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Blog Category: Auto Finance

Leasing vs. Buying a New Car

2013 Mercedes-Benz SL

One of the most hotly debated subjects in auto ownership is leasing vs. buying. Both have advantages and disadvantages so the answer can be different for people in different situations. One isn’t always better than the other.

Leasing Advantages:

Low payments for new cars - Leasing offers the opportunity to drive a new car all the time. With 3 year terms you can return the vehicle and exchange for a new one just as it’s starting to age.  Leasing often makes driving a luxury car like a Mercedes or Jaguar more attainable because many banks have limits on how much they will loan for vehicles.

Our 2011 Auto Buying Experience Study Reveals the Best & Worst Aspects of Auto Buying

4,000,000 buyers every month.  On average, every month, approximately 1,000,000 new and 3,000,000 used autos are sold in the United States.  Americans have had a love affair with cars since the first ones were produced over 100 years ago.  They not only are essential to our everyday lives, and the efficient operation of our economy, but they are an expression of our personality, and often times just plain fun to drive.

Critical Auto Buying Mistake: Only 44% of New Buyers Plan To Get Pre-Approved

According to a recent study conducted by the folks at Kelley Blue Book, only 44% of prospective new car buyers plan to get pre-approved for a loan before buying.  While that isn’t overly surprising, it remains a critical mistake…one that can cost the consumer a great deal of money and time.

If you are a sub prime buyer looking for a GM vehicle, you may be out of luck.

Recent news came out last week that GM was looking to develop more relationships with national lenders to help facilitate auto loans for their dealers. A few years ago GM sold it's interest in GMAC, which acted as it's primary lending source to consumers for new and used GM vehicles.