Leasing vs. Buying: What’s the Difference?

Leasing vs. Buying paperwork


When you find a new car that’s fit for your Madison commute, you’ll essentially have two options: buying the car or leasing it. With buying or financing your car, you’ll make payments on it to eventually own it completely. With leasing, you’re also making monthly payments on the vehicle, but you’re basically renting the vehicle until your lease term is up, and then you’ll return it to the dealership. Learn which option is the right choice for you with the finance center at Herrin-Gear Chevrolet, and then visit us to go over all of your buying and leasing options in detail. 

Leasing vs. Buying: Pros & Cons

Whether you decide to buy or lease a new car will depend on which option best fits your circumstances. Each option has its advantages and disadvantages, so it’s important to carefully consider the pros and cons of both options before choosing one. To help you decide which option might be the best fit for you, here are the pros and cons of leasing and buying: 

Leasing

Advantages: 

  • Flexibility 
  • Easy return process
  • Lower monthly payments than taking out a loan
  • Multiple options at the end of your lease, like upgrading to a new model

Disadvantages: 

  • Mileage restrictions
  • No complete ownership of the vehicle 

Buying 

Advantages: 

  • Total ownership of the vehicle
  • No mileage limits
  • Ability to customize as you choose

Disadvantages: 

  • Higher monthly payments than leasing
  • Depreciation over time

If you plan on mostly driving around in the Brandon area and want lower monthly payments, then leasing might be the option for you. However, buying allows you to customize your vehicle how you want, and you won’t have mileage restrictions. 

The HG Advantage to Leasing

If you choose to lease your next vehicle, then choose the HG advantage to get the most out of your shopping experience. What is the HG advantage? When you return your vehicle to our lease center in Jackson or lease a new car from us, you’ll experience the following perks: 

  • Great Selection of New Chevy Models
  • Excellent Lease Specials
  • No Negative Equity
  • Concierge Service
  • And More!

When you return a leased vehicle to our return center, you can upgrade to a new model, buy out your lease, or return your lease and simply walk away. The choice is yours, and we make it easy at Herrin-Gear Chevrolet. 

Buy or Lease a Car at Herrin-Gear Chevrolet

Contact us to learn more about how you can buy a new car or use the HG leasing advantage to get the car that’s perfect for your future Clinton drives.