Lease or Buy? What to Consider

When considering whether to buy or lease a new vehicle, there are several factors to take into account. Each option has its own set of advantages and disadvantages, so it's important to weigh them carefully before making a decision! Your local Cadillac dealership, Bill DeLuca Cadillac, is ready to take you through the differences between leasing and buying! 

Pros & Cons of Buying 

When you buy a new car, you own it outright and have the freedom to modify or sell it as you see fit. You also have the potential to build equity in the vehicle over time, which can be valuable if you plan to keep it for several years. However, buying a new car typically requires a larger down payment and higher monthly payments than leasing, and you are responsible for all maintenance and repairs.

Pros & Cons of Leasing

On the other hand, leasing a new car allows you to drive a brand-new vehicle with lower monthly payments and little to no down payment. Lease agreements typically come with manufacturer warranties that cover most repairs and maintenance, so you don't have to worry about unexpected expenses. However, you don't own the vehicle and are limited in terms of modifications or customizations. 

Making a Decision 

Ultimately, the decision between buying or leasing a new vehicle comes down to personal preferences and financial situations. If you prioritize ownership and long-term value, buying may be the better option. If you prefer lower monthly payments and the ability to drive a new car every few years, leasing may be the way to go. It's important to carefully consider your needs and budget before making a decision. Need help figuring out what is best for you? Contact our finance team today! 

Learn More About Vehicle Leasing at Bill DeLuca Cadillac Today! 

Bill DeLuca Cadillac's friendly financing team is here to help you figure out what is best for you financially! Our financing department offers many resources to assist you in making this decision. For more information on our leasing and financing options, you can visit us at 339 N Main St Andover, MA 01810 or give us a call at (978) 475-6200! If you would like to get a head start you can fill out a finance application online at any time! We look forward to helping our Andover, Methuen, Haverhill, Lawrence and Lowell area customers with all of their car financing needs!