Buy vs Lease in York, PA
If you’re shopping for a reliable vehicle at Jack Giambalvo Buick GMC, you’ll have the ability to acquire a factory-fresh car through buying and leasing. While these two methods may appear similar, they are different. Before you invest in a vehicle and trek around the York area, let’s explore both options in the guide below.
Buying
Getting a vehicle is a simple process, and one of the most well-known methods is purchasing it through financing. First, you’ll need to go through the Finance Application process, which only takes a few minutes online. If you prefer to do this in person, you’re always welcome to visit our dealership. After you’ve been found eligible, you can select from lenders and choose the institution that has the most reasonable interest rates. Next, a check is made out to our team on your behalf whenever you pick a company to fund your vehicle. Outside of the down payment, you won’t have to make the monthly installment until 30 days after the auto loan is distributed to us.
Leasing
Our Finance Department also provides a leasing program in addition to connecting customers to lenders for auto loans. However, a lease allows you to temporarily drive a new vehicle instead of having the responsibility of permanent ownership. While financing comes with contract periods that last up to seven years, the lease agreement can last up to four years. Additionally, you’ll have the benefit of vehicle and powertrain warranties while driving on roads like South George Street during the time you have the car. To maintain these guarantees, you’ll need to conduct regular inspections and maintenance tasks every six months or so to keep the warranties valid. Another advantage of a lease is that the payments are less expensive than a finance program, and that’s because the contributions are based on the depreciated value of the car.
Which Is Better for You?
When you’re purchasing a vehicle, you’ll eventually own it. This eventually gives you an asset that you’re able to use in the future. In other words, you can utilize the car you’re financing like cash whenever you’re ready to trade it in to get another vehicle. So drivers who are looking to keep a car for the long term should consider buying it outright. Leasing has a shorter duration and is usually favorable for drivers who plan on traversing roads like East Prospect Street for a brief period. Plus, the lease program is useful for motorists who like having the latest models every two to four years. Although leasing is cheaper than financing, it often comes with more expensive car insurance rates, while a finance contract has the opposite effect. For a personal consultation, visit our team during open hours.
