Buy vs. Lease

Buy vs. Lease | Little Rock, AR | Owens Murphy Volkswagem

Buy vs. Lease | Little Rock, AR | Owens Murphy Volkswagen

Our Little Rock VW finance center serving Conway knows that buyers face a difficult decision once they decide on the perfect car: buy or lease? There are pros and cons to each one, all of which should be considered before making your decision. Factors like budget, how far you drive, and what you want to get out of your car in the future can all affect which option is the smart choice for you. We’ll break down the benefits and drawbacks of each one for you so you can make an educated decision when you come into the dealership.

Pros of Leasing

  • Generally lower monthly payments due to only paying for the vehicle’s depreciation as opposed to the vehicle itself
  • No hassle at lease-end: simply return it to the dealer and walk away, or use it to trade in for another new car
  • The future value of the vehicle is of no consequence to you
  • Opportunity to drive a new car every 2-3 years

Cons of Leasing

  • At the end of the term, anything the dealer determines excessive wear and tear must be covered out of pocket
  • Mileage limits can handicap drivers who want to take road trips or have long commutes to work–anything over the mileage limit will result in extra charges at lease-end
  • Ending the lease early will result in termination fees, so if you are unhappy with the car you are stuck with it until lease-end
  • Any parts added to the car must be taken off before returning to the dealership, and any residual damage from parts you added will cost you
car loan approved

Buy vs. Lease | Little Rock, AR | Owens Murphy Volkswagen

Pros of Buying

  • The vehicle is yours, and you can keep it as long as you wish
  • You own equity in the vehicle and can use it as needed, including paying off any remaining loan balance that you have after selling it
  • No mileage restrictions so you don’t have to worry about borrowing a friend’s car if you need to take a longer drive
  • Any wear and tear on the vehicle is yours to decide what to do with–no extra fees from the dealership
  • At the end of the term, there are no more payments and you’ve built credit to help pay for your next car
  • You may modify or customize the vehicle however you see fit

Cons of Buying

  • Loan payments are generally higher than lease payments
  • Selling or trading in your car is yours to deal with whenever you want to get rid of it
  • Depreciation negatively affects the future value of your car

No matter what option is right for you, our Little Rock dealer gives Conway area drivers a great selection of new VW models for sale, so you can make your decision knowing you have the perfect car for whatever you need.

Contact us today to speak to a financial representative with any further questions. We’re looking forward to hearing from you!