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 or lease a new or used vehicle. 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. Whether you buy or lease, and we want to provide you with all the information you need to make that decision confidently. For an overview look at the differences between buying and leasing, check out our comparison guide below! You'll find pros, cons, and facts about each option that can help you decide what to do. Before we get started, consider these factors:

Every vehicle owner has their own individual preferences and needs, and it's best to keep these considerations in mind while you go through the buying vs. leasing guide below. At the end of the day, it's you that will decide 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 friendly team, that works with new vehicle purchasers and leasers every day, would be happy to help guide you through the buying and leasing process when you're ready.

Which is the best option for you? Buying or Leasing

Buying vs. Leasing - Which Option is Better for You?
Facts About Buying and Leasing
Buying facts
  • 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
Leasing facts
  • 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
Facts About Buying and Leasing
Buying pros
  • 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
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Leasing pros
  • 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
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Facts About Buying and Leasing
Buying cons
  • 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
Leasing cons
  • 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

Start Shopping for Your Next Chevy at Graff in Bay City, MI

At Graff Chevrolet we're dedicated to going above and beyond to give you the best dealership experience possible. You can 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 and leasing processes so that you can be confident in your final vehicle purchase or lease decision. If you’re ready to start shopping for your vehicle, check out our inventory online or get pre-approved for vehicle financing online. We offer a vast selection of new and used Chevrolet cars, trucks, crossovers, and SUVs to choose from on our lot in Bay City, MI. Can’t find what you’re looking for? No worries! Visit our Find Me a Vehicle and we’ll work hard to find exactly what you’re looking for. We're located at 3636 Wilder Road, Bay City, MI 48706, and we are happy to serve all of our neighboring communities including Pinconning, Midland, Saginaw, Frankenmuth, Mt. Morris, and beyond!