Should I Buy or Lease?

Buying or leasing a car is an important choice to make when thinking about your next vehicle. So which is for you? Buying and leasing both have their own pros and cons so be sure to read more about both before you make your decision. With our finance team at Hamden Chevrolet, you can find all of the information you need to find the right financial path for you to take on your next Wallingford model.

Leasing vs. Buying: Long and Short-Term Costs

• Leasing offers lower monthly payments off the bat, all other things being equal. While you’ll be paying less on the down payment as well as on taxes, your payments won’t even out if you start a new lease every few years.
• Financing gives you a chance to eliminate your monthly payment entirely, and buying used is often more affordable than leasing new. While you won’t have continued covered maintenance, you can pay off your vehicle and spend less than those who continue to lease.

Leasing vs. Buying: Mileage & Restrictions

• Those who finance with the intent to pursue full ownership will not have to worry about mileage limits or restrictions.
• Those who lease their vehicles will have to stay within certain strict boundaries, or pay a fee when their lease term comes to a close. 

Leasing vs. Buying: Total Ownership and Customization

• When you buy a vehicle (or finance its full cost), you can add whatever accessories catch your eye. You can also upgrade your vehicle with custom parts, but keep in mind this could void the warranty.
• When you lease, you’ll need to keep the vehicle as close to factory condition as possible. That’s because the dealership still owns the vehicle and they’ll need to resell it after it leaves your hands.

Leasing vs. Buying: Freedom, Options, & Processes

• Financing offers flexibility. You’re locked into a contract, but you can sell or trade in the vehicle at any time (provided that the vehicle is worth more than you owe). You can also refinance later down the line.
• Leasing is easy and convenient. Just take good care of the vehicle while it’s in your possession, drive it back to our lease return center at the end of your term, and drive home in a new vehicle. You might also have the option to buy out the lease and bring your leased vehicle home for good.

Explore Leasing and Financing Options at Hamden Chevrolet

Once you’re ready to get the process on your next model near North Haven, trust the finance team at Hamden Chevrolet to help. Apply for financing online to get pre-approved or contact us with any questions in the meantime.