Should I Buy or Lease?

Searching for a new car in Grand Island? Rather than feeling as excited as you should be, you may be feeling weighed down by the question of “Should I buy or lease?”

There are numerous benefits that accompany each option, and your final choice will ultimately depend on your driving and budgetary needs. Learn more in our guide to lease vs. buying, below



Advantages of Buying

  • Free from Mileage Restrictions: Do you frequently drive from Hastings to Lexington and back? If you tend to rack up miles quickly, you’ll likely want to consider buying as it is free of mileage restrictions.
  • You’re the Sole Owner: When you buy a vehicle, it is yours to own. This means you can do with it anything you please – whether that’s custom modifications, mechanical changes, or something else.
  • Sell When You Please: When you’re not locked into a lease agreement, you can sell your vehicle whenever the time is right.
  • Financing Options: You may find that financing a car is more straightforward than leasing a car. You’ll also have the option of refinancing in the future, lowering your interest rate and monthly payment amount.
  • Less Cost Over Time: Initially, buying a car is more expensive than leasing. Over time, however, it becomes less expensive to own as you start paying off your loan.
handing keys to couple


Advantages of Leasing

  • Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
  • Less Sales Tax: Depending on where you live, your sales tax may be significantly lowered when leasing, and you might only be required to pay tax on your down payment and monthly payments.
  • Easy Trade-In Process: At your lease end, the trade-in process couldn’t be simpler. After settling any remaining fees at your Kearney dealership, all you’ll need to do is choose your next vehicle, sign a new agreement, and head home to Holdrege in style!
  • Optimal Warranty Coverage: When you lease a vehicle, it remains covered under warranty so long as you don’t exceed your mileage limits. This means that any service issue that pops up will be covered, eliminating a great deal of stress for you.
  • Freedom to Explore Different Options: When leasing vehicles, you can get behind the wheel of a new model year with the latest entertainment and safety features more often.
  • High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.

Explore Lease vs. Buying at Midway Auto Dealerships

Whether lease vs. buying your next new car is the right option for you, Midway Auto Dealerships is here when you’re ready to take the next steps. Contact us to arrange a test drive, or get in touch with our friendly finance team to learn more about our new vehicle specials before you fill out our secure online finance application.

Explore more of our helpful car buying tips such as “what does MSRP mean?” We can also help you learn if you can lease a used car and more!

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