Leasing vs. Buying at Your Chevy Dealership

Shopping for a new vehicle can be stressful, but it doesn’t have to be. When you purchase a car from your local Chevy dealership, you’ll get the best vehicle with amenities and features at an excellent price. Visiting the dealership in person is essential so you can see your top choices in person, learn about leasing vs. buying, and then purchase your new vehicle so you can take it home and enjoy an improved driving experience.

Leasing vs. Buying at Your Chevy Dealership

When purchasing a new vehicle, you have two options: leasing or buying. Both have advantages, and your choice ultimately depends on your budget, long-term needs, and preferences. To make the right decision, it’s important to know the differences between each and the benefits so that when it comes time to sign off on your new vehicle, you’ll feel confident about your new car and your personalized payment plan.

Leasing a New Chevy

When you lease a new vehicle, you’ll still have a monthly payment, but these payments are usually lower than they would be if you were to purchase your vehicle outright. A monthly leasing payment primarily covers vehicle depreciation.

The total cost of leasing a vehicle is less than the cost of purchasing one because you won’t have to pay interest over time. However, your car insurance payments may be higher with a lease. At the end of the lease, you can either walk away, lease another vehicle, or decide to purchase one.

Buying a New Chevy

If you want to buy a new Chevy, you can pay cash in full or incur a monthly payment with the financing plan. A financing payment includes the vehicle purchase cost, financing charges, taxes, and interest rates. If you choose to trade in your car for a new vehicle before you pay off the original one, you may experience resale depreciation.

What’s Required of You 

When you lease a vehicle, you’ll need a down payment and must account for vehicle sales tax. Other upfront costs may include your first month’s payment, an acquisition fee, a service fee, a refundable security deposit, and any costs related to optional chosen warranties, add-ons, or insurance options.

When you finance a vehicle, you’ll have to pay a down payment, sales tax, other related taxes and title fees, service fees, government or lender charges, your first month’s payment, non-refundable security deposit, and the cost of any warranties, add-ons, or insurance fees.

If you’re ready to invest in a new Chevy, you’ve already made a good decision. At our dealership, we have an impressive selection of new Chevy vehicles in stock, and once you find the one that’s right for you, our finance department will work with you to create the right financing or leasing plan based on your needs. Visit us today at Ewald Chevrolet in Oconomowoc, WI, to find your next new vehicle.

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