Should I Buy or Lease?

If you have chosen the new car, truck, or SUV that will best suit your Calgary-area lifestyle, the next thing you'll need to decide is, "Should I buy or lease?" There are benefits to both, but ultimately it will come down to what your personal preferences are and what you can afford. Learn more about leasing vs. buying from the finance specialists at Capital Chevrolet Buick GMC in Calgary.

Leasing vs. Buying: Long and Short-Term Costs
  • Leasing offers lower monthly payments, and you'll also spend less on the down payment and taxes. If you start a new lease every few years, your payments won't change much and you won't need to worry about escalating service or repair costs.
  • Financing allows you to eliminate your monthly payment entirely, and buying a used vehicle is often more affordable than leasing a new car. Drivers who pay off their financed vehicle will spend less than a driver who continues to lease, but keep in mind that repair costs tend to grow as a vehicle ages.
Leasing vs. Buying: Mileage & Restrictions
  • When financing with the intent to pursue full ownership, you will not have to worry about mileage limits or restrictions.
  • When leasing a vehicle, you'll have to stay within certain strict boundaries or pay a fee at the end of your lease term.
Leasing vs. Buying: Total Ownership and Customization
  • When you buy a vehicle (or finance its full cost), you can add whatever accessories you want. You can also modify the vehicle with custom parts or performance upgrades if you choose, although doing so may void your warranty.
  • When you lease, you'll need to keep the vehicle in as close to factory condition as possible. That's because the dealership still owns the vehicle and they'll need to resell it once the lease term ends.
Leasing vs. Buying: Freedom, Options, & Processes
  • Financing offers flexibility. Even though you're locked into a contract, you can sell or trade-in the vehicle at any time, as long as the vehicle is worth more than you owe. You may also have the option to refinance for a lower interest rate down the line. And of course, the vehicle is yours to keep for as long as you like.
  • Leasing is easy and convenient. As long as you take good care of the vehicle while it's in your possession, just drive it back to our lease return center at the end of your term, and drive home in a new leased vehicle. You might also have the option to buy out the lease to take full ownership if you so desire.
Explore Your Leasing and Financing Options with Capital Chevrolet Buick GMC
Should I buy or lease? Our finance team is here to help you decide which is the best fit for your lifestyle and budget. Make sure to take a look at our current leasing and financing specials, and if you're set on buying a new vehicle, apply for financing with us online to get pre-approved from the comfort of your Okotoks or Lake Bonavista-area home or office today! Don't hesitate to reach out if you have any questions.