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Choosing to Buy or to Lease from Coleman Buick GMC: How Important is Ownership?

For many LAWRENCEVILLE shoppers, trying to choose between leasing or buying a vehicle can be an incredibly difficult decision. The the fact is that buying and leasing both include relative advantages and disadvantages; something to consider when you are shopping is how much the idea of "ownership" matters for you. For some shoppers, being the exclusive owner of a vehicle is hugely important; among other things, ownership means being able to customize your car if you would like, and you'll only answer to yourself if there's any sort of accident or damage occurs. For other shoppers, however, leasing might be more attractive than owning. Leasing allows drivers to simply get a new car every couple of years when a lease is up, and many lessees have the ability to drive nicer cars than they might otherwise be able to afford, as upfront charges are normally lower than purchasing a vehicle.

The Price of Leasing a New Buick or GMC: Does it Save You Money?

The price of leasing a car or truck compared to the price of buying one is not a black-and-white issue; it all relies on how long you plan to keep your vehicle for. Studies on car ownership, leasing and depreciation recommend a three-year lease as a financially sound stretch of time. From a brief standpoint, leasing a car for a span of three years makes for a sensible decision financially; down payments on leases are low, your monthly expenses will be less than an auto loan payment, and you'll typically not have to worry about repair fees. The largest cost linked with paying for a leased car will likely be insurance, which is considerably more substantial for a lease than a car you own. If you buy a vehicle, your payments will be much greater up-front, but when you've owned it for 10 years or so, it will have likely been paid off, your insurance will typically be lower, and you also have the opportunity of selling for a percentage of its original value.

So what does this mean? As a near future solution, leasing is a good solution to cut the expenses of owning a car, but in the long run, purchasing a car could save you money. Consequently, many individuals opt to enter into one or two lease periods to save funds before purchasing a car. However, you will find people who lease cars all of their lives and have great success with the process, just like there are those who always buy outright. Ultimately, opting to buy or to lease is really a matter of personal preference.

What You Need to do During Your Buick, GMC Lease Return

As your existing lease draws towards a close, you might think about your next steps for you as well as your vehicle. The conclusion of a lease term requires you to have your vehicle inspected and returned to any Buick, GMC dealership, but based on how you would like to complete the task, there could be more to it than that. You will have three basic options for ending your lease: You can buyout your lease, you are able to return your lease, or you can return your lease and select another vehicle. Check our several of our FAQs to answer any concerns you might have regarding the end of your lease.

• Do I have to return my lease to Coleman Buick GMC?

You'll be able to return your leased vehicle to any Buick, GMC dealer, regardless of where you leased it from originally.

• What if I need to end my lease early?

Should you wish to end your lease before its scheduled termination, it is easy to buyout your lease anytime, or you can trade-in your vehicle whenever you want. If you want to turn your vehicle in earlier, you will only be responsible for any remaining payments on your lease.

• Should I buyout my lease?

Choosing to buyout your lease may be a great option depending on your situation. It is best to compare to your alternative lease-end possibilities to ensure that you make the right choice. Typically, the end-of-lease buyout price will just be any residual value within your lease contract; it's up to you to determine if the residual value is a reasonable cost for you to pay. It's important to consider whether you would pay that price to get a different used car of a similar mileage and equipment. If you're unclear about the way to answer this, go ahead and call us any time at Sales 609-482-3469 to talk to a leasing specialist.

• What is the method for turning my lease in?

When you'd like to turn in your lease, your vehicle needs to be examined by a certified agent. Once this has been done, turning in your lease will just require that you complete some paperwork about the vehicle.

• When do I need to have my vehicle inspected?

It's recommended that you have your car or truck inspected within the last two months of your lease. This will make sure that you have sufficient time to schedule repairs on the vehicle, if there is any required maintenance.

• Why can't my dealer execute vehicle inspection?

Only authorized agents can complete end-of-lease inspections, but if you're able to return your vehicle to Coleman Buick GMC at the end of your lease, we will contact an authorized agent who will perform the inspection.

• How long will the inspection take?

The inspection of your car should take about an hour, unless there is an excess amount of damage to your vehicle.

• Do I need to be present through the end-of-lease inspection?

While it's not a requirement that you be present for the inspection of the vehicle, we do strongly suggest it. If you're at the vehicle inspection, you are able to better understand the assessment results, as well as any charges that may apply. In addition to this, you will have to sign off on the vehicle review that the inspector produces; you will also get a copy of the report at this time.

Still have questions? Call us at Sales 609-482-3469, contact us online , or come see us in person to understand more about the end of your lease.