Buy vs Lease near Schaumburg, IL
Are you trying to decide whether buying or leasing a new vehicle is suitable for your next investment? There are benefits to acquiring a fresh car, but how you go about it depends on your situation. Fortunately, our Al Piemonte Buick GMC staff has the answers you’re looking for in this quick overview. Read further to learn how each method can help you obtain a cutting edge model to travel in the Schaumburg area.
Buying
If you’re searching for a vehicle that will last you for an extended time, you should buy a car from our dealership. Through this route, you’ll be able to secure a new or used model and drive it as long as you want. While it’s okay to pay out a lump sum of money to get a vehicle, it’s not as cost-effective as the financing process. Therefore, we encourage customers to start a contract with one of our affiliate lenders to cover the expenses of a car through an auto loan. After you’ve made a down payment, the institution you’ve chosen will send a check on your behalf. You’ll make your first contribution to the agreement 30 days after you accept the terms and use the funding from the finance company. From there, you’re able to drive your Buick or GMC on Interstate 290 without restrictions.
Leasing
As the term suggests, leasing means you’ll be renting a factory-fresh vehicle within a short period. Due to the limited time you’ll have the car, you must agree to mileage restrictions. However, your payments for this arrangement are much lower than the traditional financing program. Additionally, you’ll be able to take advantage of the vehicle and powertrain warranties, which are known to provide routine maintenance at little to no cost. When you get close to the lease expiration date, you’ll have an option to switch to a financing program. If you like the idea of driving a new vehicle every few years, simply exchange your rented model with a higher trim level or car of a different class altogether. For more assistance, speak to one of our Finance Center team members before selecting a car and commuting on East Higgins Road.
Deciding What’s Best for You
Drivers who like the idea of owning a Buick or GMC permanently should purchase the vehicle through financing or by any other means. Through this route, you’ll be making installments until you cover the retail price of the car. Leasing payments are based on the depreciated value of the model you’ll be traveling in for a short duration. At any given time, you’re able to return the vehicle, but we highly suggest you wait until the contract expires. That way, you can avoid fees and select another option without any worries of penalties. In summary, acquire a finance contract when you want an asset after the agreement has concluded. For something with less commitment, go with a lease. If you have any more questions, contact us online for specific details.
