Leasing vs. Buying a New Vehicle
Is it time for a new vehicle? Whatever your budget, you always have options available. My family learned this over the past few years after we leased our second vehicle.
What are the Pros of Leasing? According to ConsumerReports.org, 2014, There’s usually no down payment required. If there is, it’s very low. You can buy a higher quality vehicle that you would typically not be able to buy. This rang true when we leased our Chevy Traverse brand new. Leasing a late model is usually covered by a warranty which is a plus.
What about the Cons of Leasing a vehicle? It can typically cost more than a loan Monthly payments are indefinite as long as you keep leasing. You are limited to the amount of miles due to a contract. You could end up owing money if you go over or no credit is issued for any unused miles. The vehicle you lease must be in good condition. You are responsible for any damage upon turning it in.
Continue reading over at Century 3 Chevrolet.