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Should I Lease or Buy?

Trying to determine if buying or leasing a car, truck, or SUV is best for you? Both options have their ups and their downs. It takes careful consideration to know which option is best for you financially. Hubler Automotive Group is here to help! Don't hesitate to contact our finance specialists with any questions you have when determining whether to lease or buy your next vehicle at one of our dealerships in the Indianapolis area

How are leasing and buying different?

Think of buying as paying for the whole car and leasing as only paying for the portion of the car you use. Normally, car lease payments are lower and for a shorter period of time than your payments would be if you bought a car. You won't be able to drive anywhere you want in your car, though, because lease terms do designate a mile limit. With that said, the number of miles allowed in a lease can be determined by you. In fact, you will have several options on vehicles, mileage, and lease term.

At the end of your lease, you won't be able to sell your car and must return it to the dealership. With car lease loyalty programs, at the end of your lease, there are cash incentives to bring in your current leased car and pick out a brand new one. A lot of the time, the payments on your new lease will be the same or even less, and you are driving a newer vehicle. Remember, it is always an option to buy the car outright once the lease is up.

You do not own a car while you're leasing it. You cannot customize it, and there are financial penalties for doing things that violate the lease terms. Think of it like renting an apartment versus buying a house. Your apartment is "yours" but within the parameters spelled out by your landlord. Whereas, a house you own can be customized and changed as you see fit. Furthermore, it's yours to sell when you're ready to move on to the next house, just like your car will be yours to sell if you decide to buy instead of lease.

What best describes your car needs?

The following is not a foolproof way to figure out whether you should lease or buy your next vehicle at Hubler Automotive Group, but it can act as a guide. 

  • I normally drive 10,000 to 12,000 miles a year. Lease
  • I always drive over 15,000 miles a year. Buy
  • I customize my car. Tinting windows, adding pinstripes, accessories, sound system, etc. Buy
  • I love the security of driving an under warranty car and want a new car every few years. Lease
  • I can get emotionally attached to my car and name it. Lease or Buy
  • I love to see those payments go away and keep my vehicle more that 5-6 years. Buy
  • I want to have that (real) new car smell all the time. Lease
  • I usually choose a car that I can't afford to buy. Lease
  • I am going to drive my car a long time and possibly give it to a family member. Buy
  • I am willing to trade ownership for lower monthly payments. Lease
  • My company reimburses me for car expenses. Lease or Buy
  • My vehicle is a work vehicle and may endure more than average wear and tear. Buy

A lot of additional information about leasing and buying is available in our Finance FAQ. If you're ready to find out more about buying or leasing a new or used vehicle from any of the Hubler Automotive Group dealerships in the Franklin, Bedford, Indianapolis, Shelbyville and Rushville, Indiana, area, call us at 888-221-5101 to get started. We can't wait to discuss all of your options with you and help you get behind the wheel of the car or truck of your dreams.