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Should You Buy or Lease a Vehicle? Compare Buying vs. Leasing Options

If you’re in the market for a new car, truck, SUV, or crossover, one of the most crucial decisions you need to make is whether you want to buy a new or used vehicle, or lease a new vehicle. At Graff Chevrolet in Bay City, we know that buying or leasing a vehicle is a big investment, so we understand the importance of making the right decision based on your individual needs. We want to make sure you are comfortable with the choice you make on whether to buy or lease, and that you have been provided all the information you need to make that decision confidently.

So, do you know whether you should you buy or lease your next vehicle? The auto experts at Hank Graff Bay City are here to help you decide with our complete guide to buying or leasing, including the facts, pros, and cons of each option. Before we get started, here a few things you might want to consider overall:

  • Your driving habits
  • Your daily commute
  • Type of vehicle you want
  • Monthly budget
  • Maintenance costs

Each of these ownership factors will help guide you through your decision on whether buying or leasing your next vehicle is best for you. Take a look at each option below and think about which one works best for YOUR lifestyle. Every vehicle owner has their own unique situation and needs, so it must be your decision whether to buy or lease your next car, truck, SUV, or crossover. If you have any questions about leasing or buying, give us a call at (989) 684-4411. Our team of knowledgeable auto experts is happy to help with anything you need at our Hank Graff Chevy dealership in Bay City, MI.

Which is the best option for you? Buying or Leasing

Buying vs. Leasing a Vehicle
Buying vs. Leasing a Vehicle
  • Drive only 1 vehicle for 60+ months
  • Monthly payments vary depending on down payment
  • Maintenance must be covered by owner or warranty
  • No limit on number of miles driven
  • You can trade-in or sell your vehicle anytime
  • Pay for the full cost of the vehicle
  • Buying builds buyer’s equity
How To Buy A Car
  • Drive up to 2.5 vehicles over 60 months
  • Lease periods range from 24-72 months
  • Monthly payments vary depending on down payment
  • Specific mileage allowance
  • Minimal maintenance required
  • Lease price is based on percentage of vehicle cost & length of lease
How To Lease A Car
Buying vs. Leasing a Vehicle
  • Ability to customize or modify vehicle
  • You own the vehicle after the loan is paid off, making it more cost effective in the long run
  • No monthly car payments once the loan is paid off
  • No mileage restrictions
View Inventory
  • Potential for lower monthly payments
  • Maintenance costs may be included in lease
  • You can drive a new car every 2 years
  • You’ll always have the latest, updated vehicle
  • Lower up-front costs
View New Inventory
Buying vs. Leasing a Vehicle
  • Down payment may be more costly
  • Monthly payments are typically higher
  • Maintenance costs are your responsibility
  • Vehicle value depreciates quickly
  • Potential hassle to sell the vehicle later on
Ask A Buying Question
  • You’re responsible for damages and wear
  • Restriction on miles you can put on the car
  • Early lease termination can be expensive
  • You don’t own the vehicle
Ask A Leasing Question

Learn More About Leasing or Buying a Car from Graff Bay City

At Graff Bay City we’re here to help you throughout the entire process of buying or leasing a car, truck, SUV, or crossover. We are dedicated to going above and beyond to give you the best dealership experience possible. If you have any questions about whether buying or leasing is better for your individual needs, give us a call at (989) 684-4411. We’re happy to answer any of your questions.

You can also find more information on how to buy a car or how to lease a car in the menu on the left of this page. It’s our goal to provide you with thorough information on the buying process and leasing process so that you can be confident in your vehicle purchase decision. If you’re ready to start shopping for your vehicle, check out our inventory online. We offer a vast selection of new Chevrolet and used cars, trucks, and SUVs to choose from. Don’t see what you’re looking for? No problem! Simply visit our Find Me a Vehicle page and we’ll do our best to locate exactly what you want. Hank Graff Bay City is located at 3636 Wilder Road, Bay City, MI 48706, and we are happy to serve all of our neighboring communities including Pinconning, Saginaw, Frankenmuth, Mt. Morris, and more!