Buy vs Lease near Cleveland, OH

When you're in the market for a new ride, one of the first things you'll have to decide is whether to buy or lease your next set of wheels. Regardless of where you stand on the financial spectrum, both avenues provide benefits, so we at Genesis of Brunswick would like to take a bit of time to explain the differences. If you have any questions after reading this overview, don't hesitate to contact us.

Buying

We'll kick things off with buying, as it's typically the most common route individuals take to get behind the wheel of their dream cars. When you purchase, you'll be committing to a long-term agreement that can last up to eight years. On top of that, you'll be responsible for coming up with a down payment and will have to contribute to its sticker price in monthly installments that add interest. While you'll end up spending more than the retail price in the end, you will eventually become the sole owner of your car, which is what draws so many people to this agreement type in the first place. But, one thing to keep in mind is that you'll be the one in charge of the maintenance required with aging rides.

Leasing

On the other side of the fence, leasing is a bit more flexible in nature, which is beneficial to drivers who like to change things up more often. To start, this method of automotive acquisition is similar to borrowing, which means you won't become the owner of whatever vehicle strikes your fancy. While this drawback might be too much for some individuals, others will like that contracts only last between two to four years, providing the opportunity to upgrade your set of wheels to something with the latest technologies and features far more frequently. As an added bonus, your monthly rate will simply reflect the depreciation that occurs and you won't be on the hook for a down payment. Last but not least, since you'll be switching up your ride on a regular basis, the long-term costs of maintaining a vehicle will be mitigated. Our Finance Department can tell you more!

Is Buying or Leasing Right for Me?

Now that you know more about the avenues available to you, it's time to make a final decision. If you're already adamant about a specific model on our lot and know you want to keep it for the long haul, it's likely buying will work for you. However, you'll end up spending more money in the short-term, so keep that in mind if your finances are vulnerable. Leasing is a great choice for folks who either like being in the latest and greatest vehicles or who want to save cash for now. It's also a worthwhile consideration if you want to test drive a car for a few years before deciding to purchase since you'll be able to pay the difference to make it yours for good with leasing.

We've got even more details to walk you through regarding whether to buy vs lease near Cleveland, OH, so call Genesis of Brunswick whenever you have the opportunity during our accommodating busines hours.

  1. Genesis of Brunswick

    2961 Center Rd
    Brunswick, OH 44212

    • Sales: (330) 267-3096
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  • Contact our Sales Department at: (330) 267-3096
  • Monday9:00AM-8:00PM
  • Tuesday9:00AM-7:00PM
  • Wednesday9:00AM-7:00PM
  • Thursday9:00AM-8:00PM
  • Friday9:00AM-6:00PM
  • Saturday9:00AM-6:00PM
  • SundayClosed