Buy vs Lease: What is the Best Option when Getting a Car?

If you are in the market for a vehicle to travel around the Clintonville, New London, and Shawano area, you will come across a couple decisions you will have to make. One of them is determining if you should buy vs. lease the car you want.

Many factors go into figuring out if buying or leasing a car is the right move for you. Our team at Klein Auto Group put together a guide highlighting each choice giving you a better sense of which way you should go.

What Does it Mean to Buy a Car vs Lease?

When you buy a car, you are purchasing it with the intent to be the outright owner of the car. You will either pay the full amount of the car or, most likely, put a down payment on it with an auto loan that you pay back over time.

A lease is where you pay for the depreciation of the car for the period of time you have it. You will drive the car for a few years then when the terms of lease expire, you return it back to the dealership. Essentially, it is similar to renting an apartment.

Buying a Car Pros

When you own the car, there are many benefits that come along with that. You can customize it however you want or rack up as many miles as you would like. You have the choice to sell it one day or just keep it for as long as you desire.

When you do fully own it, you will no longer have monthly car payments until you decided to buy another car.

Pro Tip: You can shop by payment with Klein Automotive now! Sort models by price so you can find your next car, truck or SUV easier!

Buying a Car Cons

The costs upfront can seem like a lot when you give a down payment of the car you are buying. This down payment usually is up to 20 percent of the car's price tag. Then you'll have a monthly rate to pay off the loan that was taken out. You'll also be fully responsible for any repairs that you'll need to get.

Leasing a Car Pros

The first thing you'll notice is your out-of-pocket costs when you lease a car. Monthly payments are usually lower, and you won't be hit with the down payment of buying a car.

Another advantage is every couple years you get to upgrade the vehicle you are driving. This means you are able to drive a car with the latest and greatest advancements in safety and entertainment.

Leasing a Car Cons

Even though the car payments may be lower, they don't end since you never completely own the car.

If you are someone that has a far daily commute, the mileage restriction may pose a problem. Most leases will limit your mileage usage up to 15,000 miles per year. If you go over that, you'll have to pay the penalty fees.

After Choosing Between Buying vs Leasing

Now that we covered some of the advantages and disadvantages of both options, the choice ultimately comes down to what you prefer. Drivers in Clintonville, New London, and Shawano that want to dive deeper into which may be your best option, you can visit us at Klein Auto Group!

After you conclude whether to buy or lease, you can also schedule a test drive with us!

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Contact

Klein Auto

111 West Madison & 10 West 4th St
Directions Clintonville, WI 54929

  • Sales: (715) 823-2135
  • Parts: (920) 582-4366

Hours

  • Monday 8:30AM-7:00PM
  • Tuesday 8:30AM-7:00PM
  • Wednesday 8:30AM-7:00PM
  • Thursday 8:30AM-6:00PM
  • Friday 8:30AM-6:00PM
  • Saturday 8:30AM-3:00PM
  • Sunday Closed
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