When deciding on a new vehicle, choosing whether to buy vs. lease can be challenging. It varies from individual to individual, depending on the advantages you seek. As your automotive experts, we’re here to assist you in weighing the advantages and differences of buying vs. leasing a vehicle. Keep reading to discover which option best suits you, and visit our Chevrolet dealer to start your journey!
Buying vs. Leasing: What’s the Difference?
As a driver, do you find yourself wanting to switch up your car every year or two? If the answer is yes, then leasing a vehicle may be a better-suited option than buying. If you’re looking to invest in your vehicle and build equity, purchasing a vehicle may be your better option. Below you’ll find the key differences between buying vs. leasing to help you make an informed decision.
Buying
Leasing
Ownership You own your vehicle for as long as you wish on your own terms
Leasing You are under a lease contract with terms for a designated amount of time
Loan payments you will pay off the vehicle over time
Lease payments Lower monthly payments for the vehicle’s depreciation and lower maintenance/service costs (Most automotive brands include the maintenance for 2-3 years)
Reselling When you decide you want a new car, you will have to either trade-in or sell it
Trading In At the end of your lease, you simply return it to the dealer without any worry of reselling
Investing Even though your vehicle’s value will depreciate, you’ll still have equity and cash value
Renting Although the value of the vehicle you lease has no future effect on you, you will have no equity or investment in it
Unlimited Mileage Though more miles equals lower trade-in value, when you own your vehicle, there is no cap on the number of miles you can drive
Limited Mileage A majority of leases limit the number of miles you can drive, and often, you have to pay for surpassing the limit
Ability to Customize Since you own your car, you can customize any part of your vehicle on your own terms
Lease Restrictions Having to return your leased vehicle in the same condition limits you from modifying your car in any way
Final Payments Once you’ve paid off your car loan, you have no further payments to worry about
Renewing Payments At the end of your lease, you can choose to purchase the car or decide on a new car to lease
The Choice is Yours
Leasing a car is a lot like renting an apartment; buying a car is a serious commitment and investment of your money. There are distinct downsides to both buying vs. leasing a vehicle, but there are also plenty of advantages to both processes. There is no incorrect choice when it comes to buying vs. leasing. It all depends on which process works best for you. Are you still conflicted on whether to buy vs. lease your next vehicle? Speak with our team, and we’ll work with you individually to find the best option for you.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $7,620 due at signing. Cash due at signing includes $7,000 capitalized cost reduction and first month's lease payment of $620. Actual net capitalized cost $64,190. Total payments equal $22,320. At lease end, purchase for $46,935, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $7,620 due at signing. Cash due at signing includes $7,000 capitalized cost reduction and first month's lease payment of $620. Actual net capitalized cost $64,190. Total payments equal $22,320. At lease end, purchase for $46,935, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $3,180 due at signing. Cash due at signing includes $2,800 capitalized cost reduction and first month's lease payment of $380. Actual net capitalized cost $26,390. Total payments equal $13,680. At lease end, purchase for $15,895, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $3,180 due at signing. Cash due at signing includes $2,800 capitalized cost reduction and first month's lease payment of $380. Actual net capitalized cost $26,390. Total payments equal $13,680. At lease end, purchase for $15,895, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $6,491 due at signing. Cash due at signing includes $5,900 capitalized cost reduction and first month's lease payment of $591. Actual net capitalized cost $54,290. Total payments equal $21,276. At lease end, purchase for $38,616, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $6,491 due at signing. Cash due at signing includes $5,900 capitalized cost reduction and first month's lease payment of $591. Actual net capitalized cost $54,290. Total payments equal $21,276. At lease end, purchase for $38,616, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $6,251 due at signing. Cash due at signing includes $5,700 capitalized cost reduction and first month's lease payment of $551. Actual net capitalized cost $52,490. Total payments equal $19,836. At lease end, purchase for $38,143, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $6,251 due at signing. Cash due at signing includes $5,700 capitalized cost reduction and first month's lease payment of $551. Actual net capitalized cost $52,490. Total payments equal $19,836. At lease end, purchase for $38,143, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $5,041 due at signing. Cash due at signing includes $4,500 capitalized cost reduction and first month's lease payment of $541. Actual net capitalized cost $41,690. Total payments equal $19,476. At lease end, purchase for $28,713, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee and $695 lease acquisition fee. Available to well-qualified lessees on approved credit by GM Financial. Not all lessees may qualify. Offer assumes 10% down payment and $5,041 due at signing. Cash due at signing includes $4,500 capitalized cost reduction and first month's lease payment of $541. Actual net capitalized cost $41,690. Total payments equal $19,476. At lease end, purchase for $28,713, plus any official fees and taxes related to the scheduled termination and excess wear and use. Please see dealer for details. Offer expires 6/3/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
All prices exclude estimated taxes, title, licensing, and some dealer fees. Payments include $499 dealer fee. Available to well-qualified buyers. Not all buyers may qualify. Offer assumes 0% down payment. at 7.9% APR for 72 months. Please see dealer for details. Offer expires on 5/31/2024 12:00:00 AM.
Additional rebates may be available to reduce your price further. Tax, title, license, $499 doc fee and freight (unless itemized above) are extra. Not available with special finance or lease offers. MPG estimates on this website are EPA estimates; your actual mileage may vary. For used vehicles, MPG estimates are EPA estimates for the vehicle when it was new. The EPA periodically modifies its MPG calculation methodology; all MPG estimates are based on the methodology in effect when the vehicles were new (please see the Fuel Economy portion of the EPA’s website for details, including a MPG recalculation tool). The vehicle photo displayed may be an example only. Vehicle Photos may not match exact vehicle. Though we make every effort to provide you the most accurate, up-to-date information, occasionally, one or more vehicles on this website may be incorrect due to typographical, photographic, occasional human or technical error. We reserve the right to refuse to honor any incorrect internet prices as we cannot account for the occasional human or technical error. Please confirm vehicle price with Dealership. See Dealership for details. 5/5/2024
The Manufacturer's Suggested Retail Price excludes tax, title, license, dealer fees and optional equipment. Dealer sets final price.
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