Buy vs. Lease at Frank Boucher Volkswagen of Racine in Racine WI

Should I Buy or Lease?

One of the first questions that shoppers ask themselves at Frank Boucher Volkswagen of Racine 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 of Racine is here to help you make the best option for your unique wants and needs.

Why Should I Consider Leasing?

When choosing between buying vs. leasing, a lease is the more flexible and lower-cost option. A lease typically only lasts for three years or so, and many Burlington drivers appreciate the opportunity to upgrade frequently with no strings attached. Here are some things to consider about a lease:

  • Ownership: The dealership or the lender maintains ownership of the car throughout the lease, and you are only paying for the use of the car during your contract. A lease functions similarly to a long-term rental agreement.
  • Up-Front Costs: Most leases require first month’s payment, a security deposit, an acquisition fee, and any other state fees and taxes. It’s common to not pay a down payment, but paying more upfront will lower your monthly costs.
  • Future Value: Because you don’t own the vehicle, you don’t have to worry about depreciation. However, you’ll be responsible for penalty fees if you incur excessive wear and tear or mileage.
  • End of Lease: At the end of your lease, you can simply return it back to the dealership. However, you can also switch your lease to a loan if you fall in love with your vehicle.

Why Should I Consider Financing?

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:

  • Ownership: When you finance a car, you are paying off the lender as you build equity. Eventually, you will have total ownership of the vehicle.
  • Up-Front Costs: You’ll generally need to pay a large down payment upfront, but this can vary from person to person. Sometimes you can use the trade-in value from your old car as the partial or full down payment.
  • Future Value: Because you’ll eventually own the car, you can also sell it in the future if you wish. The vehicle will depreciate over time, but good maintenance practices will keep the vehicle valuable.
  • End of Loan: Once you pay off your loan, it’s all yours. You’ll receive a lien release as proof of your payment, and that’s that!

Compare Buying vs. Leasing with Frank Boucher Volkswagen of Racine

So, should I buy or lease my vehicle? The choice is yours, but the team at Frank Boucher Volkswagen of Racine can help you weigh your options wisely. Don’t hesitate to contact us with any questions! You can also stop by our dealership in Racine to chat in person. We’d love to help you find your dream car.