Many of the drivers who visit our dealership are looking to either buy or lease a vehicle. Both options offer their own unique benefits. However, depending on your budget and driving habits, one may be a better fit than the other. Regardless, there is no denying that leasing is a more cost-effective option – at least month to month. Why is that? What makes leasing less expensive?
When you buy a car, you are in essence buying its entire value. That is what you pay for, either when you put money down, or when you take out an automotive loan. You are also paying down that loan over many years. As such, your monthly payments are often higher when you buy a car.
When you lease, you are not paying for the entire value of the car. Rather, you are paying for the cost of its depreciation while the car is in your care. Since leasing is a short-term investment – at most for a few years – your monthly cost is more affordable. On top of that, putting down some money when you lease a car can further lower your costs.
This is one of the reasons why your costs are lower when you lease. However, leasing also requires you abide by mileage parameters. You also have to keep the car in good condition. Because of those reasons, leasing may or may not be good fit for you.
Regardless of which option you choose, our finance team would be proud to assist you. Visit us at Genesis of Round Rock, located in Round Rock, TX. Our team would be proud to help answer any questions you may have. We can also provide you with insight into our Genesis models.
We look forward to assisting you!
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