Buy vs Lease in Middletown, NY

Have you had your eyes on one of the Volkswagen models that are available here at Middletown Volkswagen? If so, you may already be familiar with the fact that you have two financing agreements that you can opt for—buying or leasing. Both methods lead to the same end result, which is leaving our location in Middletown with the keys to an ID.4, Jetta, or Atlas in hand. However, they also differ in a few ways, which we plan to cover in-depth below!

Buying

Buying a car involves paying for one of our Volkswagen vehicles’ sticker prices, and that can be done at point-of-purchase or through a financing agreement. Opting in for the latter route involves paying off its value via monthly reimbursements for a course of about four to seven years, though some term options offer 96-month routes. To offset some of the upfront costs associated with purchasing, some customers will offer a monetary down payment or compensation in the form of a vehicle trade-in. After the car is paid off, the paper title will be mailed directly to you, crowning you its official owner.

Leasing

Unlike buying, leasing involves the ability to drive a model for around two to three years in exchange for monthly payments towards its estimated depreciation rate. These figures are often notably lower than what you would be expected to pay if you had elected to buy the car instead, and much of these numbers can be determined by the term length and annual mileage parameters you choose to abide by. If you aren’t sure about your yearly driving habits, staff members of our Finance Department will ask you relevant questions such as how often you drive on New York State Route 17. When the contract is over, you’re able to end the arrangement, buy out the car, or trade it in and lease a factory-fresh Volkswagen car.

Which Should I Choose?

When mulling over which agreement works best for you, we advise you to examine where your priorities lie when it pertains to vehicle ownership. Use self-inquiry to determine if the prospect of showing off a new model at Fancher-Davidge Park every few years is attractive to you. In that case, looking forward to trading in the car you’ve been driving often in exchange for a vehicle with that new-car smell can be afforded by leasing. It’s also a cheaper alternative in the short-term, due to the nature of smaller monthly payments. If you’re one to drive long distances and find the idea of one day owning the car ideal, buying it would be an ideal route to take. Don’t fret if you need help making the choice! Contact us if you’re having difficulty weighing out these options.