Should I Buy or Lease a Car?

Are you in the market for a new car but unsure, “Should I buy or lease a car?” It’s a common dilemma; we’re here to help you make the right choice. At Todd Maserati of Danbury, we understand that every New Milford individual’s situation is unique, and there isn’t a one-size-fits-all answer. That’s why we’ve created this guide to provide valuable insights into the pros and cons of leasing vs. buying. 

Leasing vs. Buying: What’s the Difference? 

Before delving into the details, let’s clarify the basic distinction between leasing vs. buying: 

• Buying: When you buy a car, you take ownership of it and make monthly payments until the loan is paid off. Once you’ve paid off the loan, the car is yours to keep or sell.
• Leasing: When you lease a car, you rent it for a predetermined period, typically two to three years. During this time, you make monthly payments to the dealership for vehicle use. At the end of the lease term, you can return the car or have the option to buy it.

Should I Buy or Lease a Car? 

To help you make an informed decision, consider the following factors:

Financial Flexibility:

• Leasing: Lower monthly payments and minimal upfront costs.
• Buying: Higher upfront costs, but the car is an asset and can be sold or traded in.

Vehicle Ownership

• Leasing: You don’t own the car but can drive a new vehicle every few years.
• Buying: You own the car, allowing you to modify, customize, or sell it.

Mileage and Usage

• Leasing: Mileage restrictions apply, typically between 10,000 to 15,000 miles per year. Exceeding the limit may result in additional fees.
• Buying: No mileage restrictions. You can drive as much as you want without worrying about penalties.

Maintenance and Repairs

• Leasing: Most lease terms fall within the manufacturer’s warranty, covering major repairs. Routine maintenance is still your responsibility.
• Buying: You’re responsible for all maintenance and repair costs, although you can choose where to service your vehicle.

Discover Whether Buying or Leasing is Right for You at Todd Maserati of Danbury

At Todd Maserati of Danbury, our knowledgeable team is here to guide you through the process and help you determine whether buying or leasing is the right choice. We offer various financing options and lease deals, ensuring you find the perfect fit for your budget and Trumbull lifestyle. Explore our inventory and take a test drive in Danbury, near Stamford.