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801 W Avenue N San Angelo, TX 76903 Toll Free: (866) 220-5346 / Local: (325) 655-5631
For those who prefer to always drive the newest cars, leasing is a great option. Leasing is similar to financing and purchasing with a few differences. One of the biggest benefits to leasing is being able to drive a nicer car for a smaller monthly payment. You can also often lease a car with a smaller down payment, sometimes for as little as $0 down.
Some of the drawbacks of leasing include limited mileage and lack of equity. If you exceed the mileage restrictions, you could incur additional fees. You also do not gain any equity while making your lease payments.
If you prefer to own a car for as long as possible, then buying is usually the better option. One of the most satisfying aspects of buying a car is that once you pay off your loan, the car is yours—you can drive it as much as you want, make any modifications you want, and sell it whenever you want.
One downside to buying is that you will usually have a larger monthly payment. There is also no way to predict what your car will be worth when you are ready to sell it, which could be a problem if you are still making payments.
Here at Randall Mitsubishi, we can help you determine the best option for you, whether that is buying or leasing. Set up an appointment or come on down to our location for a test drive today!