What are the advantages of buying or leasing your next vehicle?

If you’re into cars, one advantage of living in Orange County is the variety of models that you’ll find at the dealers of the Beach Boulevard of Cars in Huntington Beach. You can buy anything from snazzy speedsters and family-friendly SUVs to inexpensive domestic starter vehicles and the most advanced foreign electrics. You may choose to buy or lease your vehicle, depending on which makes better sense for your budget and ownership style.

What are the Benefits of Buying?

Buying stands out as the default option for most drivers because of these benefits.

• The vehicle becomes your own, which allows you to do whatever you want to your vehicle or take it anywhere. If you like personalizing your factory model with useful accessories, a custom paint job, or additional bling, buying is your only option for achieving your goal. You also face no mileage and location restrictions: you can drive your car to Mexico or Canada, or ship it abroad for your international vacation.
• Monthly payments disappear when you’ve paid off all the installments. The average auto loan lasts 72 months, so if you like driving your vehicle for longer, you can drive it without paying additional usage fees. If you keep up with scheduled maintenance, your modern model can typically last for 200,000 or 300,000 miles.
• You can sell your car when you need extra cash or want to put money down for a new purchase. But if you’re considering the latter, it’s better to trade your old vehicle in when you buy because it lowers what you have to pay, and you can conveniently drop off your old model when you pick up the new one.

What are the Advantages of Leasing?

Leasing, which requires you to pay a monthly fee for a set period to drive the vehicle, also has its advantages.

• Your monthly payments are lower because you’re not paying for your model’s total value but are only responsible for the depreciation plus finance fees as you use it. You may be able to afford a higher trim level or a better model. At the end of the lease, you can turn the car in and walk away, buy it, or get a new model with a new lease contract.
• If you lease the vehicle for your business, you may receive a significant tax advantage, such as being able to deduct the lease payment, depending on how much you drive the car for your business.
• You always drive a vehicle that is only a few years old, which means it has the latest safety and high-tech features, is in excellent condition, and remains under the manufacturer’s new car warranty, which can include free scheduled maintenance and roadside assistance.

Discover Your Options

The best place to discover whether buying or leasing gives you the best advantage is with the finance team at any of the dealers at the Beach Boulevard of Cars. If you have a specific model in mind and are willing to share your budget, they can provide realistic estimates of your monthly payments