WHY LEASE | NEWTOWN SQUARE, PA

If you are ready for a new vehicle in your life, leasing can be a convenient and beneficial financing option. If you've never leased before, here's a look at how it works and what to expect.  

Most car shoppers choose to pay for their car by taking out a loan and then making monthly payments, plus interest, until the price is paid in full. When you lease a vehicle, you will also make monthly payments. However, you do not have to pay for the full value of the car. In essence, you will only be covering the projected depreciation of the car while you drive it.

A lot of lease contracts come with mileage restrictions, which means leased vehicles are better suited to people who drive in cities or who don't drive very often. The lower cost paired with this fact makes a leased vehicle an excellent "special occasion" car; it's a nice vehicle to take out on date nights rather than a family-friendly minivan focused solely on functionality.

If you have always wanted to drive something bigger or more luxurious, leasing is a great way to do that. Since lease payments are only based on a portion of the vehicle's value, the monthly payments will be lower than what they would be through a loan. Because of this, you may find you have a more room in your budget to get the deluxe SUV or luxury car you've always wanted.

Another benefit to leasing is the short contract term. Many new car loans have a term of 60 months, or even longer. Lease contracts, on the other hand, typically last 24-36 months. When the lease has ended, you bring the car back to the dealership and you can start the process over again with your next new vehicle. This means you will always get to enjoy the latest technology and the most advanced safety features. It also takes the stress out of having to negotiate for a trade-in.

If you have any questions, or if you would like to start the lease process, come visit us at Hill Buick GMC and we will help you find the ideal vehicle for your lifestyle.