Buy vs Lease near Pittsburgh, PA
Buy vs Lease near Pittsburgh, PA
Buying and leasing are similar, but these two methods of acquiring a new set of wheels work differently in regard to the end result. Fortunately, there are several roads you can take, and our staff at Jim Shorkey North Hills Chevrolet can teach you all about each path. Continue reading this guide to learn more.
Buying
The most common method of getting at the helm of a new Chevrolet model is to purchase it. While you’re free to pay out a lump sum of cash to acquire a factory-fresh automobile, it’s more cost-effective to finance a set of wheels. Financing can last between two and seven years. If you want to generate cheaper monthly installments, get the longest term available. Pittsburgh area drivers who want to minimize the time it takes to pay off a vehicle’s total balance should get the shortest agreement. Once you’ve finished making all the contributions to your ride, you’ll receive the title. From there, you can sell or trade the auto at your leisure. That means the ride can be used as an asset when you need to reduce the retail price of a sedan, SUV, pickup truck, or minivan.
Leasing
Some motorists may find leasing a Chevrolet vehicle easier than buying it. When you lease an automobile, your payments won’t go toward ownership. In other words, your installments will cover the depreciated value of the ride. Therefore, the payments produced by a lease are less expensive. Under a lease agreement, you’ll be borrowing the vessel for two to four years. It all depends on the terms and conditions you agreed to. As you get closer to your contract's expiration date, our Finance Department will contact you with various options. If you like commuting along Interstate 376 in the leased model, you can change to a finance plan. You can also change your arrangement, get another vehicle, or end your agreement.
Which Is Better?
Buying and leasing provide different advantages, so one is not better than the other. Purchasing a new vehicle is often helpful for families who need a reliable ride for long travels in the Liberty Tunnel and beyond. Additionally, owning a new model is beneficial for drivers who plan on living in Pittsburgh for a while. If you’re an adventurous person, leasing may be a better alternative. This way, you won’t have to worry about making payments for an extended period of time. The lower payments can provide a more cost-efficient budget, too. A lease contract also has a plethora of options, just in case you change your mind. To begin your journey at our location, get pre-approved online. It only takes a few minutes to acquire eligibility from our system.
