Buying vs. Leasing

Buying vs. Leasing: What is the Best Way to Get into the Driver's Seat of a New Chevrolet or Cadillac?

Here at Graham Chevrolet Cadillac in Mansfield, our goal is to make sure you get the right payment plan to work with your budget. We are happy to offer both loan and lease plans, and we can help you choose which plan might be the right choice for your lifestyle.

Both loan and lease plans offer benefits, but choosing the right one can largely come down to what your preferences are when exploring options. Below, we will detail why the differences between the two financing plans so you can make an informed decision on which one is right for you.

Is Buying the Right Option?

Buying a vehicle is the tried and true method of getting into a new car, and for good reason. It is one of the most reliable ways to get behind the wheel without locking yourself into a lease. Drivers who buy get to own their vehicle outright, meaning you have control over what you can do with your vehicle. Looking to change the color to something that more resembles your style? You can do that if you own the vehicle. A lease is more like a rental, so you won't ever own it unless you decide to buy it at the end of the term length and pay off the remaining balance. When you buy a vehicle, you also get to drive as many miles as you would like without any repercussions preventing you from doing so. A lease often has a miles limit on it - meaning that if you go over the limit, you will likely incur overage charges that can get pricey.

While financing is easy here at Graham Chevrolet Cadillac, a loan is often an easier plan to finance than a lease. That's because the credit score requirements are often lower than those needed for a lease. This allows for a broader range of purchase options, with plenty of variety when you buy. A loan also doesn't require constant payments - once you pay off the loan, you own the vehicle free and clear. If you purely stick with leased vehicles, you will always have a monthly payment to consider.

Is Leasing the Right Option?

A lease payment plan is the newer form of financing your car. Just like buying, you can enjoy a variety of benefits when you lease a new Chevrolet or Cadillac from our Mansfield dealership. The most popular reason to lease a vehicle is that you benefit from lower monthly payments than if you were to buy, and often a lower down payment at the time of purchase. You pay less because you are only paying for the depreciation of the vehicle, allowing you a bit more financing freedom when choosing the trim level and features you prefer.

Thanks to a shorter term length when leasing, you won't have to worry about routine maintenance charges! A lease is typically covered under the manufacturer's warranty for the lease term. A driver who buys the same car will need to pay for these services out of their pocket, revealing costs that weren't factored into the price.

When you lease a vehicle, you get to experience the newest features and technology available to the Chevrolet or Cadillac model you have picked out. And, as lease terms are shorter and provide the opportunity to upgrade every couple of years, you get to stay current on the latest and greatest features available. A driver who buys a vehicle is often locked in for up to six or seven years, and they will have to choose to bring their vehicle back if they want to upgrade and refresh the payment plan.

There are benefits to both types of financing, but we want to help you get the perfect one for your lifestyle. Stop by today to discuss financing options with our team, and test drive your favorite model!

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  1. Graham Chevrolet Cadillac

    1515 W 4TH ST
    MANSFIELD, OH 44906

    • Sales: (419) 520-7341
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  • Contact our Sales Department at: (419) 520-7341
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