Choosing Whether to Buy a Car on Loan or Lease

Settling on the decision to buy a car or lease can be a difficult task. At Lithia Hyundai of Fresno, we look at each of them separately to get more insight to be able to make better decisions. Not sure where you fit with your unique financial landscape? Allow our finance experts to guide you in the right direction throughout the Fresno area.

Buying a car on loan gives you ownership of the car once you finish paying the loan and since you will eventually own the vehicle, it gives you the right to customize it to your liking. Buying a car on credit also allows you to trade in the car should you choose to. When leasing, you are also free to drive the car for years there is no limit on the allowed mileage.

A lease allows you to pay less monthly payments and should you need a new car to impress a client probably; it's easy to get a car change. With a lease, you don't have to worry about car repair charges as that's not your responsibility. Finally, a lease comes with a warranty which comes in handy should the car develop a major mechanical problem.

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