Given the current financial climate, we sometimes get customers asking us which is better? Should you lease a car, or buy one? Given the current state of the economy and the supply chain issues, you may be much better off to lease a car than to buy one.
Under normal circumstances, yes, it definitely makes more sense to buy a car than to lease one, as you are spending, say, $45,000 to buy a car paid over three years, vs paying $15,000 (depreciation) over three years to lease a car. At the end of loan, you own the car of course. At the end of the lease, you have to give the car back.
Why it makes more sense now to lease than to buy is that you are very likely to OVERPAY for a new car. The prices for them are at an all time high. In fact, most dealherships are now adding $10,000+ dollars onto the sticker price of most cars just because of the demand, and for no other reason. You are paying more for product demand, and not for product. Therefore it makes more sense to lease, and not get taken to the cleaners!
No matter what you drive, come in and have us check out your brakes and wiper blade for the upcoming summer of heavy rains, which we always get from time to time in Vermont. If you live in Essex, Burlington, South Burlington, Colchester, Winooski, Williston, Shelburne and anywhere in the State of Vermont be sure to contact Handy’s Service Center for all your auto repair needs!