To Buy or To Lease? That Is The Question

 

The world of auto-financing can be difficult to navigate. Luckily, at Miller Motor Sales, we want to help you do just that, by providing you all the information on leasing versus buying your new car through our in-house financing. Don't worry if you're not sure what to do after reading this post either - you're always welcome to talk to our finance staff about your needs, and they'll help you find a financing solution that works for you. In the meantime, allow us to explain some of the differences between leasing and financing.

Buying Your Vehicle through Financing

When you buy a new car, it's yours when you're done paying for it. End of story. That being said, the time during which you stop paying may just be the time you want a new car if you're the type who doesn't want to pay for major repairs or simply likes that new-car-smell. Another aspect to consider about buying a car is the monthly payments. While buying can be cheaper over the long-haul, it often is significantly more expensive on a monthly basis. If you can afford to buy a car, you may be putting the difference of money each month away and making more in the long-run that way.

Leasing Your Vehicle

Leasing is a great option for those who want low monthly payments and love a new car every few years. However, it too comes with both plusses and minuses. For example, once you start leasing, you get stuck into a cycle of leasing, unless you buy out the car at the end of your lease. Plus, if you drive a lot for work or pleasure, you may not fit into the typical 10,000, 12,000, or 15,000 mile per year lease contracts that are common. If you fit the restrictions though, you might be able to afford more car for the same monthly payment then you could if you were to finance a new car. So if you love the high-end trim models, maybe leasing will work out better for you.

To discuss the auto financing process and how it applies to you in your situation, just come to Miller Motor Sales and ask to speak with one of our finance professionals. They'll help you work through what your ideal new-car-procurement scenario will look like.

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