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One of the first questions that shoppers ask themselves at Frank Boucher Volkswagen is, “Should I buy or lease my next car?” When deciding between buying vs. leasing, both options have plenty of benefits. However, you might find that one option fits better with your financial goals and driving preferences. One driver in Kenosha may prefer the lower costs of a lease, while another in Lake Geneva might prefer the long-term savings of a loan plan. The choice is ultimately up to you, but the team at Frank Boucher Volkswagen is here to help you make the best option for your unique wants and needs.
Whether you choose a Volkswagen Tiguan lease or you opt to buy a new Atlas in Racine, our goal is to keep the payments affordable while ensuring that you choose an option to fit both your driving preferences and financial goals.
We’re here to help you make the right decision every step of the way.
As you explore buying vs. leasing a car in Racine, leasing offers a bit more flexibility. It is also the lower-cost option, which is often why some will choose it over buying.
Depending on the terms you choose, most leases will only last for about three years. You can determine how long you want your lease as well as how many miles you plan to drive each year. As such, it provides the opportunity for Wisconsin drivers to frequently upgrade – no strings attached.
Future Value: Since you’re not the owner of the vehicle, you don’t have to stress about depreciation. However, you would be responsible for excessive wear and tear or mileage above and beyond the terms of the lease, which can result in penalty fees.
Financing is the most common option for Racine drivers. The biggest appeal to buying your car is the total ownership that you’ll enjoy. Not only does this allow you to drive and customize your car as much as you’d like, but you’ll also enjoy greater long-term savings if you’re ready for the commitment!
Here are some things to consider about a loan with VW Finance:
Future Value: While there will be depreciation over time, there are preventative maintenance services that can help to keep your vehicle at a good value. Additionally, since you are the owner, you can choose to sell your vehicle.
| Factors | Leasing | Financing |
|---|---|---|
| Monthly Payments | Typically lower than financing | Typically higher, but leads to ownership |
| Down Payment | May be lower or none required | Often requires a down payment |
| Vehicle Ownership | You don't own the car; must return or buy the vehicle at lease-end | You own the car once the loan is paid off |
| Mileage limits | Usually includes mileage limits with potential fees for exceeding them | No mileage restrictions |
| Customization | Restrictions may apply due to lease terms | Full customization possible |
| Maintenance Coverage | May be covered under warranty for the lease term | Owner is responsible for maintenance after warranty expires |
| Long-Term Cost | Can be cost-effective for those who prefer driving a newer car more frequently | Typically more cost-effective over time if you keep the vehicle long-term |
| Upgrade Flexibility | Provides an easy way to drive a new car every few years | Requires selling or trading in to upgrade |
| Equity | Payments go toward use of the vehicle but do not build equity | Builds equity as payments are made |
| End of Term | Options to return, lease a new vehicle, or purchase the leased car | No more payments once the loan is paid off |
| Early Termination | May have fees for ending a lease early | Can sell or trade in the car at any time, though loan balance must be covered |
Searching for ‘auto leasing near me’ but have questions? Want to explore the various terms available for auto financing? At Frank Boucher Volkswagen of Racine, we have friendly staff members who can talk to you about your options. We’ll ask questions about your budget, how many miles you typically drive in a year, and more. These will allow us to help you determine whether WV leasing or buying is the right move for you.
You can contact us by email or online with questions. You can also stop at the dealership in Racine to have a chat with us in person. While you’re here, you might as well get behind the wheel of a few of the latest VW models, too. We’d love to help you find the Volkswagen to fit your lifestyle!
