When you’re in the market for a new vehicle, there are a number of different choices you need to make before you’ll find yourself driving it into your garage. For example, you’ll be narrowing down a make and model, then possibly a colour and trim level. There’s more – perhaps you’ll want specific features and accessories, or even an entire package to be added. But then it will come time to sign the paperwork, and you’ll need to decide whether or not you want to lease or buy. So how do you know which is best? That is where Murray GM Yarmouth & Barrington comes in.Take a look at our Buy vs. Lease comparison and see what suits you.When it comes to whether to lease or buy, there isn’t a right or wrong answer necessarily; both are viable options for obtaining a new vehicle. What it comes down to is what works with your current budget and lifestyle. But having the information on both options is critical to making the best possible decision. Naturally, both vehicles are going to come with their fair share of pros and cons, so here’s an easy-to-read comparison.
You own it for as long as you want it
You are renting the vehicle until the end of the lease, when you can then choose to buy it
Finance payments are usually higher as you are paying off the entire purchase price with interest, taxes, etc.
Generally lower payments each month as you only pay for the depreciation of the vehicle and not its cost
You will be responsible for selling or trading in the vehicle
Returns can be done at the end of the lease
You can drive as much as you like
Tends to be limited to how many miles you can drive per year. You will have to pay charges if you exceed the limit provided
End of Term
When the finance term ends, you have no more payments and you are the owner of the vehicle
When the lease ends, you must either return the vehicle or finance it to own for the remaining cost of the vehicle
As you own the vehicle, you are free to modify it as you see fit
The vehicle needs to be returned in a sellable condition so modification need to be removed and can be costly
So as you can see, determining whether or not your should be buying a car or leasing a car takes a little bit of self-evaluation. There are more details that come into play when you are considering longer lease terms and things of that nature as well. So get in touch with our staff here at Murray GM Yarmouth & Barrington with any further questions you may have or if you need help determining which avenue is the correct one for you. Questions? Call us now: 877-265-2958
Based on EPA mileage ratings. Use for comparison purposes only. Your mileage will vary depending on driving conditions, how you drive and maintain your vehicle, battery-pack age/condition, and other factors.
Although the intention is to capture current incentives and prices as of the date of publication, pricing is subject to change without notice, and may not be accurate or completely current. While every reasonable effort is made to ensure the accuracy of this data, we are not responsible for any errors or omissions contained on these pages. Please verify any information in question with a dealership sales representative. Information provided at this site does not constitute an offer or guarantee of available prices or financing. The estimated selling price that appears after calculating dealer offers is for informational purposes only. You may not qualify for the offers, incentives, discounts, or financing. Offers, incentives, discounts, or financing are subject to expiration and other restrictions. Contact a dealership sales representative to see if you qualify and for complete details of current offers. Offers may vary also by province. Any payment information on the vehicles has been calculated only for the purpose of comparison and is not an offer to provide a loan. This comparison is based on the current prevailing rates and excludes any taxes or additional fees. The APR rate applied is only an estimate, which may be below or above the rate you actually receive. All product illustrations, prices and specifications are based upon current information at the time of programming. Although descriptions are believed correct, complete accuracy cannot be guaranteed. We reserve the right to make changes at any time, without notice or obligation, in the information contained on this site including and without limitation to prices, incentive programs, specifications, equipment, colours, materials, and to change or discontinue models. Images, pricing and options shown are examples, only, and may not reflect exact vehicle colour, trim, options, pricing or other specifications. Images shown may not necessarily represent identical vehicles in transit to the dealership. See dealer for actual price, payments and complete details.