Is it time for a new vehicle? Maybe your current car has some wear and tear, or perhaps you’re looking to trade in for an upgraded model. Either way, one of the first decisions to consider is whether you want to buy or lease.
The choice between buying or leasing a vehicle can be tough. On one hand, leasing often means lower monthly payments in a newer model year. On the other hand, buying a car offers more flexibility, and you own an asset in the end. Ultimately, the choice comes down to your priorities and needs.
Since the pandemic, the car industry has changed in many ways. With more workers going remote and driving less, shoppers are reassessing what they need from their vehicles.
Compare the pros and cons of leasing vs. buying below to see which is right for you.