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When you are in the market for a new or used Sierra in Kansas City, you have a couple of different options. You can either obtain financing to buy the car or lease it from the dealership. There are many advantages to either choice, and making this decision depends on your unique needs and wants in a new car. Here are some of the important factors to think about when deciding whether to buy or lease your new car. Monthly Payments If cost is your primary determining factor, then choosing to lease a vehicle might be the way to go. When you finance a vehicle, you are buying it for the entire purchase price. Leasing a car means that you are only paying for the difference between the current price and the expected value of the vehicle after the lease term is up. This means that if the car you want is priced at $30,000 and the expected value of the vehicle when the term of the lease is up is $15,000, your monthly payments will be based on the remaining $15,000 rather than the entire $30,000. Many car dealerships will offer additional promotional lease offers in an effort to get new cars off the lot. Although the monthly payments may be higher when you choose to finance a vehicle, there is an advantage here too: You own the car and can make modifications to it as you need or want to. Drive Something New To some people, financing a vehicle means committing to drive the vehicle for the next several years. Buying a car often means that people are so concerned about getting their “money’s worth” that they have to drive the car until it stops running. This is not the case with lease options. At the end of your lease term, you can bring the car back in and get something else with no questions asked. Just make sure that if you do choose to lease your vehicle that you are always bringing it back in great condition. Credit Considerations Another consideration you need to think strongly about when deciding whether to buy or lease your next vehicle is your credit. The higher your credit rating, the less risky you appear on paper to potential lenders. Leasing a vehicle removes some of the flexibility that a lender has since there is no Annual Percentage Rate (APR) on these loans. On the other hand, with traditional loans, the lender can raise or lower the APR of a loan depending on certain risk factors. As a result, regular auto loans may be easier to get if your credit is less than perfect, while you might need to have impeccable credit to lease a vehicle. Mileage Limitations Leasing a vehicle might be a better idea for those who do not drive as often. Most lease agreements have a determined number of miles that you can drive the vehicle before the lender charges an additional per mile rate tacked on at the end of the lease. This can get expensive if you are driving more than the typical 10,000 to 12,000 miles that is normal with lease agreements. When you are financing a vehicle, you can drive it as much as you want. Talk to Professionals There are many reasons to consider financing over leasing when you are looking for a new Sierra in Kansas City, but there are also many advantages to leasing that you might not have considered. You might be able to save money with one over the other. The important thing to do is to talk to a vehicle professional to help you determine what will be best for you and your situation. Robert Brogden Buick GMC Robert Brogden Buick GMC in Olathe serves Kansas City and St. Joseph, MO GMC and Buick customers with new cars, used cars, parts, and service in Kansas. Visit our page on http://www.robertbrogden.com/ to see our page today!
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