Finance Center
Buying vs Leasing.
Not sure whether buying or leasing is right for you? We've broken down everything you need to know so you can make the most informed decision for your budget and lifestyle.
Lower Monthly Payments
Leasing typically costs less per month
Full Ownership
Buying means the vehicle is 100% yours
Flexible Terms
Choose the option that fits your life
Expert Finance Team
We'll help you decide what's best
1
Understand the DifferenceBuy = own it. Lease = use it.
2
Review the DetailsCosts, ownership, mileage & more
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Talk to Our Finance TeamWe'll walk you through your options
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Drive Home HappyOn terms that work for your budget
What You Need to Know
Key differences between buying and leasing a vehicle
| Topic | Buying | Leasing |
|---|---|---|
| Who Owns It? | Whether you pay cash or finance, the vehicle is yours. If financing, you must meet the lender's requirements — timely payments and any required down payment. Miss those and the lender can repossess. | You do not own the vehicle when you lease. You're paying for the use of it — the finance institution owns it. This is typically why monthly payments are lower with a lease. |
| Upfront Costs | If financing, the lender will likely require a down payment. You can use trade-in equity to offset this. The amount depends on lender requirements and your credit score. | Leases often require no down payment — typically just the first month's payment, a security deposit, an acquisition fee, and taxes. Paying more upfront will lower your monthly payment. |
| Future Value | Your vehicle is worth whatever the market will bear when you sell it. Protect your investment with regular factory-authorized maintenance. | In most leases you don't end up owning the vehicle, so resale isn't your concern — that's the finance institution's job. Exceeding mileage limits or wear-and-tear guidelines can cost you extra at turn-in. |
| End of Payments | Once you've paid off your contract, the vehicle is 100% yours. The lender will issue a Lien Release confirming full ownership. | Most customers return the vehicle at lease-end. Others purchase it during or at the end of the term, or trade it in early. Ask our finance team to set up your lease exactly how you want it. |
| Best Vehicles | Not applicable — the financing structure doesn't change based on the model chosen. | The best vehicles to lease are those that hold their value well after the lease term. Lower depreciation means lower monthly payments. Ask our team which models make the most sense to lease right now. |