Should I Lease or Buy My Vehicle?

When it comes time to buy your new Volkswagen, you’ll have to make a choice regarding your payments. Of course, you can just buy the car outright. Most of us, however, will be choosing between leasing or financing. There are pros and cons to both solutions, and often it comes down to personal preference. That being said, there are certainly particular situations when one is a more viable decision than the other.

Leasing

PROS

  • Lower monthly payments
  • No loan required
  • Easy upgrades at the end of term
  • Simple termination
  • Lower maintenance cost - the vehicle will likely be under warranty for the life of the lease

CONS

  • The more expensive option in the long-term
  • You do not own the vehicle at the end of term (though you have the option of purchasing)
  • Limited mileage
  • No freedom with modifications

Financing

PROS

  • You become the owner of your vehicle
  • More financially responsible for the long-term
  • No limitations on mileage
  • Can trade-in upon the purchase of the next car
  • Can modify the vehicle as you wish

CONS

  • The vehicle is often worth less than the remaining loan after a certain point
  • Typically higher monthly payments than a lease agreement
  • More complicated upgrades to the next vehicle
  • Responsible for all maintenance outside the scope of your warranty

We implore you to weigh your options and make a decision based on sound reason. Buying a Volkswagen is a purchase that should be made with care. When you choose the right payment option for your situation, it can make the time spent with your VW that much more enjoyable.

Should you have any questions or concerns regarding leasing, buying, or anything else for that matter, feel free to get in touch with us at Southland Volkswagen. Our expert team of financiers will be more than happy to walk you through the whole process and ensure that you make an informed decision regarding your purchase.