Buy vs. Lease Your New Vehicle | Asheville NC| Hendersonville, Waynesville & Buncombe County

Buying Vs. Leasing Your New Vehicle In Asheville, NC

If you're looking to upgrade to a newer vehicle, but aren't sure if you'd rather buy or lease, we're here to help you make your decision. At Harry's on the Hill, we know that car-buying is something that requires a lot of thought and sometimes can be confusing. That's why we've put together a few points outlining the various benefits of buying or leasing. As usual, if you have any more questions, our team here would be more than happy to help.

Why Lease a Vehicle?

Freedom of Choice

Freedom and flexibility are two of the main benefits of leasing a vehicle. When leasing, customers have the option to drive a new vehicle every few years if they'd like and postpone the purchase decision, without the inconvenience of having to sell or trade the vehicle.

Flexibility

The average leasing terms range between 24 and 60 months. With shorter terms, this enables you to make affordable payments. Plus, you're able to choose your mileage. Lessees are normally given 12,000 or 15,000 miles per year, but if you need a higher mileage limit, you're given the choice to purchase more miles at signing.

Lower Payments

Because you're only purchasing the right to drive a vehicle for a specific period of time, your financial responsibility and your monthly payments may be significantly reduced. Also, if you are not ready to put down a large down payment, then leasing may be better for you, as there are leasing options that require $0 down.

Hazard-Free Driving

Because most leases last for two to three years, your vehicle is generally covered with warranty protection for as long as you have it.

True Convenience

When a lease ends, you simply return your vehicle and pay any fees remaining (such as for excess mileage or wear and tear) and taxes. If you've decided that you'd like to keep your vehicle at lease-end, you can also take the opportunity to purchase it at a predetermined price. In either case, there's no need for you to sell it or trade it in unless it benefits you.

Why Buy a Vehicle?

Ownership

Ownership is the most obvious benefit of buying your next vehicle instead of leasing. If you're looking to keep your vehicle for an extended time, or for as long as possible, then buying is the better option for you. Plus, choosing to buy rather than lease gives you the option to customize your vehicle to match your lifestyle.

No Mileage Limitation

When you finance your vehicle, you are responsible for the miles you travel and don't have any restrictions in that area like you would with leasing. Leasing requires that you calculate in advance how many miles you will drive each year. Ownership gives you the freedom to drive as much and as far as you desire without collecting fees.

Payment Flexibility

When buying a vehicle, you can choose to finance or buy outright with cash. If you buy with cash, you become the owner of the vehicle right away and don't have to worry about monthly payments. If you choose to purchase a vehicle using financing, you have an extended period of time with a loan to pay off the vehicle. For the best outcome when financing, we strongly recommend that you acquire the most affordable, dependable and competitive rates possible, like what we offer here at Harry's on the Hill.

True Freedom

When you complete your payment schedule, in typically four to six years, you own your vehicle. You can keep driving it for as long as you like without any further payments, or choose to sell or trade at any time. Once you own the vehicle, you can also potentially place the funds you would've spent on the loan towards other things, like your savings.

If you happen to have any more questions or would like to get to know us more, feel free to come visit us at 819 Patton Ave, Asheville, NC 28806. We look forward to serving customers from Hendersonville, Waynesville and Buncombe County.