Want a GMC truck or GMC SUV, but don’t know whether you should finance or lease? Below are the pros and cons to financing and leasing, so that you can decide which option is best for you. When you pick which option is best for you, our Finance Manager can assist you further.
Is financing or leasing better?
Whether you choose financing or leasing, there are pros and cons to each. Our guide below shows the differences between the two, so you can better understand what your options are.
Pros Of Leasing A GMC
One of the biggest benefits of leasing a GMC SUV or GMC truck in Highland, Indiana is that once your lease is over, you can upgrade to the current year model and have no depreciation concerns. Each lease agreement comes with a warranty that protects your new GMC and most maintenance costs. Another benefit of leasing a GMC, is that your lease payments are lower than a financing payment. If you fall in love with your GMC SUV or GMC truck, at the end of your lease you can purchase the vehicle!
- Upgrade To Newest Model
- No Depreciation Concerns
- Comes With Maintenance Warranty
- Lower Monthly Payments
- Can Purchase Vehicle At End Of Lease
Cons Of Leasing A GMC
Depending on your lease agreement, there can be fees for excessive wear & tear, excessive mileage, and for early lease termination. Despite there being potential fees, they can be avoided by simply taking proper care of your vehicle, limiting how far you drive, and not canceling you lease agreement early. Another con to consider is that you will always owe a monthly payment unless you decide to purchase and it has been paid off.
- Excessive Mileage Penalties
- Fees For Excessive Wear & Tear
- Fees For Early Lease Termination
- Monthly Payments
Pros Of Financing a GMC
The biggest benefit of financing a GMC is that once it is paid off, it is completely yours and you will no longer have a monthly payment. With financing a vehicle, you are free to modify and customize your vehicle as much as you want. Financing a GMC also allows you to sell the car at any time and there are no mileage fees.
- Ownership Of Car
- No Mileage Limits
- Can Sell Car Anytime
- Customize and Modify
Cons Of Financing a GMC
If you do choose to finance your next GMC truck or SUV, you should consider some of the cons. For starters, you will ave to factor-in depreciation and accept that the future resale value is unpredictable. As mentioned before, that lease payments are fairly low, which means that financing payments tend to be higher; that being said, once you pay off the vehicle, you will not have a payment anymore unlike a lease. Another factor to consider it that all brand-new GMC vehicle come with a warranty, but after the warranty runs out then you are responsible for maintenance expenses.
- Unpredicted Resale Value
- Higher Monthly Payment
- Post Warranty Expenses
Finance Or Lease Your Next GMC At Your Local GMC Dealership
Lease a GMC or finance a GMC in Highland, Indiana at Circle Buick GMC, which is conveniently located at:
For Illinois, Circle Buick GMC is your GMC dealer near Chicago, Portage, Oak Lawn, New Lenox, Joliet, Aurora, Bedford Park, Cicero, Calumet City, Lansing, and surrounding areas.
For Indiana, Circle Buick GMC is your GMC dealership near Hammond, Schererville, Crown Point, Merrillville, Cedar Lake, Valparaiso, Gary, Portage, St John, and surrounding areas.