Buy vs. Lease: Which Is Right for You?

Choosing between financing or leasing your next vehicle is a deeply personal decision. To help you determine which is right for you, here are some guiding questions to point you in the right direction:

• Do you drive over the average number of miles (+12,000 miles annually)? You should buy. Leasing comes with mileage restrictions, and there are fees per mile if you go over the limit.
• Do you want to avoid a large down payment? You should lease. Financing typically requires a large down payment to keep the monthly payments manageable.
• Do you crave the newest technology and have FOMO (fear of missing out) when new tech comes out? You should lease. Leasing offers shorter terms, and you can upgrade easily and more frequently to the newest models.
• Do you want your payments to go toward building equity? You should buy. When you finance a vehicle, you can build equity and use the vehicle's value to resell later on or drive payment-free once the loan is paid in full.

Benefits of Leasing

• Lower or no deposit
• Lower monthly payments
• Always drive a new vehicle
• Flexible terms starting as short as 24 months
• Easy returns or other end-of-lease options