Should I Lease or Buy a New Car in PA?

Perhaps one of the biggest decisions when it comes to buying a new car is, "Should I lease or loan?". Even though this decision is important, it doesn't have to be difficult. Choosing between these two options is based primarily on your own personal preferences. Read below to see the benefits of either option.

Benefits of Leasing a New Car

Car leasing is meant for those that don't drive a lot of miles, are okay with not being able to keep the car after the payments have ended, and want to trade up when their lease is over with. Here are some of the benefits for leasing:

  • Lower monthly payments and lower down payment.
  • Newer cars for a less expensive leasing price.
  • Leased vehicles come with a warranty so, if something does go wrong, you won't be shelling out a ton of cash to fix it.
  • When your lease ends you can restart a new lease with a newer vehicle.
  • You don't have to worry about trading in your old vehicle for a new one when the time comes to upgrade.

Buying of Buying a New Car

Buying is meant for those that like to have the freedom to do whatever they want to with their car. Once those papers are signed, the car is yours. Here are some of the benefits of buying:

  • Even though the payments are normally slightly higher than leasing payments, once they are done you own your car and won't have any more monthly car bills.
  • Want to add that cool accessory? When you buy you can do whatever you want to your car.
  • If you drive a lot of miles, or, if you like to have the freedom to take that long road trip and not get penalized for it, buying is probably better for you.
  • You aren't stuck in a lease so you can sell your vehicle whenever you need to.
  • When you are ready to purchase another vehicle you can use your old one as a trade-in.

Do You Still Have Questions?

If you can't seem to make up your mind, then take a look at our buying vs. leasing article. Here we discuss more in depth about the pros and cons of each option and give you a better idea of which one is right for you. You can also stop by our auto financing department, here at Robin Ford, serving Glenolden, Springfield, Delaware County, Ridley Park, and Darby, to put our over 50 years of service to the test. Let our highly-experienced staff discuss their professional opinions on leasing vs. loaning, current Ford incentives,  and answer any questions that you may have.

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