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 a vehicle is great for short-term driving needs. In other words, if you only need a vehicle 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 vehicle 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 Genesis in good condition. If you return it with damage beyond wear and tear, you will be required to pay for it.
