What is the Difference Between Buying and Leasing?
Once you find the vehicle of your dreams at Pohanka Automotive Group, you must determine whether you would like to buy or lease your set of wheels. Whether you have previously taken one of these paths or this is your first time, we are here to lay out the benefits of both options in front of you. This way, you can make a decision that positively impacts your daily driving needs and financial restrictions. Then, you can drop by one of our various Finance Departments to finish up the paperwork!
While purchasing your vehicle for its full value is the most common choice, leasing is growing in popularity more and more as time passes. That is because it allows you to experience the latest automotive advancements the moment that they hit the market. The reason is that you will essentially borrowing your model from us for a set period of time and mileage. Since terms generally last anywhere from two to four years, you will be able to upgrade as soon as your contract comes to a close. All that you have to do is let us know your average annual mileage, and we will create a monthly rate that is based on the depreciation of the vehicle. Then, if you don’t decide to upgrade, you can always purchase the vehicle for its remaining value to take advantage of lower monthly payments. Or, you can always hand in the keys and explore other options!
On the other side of the automotive acquisition spectrum is your ability to purchase your prospective vehicle for its full sticker price. This is perfect for drivers that want to see a return on their investment, because after your contract is complete, you will have achieved full ownership. The best part is that terms last between four and seven years, which means that you will be able to call it yours in no time at all. Then, when you do decide it is time to upgrade, you will have the opportunity to use your vehicle as a trade-in to lower the cost of your next set of wheels. If this sounds like the right plan for you, head down to our location for a one-on-one consultation with one of our expert representatives. Before that, you can receive your go-head from home when you fill out our online 30-Second Pre-Approval form. Then, you can complete the Finance Application to get some paperwork out of the way ahead of time.
One thing that both of these avenues share in common is your ability to secure one of the fantastic models from Pohanka Automotive Group. We have several different locations that house Hyundai, Acura, Honda, Nissan, and many other top-notch manufacturers. If you don’t want to devote your entire weekend to walking up and down our rows of vehicles, you can get started by selecting the Search New dropdown at the top of your screen. Then, you can choose your preferred manufacturer, and look through the models that we currently have in stock. If you think you have found the vehicle that you would like to buy or lease, swing by our location and we will be happy to get started on your agreement!
So, what is the difference between buying and leasing? In short, one is for borrowing and the other is to achieve ownership! If you have any questions or concerns, be sure to contact us at Pohanka Automotive Group.