Learn the Benefits of Buying vs Leasing in New London, CT

Lease vs. Loan: Which is Best for You?

The best payment plan will vary, depending on your lifestyle and budget, but both leasing and buying are excellent options. At Secor Auto Group, we serve New London, CT, and beyond by offering affordable leases and loans and providing a streamlined shopping experience. You can discover the best option by weighing the benefits of leases and loans.

Five Benefits of Leasing

If you're interested in keeping your monthly payments low, leasing a new vehicle near East Lyme, CT, could be perfect for you. Leasing a vehicle is similar to renting an apartment. You are not responsible for paying the entire cost of the vehicle. Instead, the primary cost of leasing is paying for the vehicle's depreciation during your term, leading to more affordable monthly payments.

1. Enjoy Latest Technology: Since it's less expensive to lease a new vehicle, you may discover you can afford more cutting-edge technologies and features. With access to state-of-the-art connectivity and driver assistance features, you can get more for your money and add more entertainment and peace of mind to your daily driving around Groton, CT.
2. Warranty Coverage: When leasing a new vehicle near Norwich, CT, you can enjoy the convenience and confidence that comes with warranty coverage. New vehicle and powertrain warranties will likely last for most, if not all, of your term, covering essential components.
3. Excellent Mechanical Condition: If you lease a new car, you can enjoy a vehicle in a pristine mechanical condition that only needs basic routine maintenance, letting you keep your service costs to a minimum.
4. Lower Monthly Payments: Having lower monthly payments can go a long way towards staying comfortably within your budget while enjoying a new car.
5. Easily Transition to Your Next Car: Instead of trying to find a buyer for your vehicle when you want to move onto a new vehicle, you can simply return your lease car to us and select the next vehicle you want to drive.

Five Benefits of Buying

Financing a vehicle is a smart way to take advantage of long-term benefits. When you own the vehicle, you will have more freedom in how you drive and own it. You can expect higher monthly payments to begin with, but you can enjoy savings when you pay off your loan.

1. Drive as Much as You Like: Since you own the vehicle, you can drive as much as you like without worrying about mileage restrictions or fees. Buying a vehicle could be the right choice if you have a long commute or plan to drive long distances.
2. Build Equity: Buying a vehicle makes it possible to build equity if your monthly payments outpace the depreciation of the vehicle. Letting you sell the vehicle sooner while paying off the loan or making it possible to refinance.
3. Modify Your Subaru: Do you want to paint your vehicle a new color or add accessories? Buying a vehicle lets you modify it however you choose and personalize it to match your preferences.
4. High Resale Value: You can use the resale value of your vehicle to put towards your next purchase. With a high enough resale value, you may be able to afford a higher trim level or configuration for a new vehicle while keeping your costs low.
5. No End-of-Service Fees: There are no end-of-service fees, so you won't have to worry about traveling with a pet or wear and tear adding up when you finish owning the vehicle.

Discover the Right Payment Plan for You

Our finance center serves Westerly, RI, and surrounding areas by providing helping drivers find affordable rates for leases and loans. Contact us today to get started.