Vehicle Buying vs. Leasing Guide to Compare Ownership Options

You know you need a new vehicle. The question is, do you want to buy or lease the vehicle? At Graff Chevrolet-okemos, Inc., we are here to help guide you through the big decisions when it comes to getting a new car, truck, SUV, or crossover. Our friendly and knowledgeable sales team understand that a new vehicle is a big investment and we value the importance of making the right decision for your personal needs. That’s why we try to give you as much information as possible on each ownership option, so you can feel comfortable with your choice of buying or leasing a vehicle from Hank Graff Okemos.

If you are still evaluating what option would be best for you, our team of experts at Graff Chevrolet-okemos, Inc. is here to help. Along with our experienced staff at your service, we have composed a complete guide to buying and leasing facts, pros, and cons for your use. As you decide whether to buy or lease a vehicle, here are a few things to consider:

  • The type of vehicle you are interested in
  • Your monthly budget
  • Your driving habits
  • Your daily commute
  • Vehicle maintenance costs

Along with these points, you’ll want to understand the benefits and disadvantages of both buying and leasing. Below you can see our Guide to Buying vs. Leasing to help you decide on whether you should buy or lease your next vehicle. Take a look at each option and discover which will best fit your lifestyle. Everyone is unique, and so are the vehicles they drive. At Graff Chevrolet Okemos we are here to make sure your vehicle is the perfect fit for you! If you have questions about our leasing process or our buying process, visit our How to Buy or How to Lease pages on the left hand side of this page. You can also contact our expert staff at 517-253-9330.

Which Is the Best Option for You? Buying or Leasing?

Buying Facts

  • Drive only 1 vehicle for 60+ months
  • Monthly payments vary depending on down payment and APR

  • Maintenance is taken care of by owner or warranty
  • No limit on number of miles you can drive
  • You pay for the full cost of the vehicle
  • Buying a car builds your equity
  • Trade-in or sell your vehicle anytime

Leasing Facts

  • Drive up to 2.5 vehicles over 60 months
  • Monthly payments will vary based on down payment and APR
  • Lease periods can range from 24-72 months
  • Set mileage allowance
  • Monthly lease price is based on percentage of vehicle cost & length of lease
  • Minimal maintenance is required

Buying Pros vs. Leasing Pros

Buying Pros

  • Customize or modify the vehicle as you see fit
  • No monthly car payments once your loan is paid off
  • No mileage limitations
  • The vehicle is yours after loan is paid off making it more cost effective in the long run for some

Leasing Pros

  • May offer lower monthly payments
  • Maintenance costs potentially included in lease
  • Drive a new car every 2 years
  • Have the most updated vehicle model on the market
  • Lower up-front costs

Buying Cons vs. Leasing Cons

Buying Cons

  • Down payment could be more expensive
  • Maintenance costs are your responsibility
  • Monthly payments are commonly higher
  • Could be a hassle to sell the vehicle at a later time
  • Vehicle value depreciates quickly

Leasing Cons

  • You’re responsible for damages or wear
  • Early lease termination can be costly
  • You don’t own the vehicle
  • Restriction on miles you can put on the car

Learn More Buying and Leasing a Vehicle from Hank Graff in Okemos, MI

To learn more about buying or leasing your next vehicle from Graff Okemos, access the helpful resources on the left hand side of this page that explain each process in detail! You can even begin your shopping at home on our Inventory page which features new inventory daily. If you are looking for a specific vehicle, visit our find me a vehicle page and one of our sales staff will contact you to help you find that perfect vehicle.

At Hank Graff Chevrolet in Okemos, MI we want to make sure you are comfortable with the vehicle buying and leasing process. Investing in a new vehicle is a serious decision, and we want you to be confident in the choice you make. When you choose your next car, truck, SUV, or crossover, we want you to have the best dealership experience possible, so our expert staff takes pride in our knowledge and experience in both the buying and leasing processes. Graff Chevrolet Okemos is located at 1748 W Grand River Okemos, MI. We are just miles from Michigan State University and are happy to serve the Okemos area as well as Williamston, Haslett, East Lansing, Mason, and more. Contact our team online or give us a call with any of your leasing or buying questions at (517) 349-8300.

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Graff Chevrolet-okemos, Inc. 42.7188, -84.4126.