Leasing vs. Purchasing:

Purchasing a vehicle can be an exciting but nerve-racking experience. First-time or experienced vehicle shoppers can be unsure of their options during the process. Choosing between Leasing and Purchasing a vehicle is often a tough decision. Before deciding which path to take, it’s imperative you understand the key differences between the two.

Benefits of Leasing:

When you lease a vehicle, you essentially rent that vehicle for a specific period of time. That time frame can last anywhere between 24- 48 months, sometimes even longer. Once your lease period ends, you can return the vehicle to the dealer or purchase it at a pre-determined amount, which would be agreed upon in the lease contract. From there you are able to lease a new vehicle and repeat that same process. One benefit of leasing a vehicle is that there is no long-term commitment. This can be a great option when you are unsure of your personal long-term needs. Also, this allows you to try out a variety of options during a period of time. This may be the best option for you, depending on your vehicle preferences or financial status.

Benefits of Purchasing:

Purchasing a vehicle is essentially taking ownership of the vehicle. This is great for those looking for a long-term investment. Anyone  who likes to keep a vehicle as long as possible, this is the option for you! If you enjoy having full ownership of your purchases, then purchasing a vehicle could be your best option.

Which is best for you?

As you can tell, there is many ups and downs to both leasing and purchasing. These  are both great options and can be beneficial for different points in your life. Now that you know the key differences between leasing and purchasing it should be a much easier decision. Just remember, it all comes down to which fits your needs and wants better.

Take the Quiz!

 

Determine whether leasing or purchasing is a better fit for you.
1. How long do you keep your vehicle?
a. 2-3 years
b. 4-5 years
c. 6+ years
2. How many miles do you put on your vehicle each year?
a. 8k-12k
b. 13k-17k
c. 17k+
3. At the end of your contract, you tend to:
a. trade- in your existing vehicle for a new one
b. sell your existing vehicle before purchasing another
c. keep your vehicle after payoff
4. How did you obtain your existing vehicle?
a. lease
b. finance
c. cash
5. What enhancements do you make to your vehicle?
a. none, I maintain its factory condition
b. I make minor adjustments
c. I customize the vehicle to my tastes

Give each answer the appropriate value listed below, then total your score.

A=5 points B=3 points C=1 point
18 points or more – Lease
17 points or less – Buy

We offer leasing and purchasing at all Jim Shorkey Auto Group locations including:

Jim Shorkey Kia 

Jim Shorkey Mitsubishi

Jim Shorkey CDJR

Jim Shorkey Ford

Jim Shorkey Kia Wexford

Jim Shorkey CDJR North Hills

Jim Shorkey Mitsubishi North Hills

Jim Shorkey Chevrolet North Hills

Jim Shorkey Kia Uniontown

Jim Shorkey Mitsubishi Uniontown

Jim Shorkey CDJR Uniontown

Jim Shorkey Chevrolet Murrysville

Jim Shorkey Mitsubishi Youngstown, OH

Jim Shorkey CDJR Youngstown, OH

 

 

Follow us on social media:

Facebook: Jim Shorkey Family Auto Group

Instagram: jimshorkeyautogroup

Website: jimshorkey.com

 

 

Tags: buying, car dealership, chevrolet, chevy, chrysler, dodge, fiat, ford, jeep, jim shorkey auto group, kia, leasing, mitsubishi, new cars, pittsburgh, ram
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