Benefits of Leasing a Car

When you choose to lease a car rather than buy it outright, you’re paying to drive it for a set period of time rather than paying towards ownership. Many Livonia drivers choose to lease because it costs less upfront than financing, which requires a sizable down payment. Both leasing and financing offer unique benefits, and the right path for you depends on your unique driving needs and financial situation. Join the Gordon Chevrolet, Inc. finance center for a breakdown of how to lease a car, the benefits of leasing a car vs. financing, and what you should know before leasing a car.

How to Lease a Car

Typically, you will enter a lease agreement through your dealership. Here’s what comes next:

• Depending on your lease agreement, you may be required to pay an upfront fee.
• As with financing, you’ll make monthly payments for the duration of the term.
• When the lease term is up, simply head back to your dealership and return the vehicle.
• Be aware that you may owe additional fees to your dealership or lender at lease-end.
• At this point, you have the option to “buy out” your lease or lease a new vehicle.

Benefits of Leasing a Car vs. Financing a Car

More than anything, deciding whether to lease a car or finance comes down to personal preference. You should consider leasing if you value the latest tech upgrades and the experience of driving a new car. Compare financing vs. leasing benefits for a car, below:

Leasing Benefits

• Lower monthly payments
• Lower upfront fee
• New-car experience

Financing Benefits

• Freedom to sell the car or take advantage of its trade-in value 
• No more monthly car payments after your loan is paid off
• No mileage restrictions
• Opportunity to build equity

What Should I Know Before Leasing a Car?

You know about the benefits of leasing a car, but what should you watch out for if you do go that route? Here’s what you need to know before leasing a car in Canton:

• You will owe a fee if you exceed mileage limits or otherwise violate the lease agreement.

• The lease agreement will specify what parts and services are under warranty.
• The lease will specify that all service be performed by certified Chevrolet technicians at a Plymouth-area dealership.
• Leasing benefits often include a variety of covered repairs and maintenance, but be sure to check your lease agreement to see what you’ll be asked to lay for.
• If you return the car with undue damage, you will be financially responsible for any necessary repairs.

Save With Gordon Chevrolet Lease Specials in Garden City!

Still weighing the benefits of leasing a car vs. financing? Our experienced team of auto finance professionals is here to answer your car-buying questions and make sure you have the knowledge you need before leasing a car. Find your next vehicle in our online model showroom, and then see how much you can save with a lease deal at Gordon Chevrolet, Inc..