Should You Buy or Lease Your Next Car?

While most consumers pay for a vehicle with cash or finance it with a loan, there are still people who choose to lease a car. We will explore the benefits and the consequences of each option. Every person has a unique situation with unique needs. Make sure you do as much research as possible before reaching a decision.

Buy

• You own the car!
• You're probably making monthly payments unless you paid with cash.
• Forgetting to make payments is grounds for the car to be repossessed and can negatively affect your credit.
• The more you put down up-front, the less your monthly payments will be.
• After you've paid it all off, you will receive your clear title saying you don't owe any more money.
• When it becomes your car, you can keep it, sell it, or trade it. Have your car routinely checked and cleaned.

Lease

• You pay a lower monthly payment and can avoid the steep interest rates of a car loan.
• You do not own the car at any time during or end of the lease. Some dealerships may allow a "lease to own" contract.
• When the lease is up, you turn the car over to the dealership and find a new lease or buy a car.
• You can lease a new car every few years to ride in style, comfort, and on a budget. This is especially great if you're military, traveling, or need constant change.
• You don't have to worry about your asset depreciating.

Whichever you decide, come make Rothrock your dealer of choice!