201 US Route 66 Moriarty, NM 87035 505-832-5106

Buying vs. Leasing a Car

You need a new car. You scrounge up your courage to approach the dealership. You peruse your selection, take some test drives and maybe decide on one. But then something you weren’t counting on happens: the dealer asks, "Have you considered leasing?" The idea of leasing could expand your options, but buying may have some long-term benefits. What do you do?

Buying a Car

The option to buy a car, whether you buy it outright (which is more likely if you’re looking at a pre-owned vehicle) or finance it, is always available. If you choose this option, here’s what to expect:

Pros

·         You get to keep your car; it becomes a permanent asset once you pay off your auto loan (if any)

·         You will eventually pay off your auto loan, and then you have no more monthly obligation

·         Having a paid-for vehicle is a distinct advantage with an expanding family and/or a family expecting to have an increase in the number of drivers

Cons

·         Once the factory warranty expires, you are responsible for all vehicle maintenance and repairs

·         Vehicle value depreciates quickly, so what you can get for your car as a trade-in or private sale may limit what you can afford the next time you need or want a new car

All things considered, if you are certain you want to keep the car for a long time and like the idea of ownership, buying is for you.

Leasing a Car

Leasing may be a more attractive option for many people in pursuit of a new car. If you choose to lease, here’s what to expect:

Pros

·         Lower monthly payment

·         No money down (may depend on credit or other eligibility criteria)

·         Expands your selection of vehicles that may fit in your budget, including a number of newer, higher-end models (this may be important for some lines of work, like real estate)

·         Most repairs are covered under the manufacturer’s warranty

Cons

·         Lease terms may have restrictive mileage limits, over which you may owe a fee or penalty

·         You do not gain an asset at the end of the lease term

·         You always have a car payment

 

If you like having a new car every few years and don't mind a car payment, leasing is likely the best for you.

For those interested in buying a car without the markup on brand new models, Unique Enterprises has the quality vehicle you need. We have a lot full of quality pre-owned cars and trucks and the financing options to make them affordable. Visit us in Moriarty, NM today.


Buying vs. Leasing a Car

You need a new car. You scrounge up your courage to approach the dealership. You peruse your selection, take some test drives and maybe decide on one. But then something you weren’t counting on happens: the dealer asks, "Have you considered leasing?" The idea of leasing could expand your options, but buying may have some long-term benefits. What do you do?

Buying a Car

The option to buy a car, whether you buy it outright (which is more likely if you’re looking at a pre-owned vehicle) or finance it, is always available. If you choose this option, here’s what to expect:

Pros

·         You get to keep your car; it becomes a permanent asset once you pay off your auto loan (if any)

·         You will eventually pay off your auto loan, and then you have no more monthly obligation

·         Having a paid-for vehicle is a distinct advantage with an expanding family and/or a family expecting to have an increase in the number of drivers

Cons

·         Once the factory warranty expires, you are responsible for all vehicle maintenance and repairs

·         Vehicle value depreciates quickly, so what you can get for your car as a trade-in or private sale may limit what you can afford the next time you need or want a new car

All things considered, if you are certain you want to keep the car for a long time and like the idea of ownership, buying is for you.

Leasing a Car

Leasing may be a more attractive option for many people in pursuit of a new car. If you choose to lease, here’s what to expect:

Pros

·         Lower monthly payment

·         No money down (may depend on credit or other eligibility criteria)

·         Expands your selection of vehicles that may fit in your budget, including a number of newer, higher-end models (this may be important for some lines of work, like real estate)

·         Most repairs are covered under the manufacturer’s warranty

Cons

·         Lease terms may have restrictive mileage limits, over which you may owe a fee or penalty

·         You do not gain an asset at the end of the lease term

·         You always have a car payment

 

If you like having a new car every few years and don't mind a car payment, leasing is likely the best for you.

For those interested in buying a car without the markup on brand new models, Unique Enterprises has the quality vehicle you need. We have a lot full of quality pre-owned cars and trucks and the financing options to make them affordable. Visit us in Moriarty, NM today.


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