What is Leasing?
Think of leasing as a long-term rental. You only pay for the portion of the vehicle's value that you use (depreciation) plus a rent charge. This typically results in a lower monthly payment than buying.
- Lower monthly payments
- Drive a new car every 2-3 years
- Always under factory warranty
What is Financing?
Financing is the traditional path to ownership. You take out a loan for the full value of the vehicle. Once you pay it off, you own it 100% free and clear, with no mileage limits or restrictions.
- You own the asset/equity
- No mileage restrictions
- Modify/customize as you like
Side-by-Side Comparison
| Feature | Leasing | Buying (Finance) |
|---|---|---|
| Ownership | You return the car at the end. | You own the car after payoff. |
| Up-Front Costs | Typically lower (First month + fees). | Typically higher (Down payment). |
| Monthly Payment | Lower (Pay for usage only). | Higher (Pay for entire value). |
| Mileage | Restricted (e.g. 12k/year). | Unlimited. |
| Wear & Tear | You may be charged for excess. | Lower resale value, but no fees. |
Can I Lease Used?
Yes! Leasing a Certified Pre-Owned (CPO) vehicle is a hidden gem in the auto industry. You get the lower price of a used car combined with the lower monthly payments of a lease.
View Certified InventoryThe "One-Pay" Lease
Have cash? Instead of buying, consider a One-Pay Lease. You pay all lease payments upfront in a single lump sum. It's cheaper than buying cash, and usually cheaper than a standard lease due to interest savings.
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