Lease vs. Buy FAQs
What is the main difference between leasing and buying a car?
When you lease a car in California, you don't technically own it -- rather, you're entering into a contract that allows you to use and enjoy the car for a predetermined period. On the other hand, when you buy a car, it's legally yours as soon as you pay off any GM financing arrangements.
How does a monthly payment differ between leasing and buying?
Monthly lease payments are usually lower than loan payments when buying. This is because new Chevy lease payments are calculated based on the vehicle's expected depreciation, not the total purchase price.
When should I consider leasing a car?
If you enjoy driving a new car every few years, can stay within the mileage limits without issue and want lower monthly payments, leasing might be the best option for you.
When should I consider buying a car?
Buying could be ideal if you plan on keeping the car for a long time or you like the idea of eventually having no car payments. It may also be the preferable option if you don’t want to be restricted by the annual milage limits that are a common clause on lease agreements.
What are my options when a lease is expired?
At lease end, you have the option to return the car, upgrade to a new Chevy lease near Sacramento or buy out your expired lease and own your current ride outright.
Chevy Lease & GM Financing Near Me
Navigating through the maze of leasing and buying a car can seem challenging, which is why we encourage you to contact Sanborn Chevrolet in Lodi and let our experts walk you through the process. We're committed to giving you a clear understanding of your options and deliver the best customer experience we can. Whether you plan to sign a Traverse lease or buy a Silverado near Sacramento, our team is ready to help you every step of the way!