The Differences Between Buying and Leasing Your Next Vehicle

Everyone deserves a vehicle that matches their lifestyle. Our Oil City dealership is happy to help you find an option that gets you into the vehicle you want at the price you need. We can show you the benefits of leasing and financing, ensuring you can decide which suits your needs.

Financing allows you to buy the vehicle, drive it for as far as you want, and pay for its full value. Leasing only makes you pay for the vehicle's value during your lease period and gives you a convenient upgrade path.

We'll show you the differences between each option and help you decide if you should finance or lease your next vehicle.

Financing a Vehicle


Ownership

Auto financing near Reno, PA, or buying with cash, allows you to own the vehicle. If financing, you'll need to pay the full value of the vehicle based on the terms you set with our finance center. You can drive as far as you want and make any changes to the vehicle.

Initial Costs

A down payment will apply to the cost of the vehicle, lowering the amount of financing you'll need. Trading in your current vehicle can increase your down payment. Be sure to ask our team how your credit score can affect a down payment for your next vehicle.

Retained Value

Financing a vehicle allows you to sell it in the future. While you face the downside of depreciation, having a trade-in can increase your down payment. Keeping up with routine maintenance is important to maximizing the value and increasing the longevity of your vehicle.

Final Steps

There are no additional steps after finishing the contract and receiving the Lien Release form. Paying off your vehicle means it is entirely yours to drive, service, enjoy, and sell.

Leasing a Vehicle


Ownership

You do not own a leased vehicle. You pay to use the vehicle during your lease period. This style of ownership usually comes with lower monthly rates.

Initial Costs

Leases are more attractive to shoppers who want to minimize up-front costs. You usually don't need a down payment. Some leases require the first payment, a security deposit, and some fees. Our team is here to help you find attractive lease options near Franklin, PA.

Retained Value

You don't benefit from the value of a leased vehicle at the end of your lease term. You can purchase the vehicle at the end of your contract if the vehicle was an exact fit for your needs.

Final Steps

Our experts can help at the end of your lease period. Purchasing is only one option at the end of your lease. You can also return the vehicle to our dealership or choose another vehicle to lease. Keep mileage limits and wear-and-tear in mind to avoid any extra fees at the end of your lease.

What car to Lease

Leasing a car that retains more of its value could be a good idea. Less depreciation means you can keep your rates low.

Should I Buy or Lease?

Some questions can help you decide if you should finance or lease your next vehicle.

  • How many miles do I drive? Leasing has mileage limits. We can work with you to add to your limit, but exceeding it will add fees. Financing could be a better choice for long-distance drivers.
  • Do I want to modify my vehicle? You can only personalize your vehicle if you finance it. Changes to a leased vehicle could go against the leasing contract.
  • What do I want to do next? Buying and financing will allow you to sell your vehicle. Leasing offers various options once your contract ends. Knowing what path you want to take could help you decide which plan is right for your needs.

Feel free to contact our team whenever you need help finding a finance plan or leasing option from our new inventory.