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Tips for Deciding Between Buying or Leasing a New Car

Last updated 5 years ago

Although biking around town can be fun, there are many times when you simply need a car. Even if you’ve done your research and know which car you want, you will still need to decide whether to buy or lease it. If you’re unsure what to do, check out these quick tips: 

 

Take a Close Look at Your Budget

In this poor economic climate, you can never be certain of anything—that’s why it’s important to look at your budget and determine whether you can afford to make new car payments. Leasing a car may result in lower monthly costs as well as a much smaller down payment, but at the end of the leasing period, you will have to give the car back instead of being able to sell it for a profit.   

Determine Your Reasons for Needing a New Car

If you would enjoy showing off a new Saab every couple years and don’t want to deal with the hassle of maintaining an older model, leasing is probably the best option for you. Yet if you don’t mind driving the same car for years to come and simply want a reliable vehicle, you’d likely benefit from buying one.    

Consider Your Long-Term Plans

Buying a car is a tremendous commitment that involves planning for future needs, but that will provide a payoff down the road when you sell the vehicle. Leasing a car, on the other hand, is a much less long-term commitment, and may be a good choice for those who need a new car quickly. 

Whether you’re looking to buy or lease a new Subaru, Saab, or Volkswagen, come by Falcone Automotive. We won’t just help you find a great car—our collision and service centers will provide you with outstanding service for the entire period of your ownership. Call us today at (317) 263-0002 to speak with one of our friendly representatives.   

 

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