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3801 SE Federal Highway, Stuart, FL  34997
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Should You Buy, Lease or Pay Cash?

BUYING vs. LEASING

Need help determining whether buying or leasing your car will better fit your lifestyle? No problem! We put together this comprehensive chart to make it easy for you to compare the two in any situation.

Buying Leasing
Monthly Payments

When financing a vehicle, your payments are calculated off total purchase price. Payment value over a 6-7 year loan is typically more than a lease payment.

The Lease Value in which your payment is determined is lower than an amount that would be traditionally if financed. Depending on your credit and lease program, Lease payments are commonly lower than Loan payments.

Up-Front Costs

Up-Front Costs include a down payment, taxes, registration and other fees. Most customers put 20% down upfront to lower payment, but it is not mandatory. In some cases Financing Bank may require a down payment to allow you to finance vehicle. Get pre-qualified today for more details.

Up-Front Costs include a down payment, taxes, registration and other fees. Most customers decide to pay these fees upfront to lower payment, but it is not mandatory. In some cases Leasing Bank may require a down payment to allow you to lease vehicle. Get pre-qualified today for more details.

Customizing

Since the vehicle is yours, you can customize it however you would like. (i.e. adding a lift kit to truck, custom sound system, etc...)

When you Lease, you have some limitations to customization you can make on vehicle since you are technically not the owner (leasing bank is owner). In modifying certain items on vehicle that could run risk of voiding warranty… it is always best to check with Lessor before making customizations.

Mileage

Buying a vehicle means you have no limit of how many miles you may drive.

In lease agreements you are limited to mileage you can put on vehicle. Most mileage terms are between 10,000-15,000 mile per year maybe more (check with Dealership for exact mileage terms available). You may have to pay over mileage fees if you exceed contract terms; it is always best to see dealer & discuss options if you think you might come close to exceeding miles within lease contract.

End Of Term

After paying off vehicle loan, you own vehicle. Some customers enjoy owning a vehicle with no payments after loan is paid off. Owners may want to consider cost of ownership on older vehicles vs. payment on a replacement vehicle. (In some cases new vehicle payment can be less than cost of maintenance and repairs of existing vehicle with no monthly payment).

At End of Lease although you do not own vehicle, you have options. You can buy out vehicle or turn vehicle in back to leasing bank. Sometime Manufacture will encourage you to turn lease in early and lease again with special promotions. There are Lease Return processes that need to be followed, see dealer for details.

Early Termination Of Loan Or Lease

You have the options to sell/trade your vehicle at anytime. However, depending on the value of your vehicle and total depreciation, it is best to see dealer to value your trade when considering buying a replacement vehicle.

In a situation where you want to terminate your lease early, you may inure an early-termination fee. We encourage you to visit the dealership to discuss the possibility of avoiding these types of fees.

Ownership

After paying the vehicle off you own the vehicle, receive the title and get to keep it for as long as you want.

Technically you are not the owner of your leased vehicle at the end of your contract term. However you do have the option to buy your vehicle based on guaranteed value written in your lease contract.

Vehicle Return

When replacing your vehicle, you choose whom or where you sell/trade your vehicle.

At end of lease you have options to review. You can turn in vehicle & walk away. You can purchase your vehicle. In some cases the dealership may buy vehicle for dealer inventory. (please note: vehicle under goes an inspection to determine if any excess wear and term charges will be incurred, see Lease turn in for more details)

Future Value

Depending on Market Value, most vehicles depreciate over time.

If you choose at end of lease to turn in vehicle and walk away, leasing bank is responsible for depreciated value. On the flip side, if you decide to purchase vehicle at end of lease, the future value at which you can buy vehicle for is stated in Lease contract the day you lease.

Wear And Tear

Excess Wear and Tear will decrease the value of any vehicle when you go to sell or trade in.

It is possible that you incur Excess Wear and Tear charges. Lease vehicle under goes an inspection to determine if there are any excess wear and term charges, see Lease turn in for more details. You also have option to purchase coverage plan to cover excess wear and tear; see dealership for all options.