When you are in the market for a new vehicle, there are a number of different choices you need to make before you will find yourself driving it into your garage. For example, you will be narrowing down a make and model, then possibly a color and trim level. There is more; perhaps you will want specific features and accessories, or even an entire package to be added. But then it will come time to sign the paperwork, and you will need to decide whether or not you want to lease or buy this vehicle. So how do you know which is best? That is where Murray GM Merritt comes in. Take a look at our Lease vs. Buy comparison in Merritt, B.C. and see what suits you.Choosing between the two really is not like choosing which vehicle you want or even what to have for dinner. When it comes to whether or not to lease or buy, there is not a right or wrong answer necessarily, both are very viable options for obtaining a new vehicle. What it comes down to is what works with your current budget and lifestyle. After that, things just being to fall into place. But having the information on both options is critical to making the best possible decision. Murray GM is the key to hassle free, and we are giving you that information without the hassle of you doing the digging.Naturally, both vehicles are going to come with their fair share of pros and cons, so we are here to put those side by side for an easy to read comparison two.
You own it for as long as you want it.
You are renting the vehicle until the end of the lease where you can then buy it.
Finance payments are usually higher as you are paying off the entire purchase price with interest, taxes, etc.
Generally lower payments each month as you only pay for the depreciation of the vehicle and not its cost.
You will be responsible for selling or trading in the vehicle.
Returns can be done at the end of the lease.
You can drive as much as you would like.
Tend to be limited to how many miles you can drive per year and you will have to pay charges if you exceed the limit provided.
End of Term
When the finance term ends you have no more payments and you are the owner of the vehicle.
When the lease ends, you must either return the vehicle or finance it to own for the remaining cost of the vehicle.
As you own the vehicle, you are free to modify it as you see fit.
The vehicle needs to be returned in a saleable condition so modifications need to be removed and can be costly.
So as you can see, determining whether or not your should be buying a car or leasing a car takes a little bit of self-evaluation. There are more details that come into play when you are considering longer lease terms and things of that nature as well. So get in touch with our staff here at Murray GM Merritt with any further questions you may have or if you need help determining which avenue is the correct one for you.