The Difference between Buying and Leasing

Many Winter Haven, FL drivers in search of a new car often find themselves in the same predicament – should they buy or lease a new FIAT vehicle? Costs aside, it’s all a matter of priorities. Here are some of the differences between buying and leasing a car, along with the benefits and drawbacks of each from your trusted auto experts here at FIAT of Winter Haven.

Leasing a FIAT Vehicle

Leasing a car is a lot like leasing an apartment – you don’t own it, but you get to use it for a pre-agreed upon amount of time. Some of the advantages of leasing include:

  • Driving a better car for less money
  • Paying lower sales tax
  • Lower repair costs
  • Lower monthly payments with a low – or no – down payment

The disadvantages of leasing include:

  • Your mileage is typically limited to 12,000 miles per year
  • Leasing is more expensive than buying in the long run
  • Excessive wear and tear charges can add a nasty surprise when your lease is finally up

Buying a Car

When you purchase a vehicle, it’s yours for as long as you decide to keep it. Some of the perks of buying a FIAT vehicle include:

  • You can modify the car as you please
  • It is more economical over the long term
  • You can drive it as much as you like
  • You have the flexibility of selling it whenever you want

Drawbacks of buying a car include:

  • Monthly payments are higher
  • Once the warranty expires, you are responsible for the repair costs

In a nut shell, buying gets you more car for less money over the long run. If you are interested in buying a new car, visit FIAT of Winter Haven today!