Why Buying a Used Car Could Be Better Than Leasing a New One

Posted: Monday, August 20th, 2018

Many car shoppers grapple with the decision of whether to lease or purchase a car. The answer ultimately comes down to what best suits your needs and your pocketbook. But for those of us working with a tight budget, buying a used car could be a better choice than leasing a new one.

Why Leasing is Attractive

Green Light Auto Credit Family happy with their new black sedanLeasing a vehicle is really just renting, and for shoppers who want a new car with all the bells and whistles, a lease provides more for your dollar than financing. You are essentially only paying for depreciation over the period of your lease, and as long as you don’t go over the mileage limit and keep the vehicle in good condition you can hand over the keys and walk away once the lease term is over.

Reasons to Buy a Used Car

Buying a used car is more affordable that buying or leasing a new vehicle. Most late model pre-owned vehicles include many of the features that you’ll find in a brand new car, and for budget conscious buyers, the price is right. Better yet, when you’ve paid off the car you own it, and if you want to replace it you can sell it or trade it in for an upgrade. The lower payments and the equity, which can be applied to the purchase of your next car, make buying a used vehicle a smart choice. For extra protection consider a certified pre-owned vehicle. These cars come with a manufacturer warranty and many other benefits that are more commonly only offered with a new car.

Let Green Light Auto Credit Put You Behind the Wheel of Your Next Car

The auto financing experts at Green Light Auto Credit can help you decide whether leasing a new car or buying a used vehicle is the right choice. We specialize in providing loans to drivers with bad credit and we’ll work with you to put together a finance package that’s the right fit for your budget. Give us a call at (800) 200-5551 if you have any questions or apply for financing online.