Sales: (267) 984-4658
Service: (267) 984-4047
 

The #1 Buick GMC Volume Sales Leader in Pennsylvania

Should You Lease or Buy A Buick GMC?

While there may be several reasons why people consider leasing a car or truck from Faulkner Buick GMC Trevose, three of the most common are: They enjoy driving a new vehicle every few years, they use the vehicle for business or they want the lower monthly payments typical of a lease.

Is Leasing a Buick GMC Less Expensive than Buying?

While the price of the vehicle may not be less expensive, the monthly payments for leased vehicles are typically lower than the monthly payments when you buy. This is because you are only paying for the part of the car or truck that you are using. In other words, you are paying for the depreciation on the vehicle over the duration of the lease. When you buy, your monthly payments reflect the entire purchase price of the vehicle. Because of this, people who choose to lease can often times lease a more expensive vehicle and have the same monthly payments as if they bought a less expensive vehicle.

What Other Costs are Associated with Leasing?

Similar to renting an apartment, costs associated with leasing a Buick GMC typically include first month’s payment plus a security deposit that is refundable. Often gap insurance, which covers the difference in price between the cars value and what your insurance company will pay if the car should be damaged or stolen, is also required. There may also be a mileage fee if you drive over the annual mileage limit set in your lease agreement. These upfront costs are usually not required when buying a vehicle. Other costs such as a down payment, sales tax (on the full purchase price), loan interest, and miscellaneous government fees usually come into play when buying.

What Happens at the End of My Buick GMC Lease?

When your lease expires, you pretty much return the car or truck to the dealership and walk away or discuss the option to purchase the vehicle from the dealership. Sometimes there may be end of lease costs for things like excessive mileage or scratches and dents that are considered beyond normal if you do turn the Buick GMC back in to Faulkner Buick GMC. Additionally, when turning in a lease you usually don’t retain the same value as if you were trading in a car you purchased, and you can’t sell it to a third party without purchasing the balance of the value of the car. In other words, the trade in value of a vehicle you buy is usually worth more and you always have the option to sell your car or truck to a third party.

Answer these simple questions. Then click on the “Calculate” button to help you decide which option is best for you.

  This is me This might be me This is not me
I always drive over 15,000 miles a year.
I like to customize my car by tinting windows, adding pinstripes, sound system, etc.
I usually get emotionally attached to my car.
I love to see those payments dwindle to nothing.
I've got to have (real) new car smell.
I like the security of driving a car under warranty.
I usually choose a car that I can't afford.
My current car is more than 4 years old.
I am willing to trade ownership for low, monthly payments.
My company reimburses me for car expenses.
I like to do my own repair work.
I typically drive less than 12,000 miles a year.

Faulkner Buick GMC is a Philadelphia area Buick, GMC and dealer