in need of a new-to-you vehicle, you have options. The two main options are to buy or lease your next car. To learn the difference between buying and leasing, keep reading: When buying a car, you are purchasing the vehicle to keep. After making your down payment and completing the monthly payments, you own the vehicle. Buying is an excellent option for those who want to make customization to their car. Buying is also a more suitable option for those who do a lot of driving.
You may even be interested in buying a car because you intend on passing it down to a family member or friend one day. When leasing a car, you are paying to drive the car for a certain amount of time. Typically, lease agreements last one to three years. Once a lease agreement is over, you return the vehicle to the dealership. Leasing is a preferable choice for those who like to drive the latest models. Leasing a new car is more affordable than buying a new car and you aren't as committed to the vehicle. Leasing is also great for those who don't want to make a down payment at the time of purchase. If you need a new vehicle, but you don't have a lot of money to put down, leasing may be a better choice for you because you only have to make monthly payments.
There are downsides to both buying and leasing. For example, buying can be a more expensive option. However, leasing involves mileage limitations and you cannot customize your car. Now that you have a stronger understanding of buying and leasing, you can determine which option is more suitable for you. Whether you want to buy or lease, work with Island Auto Group! Our dealerships are located along Hylan Boulevard in Staten Island, New York.
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