Leasing vs. Buying

When you arrive on our lot, you may not know which purchasing option you want to choose. Here at Genesis of Round Rock, we are proud to have a team you can trust. They can answer any questions you have - including those about the differences between purchasing and leasing.

So what are the differences? And which option is best for you?

Leasing

Leasing a car is great for short-term driving needs. In other words, if you only need a car for a couple of years, leasing can be a great option. The payment structure is focused on fixed monthly installments, making it more affordable. This can be great for drivers who don't need a long-term vehicle. It also gives you more flexibility after your lease is up. If you want to renew your lease you can. Alternative, you can buy the leased car if you prefer that.

Best of all, while a down payment is recommended, you don't need to take out an automotive loan. So, if you are looking to avoid taking out a loan, leasing is a great alternative.

Even with these benefits, there are some drawbacks. Leasing comes with mileage parameters: you are allotted a certain number of miles to use. If you go over those miles, you will be charged extra for them. Additionally, you are required to keep your car in good condition. If you return it with damage beyond wear and tear, you will be required to pay for it.

Purchasing

Purchasing is often the default option for many drivers. After all, you want to own your car! Buying does come with its advantages. You don't have to worry about mileage parameters or condition requirements. You can drive your car as often and as far as you want.

However, there are some drawbacks, too. Taking out an automotive loan comes with its downsides. Not only are affordable payments difficult to negotiate, but you have to get your credit checked. You also have to meet certain requirements to qualify for the loan in the first place. Even beyond that, purchasing a vehicle links you a specific car for the foreseeable future. Even deciding to sell your car can be difficult and will depend on how much value the car has left and how much you have paid off.

However, we do have tools to help make the financing process smoother and more efficient. That includes our online finance application.

Ready To Learn More?

Whether you are interested in purchasing or leasing, our financing team will be here to help! Stop by today and we can answer any questions you may have about leasing and buying. Our team at Genesis of Round Rock in Round Rock, TX would be happy to help!

We also have a variety of vehicle incentives available for you to check out.

We are proud to serve folks in Cedar Park, Austin, Pflugerville, and Georgetown, TX.