Lease Vs Financing


Learn about the difference between financing & leasing!

Financing:
  • When you obtain a loan to buy your new or certified pre-owned Buick or GMC, your down payment and monthly payments go toward the total purchase price of the vehicle.
  • When the term of the loan is complete and the loan is paid in full, you own the vehicle outright.
Leasing:
  • With a lease, you make monthly payments for the term of that lease within specific limits set up in the contract.
  • Once the term of the lease is complete, the vehicle is returned to the lessor. With the option to buy the vehicle after the lease.
What option is right for me?

** The correct financing option largely depends on three factors: what you want to drive, how much you plan to drive it, and how long you want to keep it. It might be preferable to lease rather than obtain a loan if:
  • You want the better vehicle for your monthly payment.     
  • You drive less than 30-32,500 miles a year (annual maximum miles may vary; please see dealership to find out the latest deals)  
  • You prefer to trade in your car every three years or less.     
  • Owning a car outright is not important to you.    
** If these considerations do not apply to you, it might be better for you to get a loan if:
  • You want your monthly payment to apply to ownership.     
  • You plan to enjoy your vehicle for a long time.     
  • You want to customize your vehicle.     
  • You want the maximum flexibility regarding the number of miles you drive.     
  • You want control of the length of time the vehicle is in your possession.     
Typically, monthly payments on a lease are significantly lower than if you obtain a loan while borrowers enjoy greater flexibility in terms of ownership.

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