The car buying process can be a stressful and time-consuming experience; finding a trustworthy dealership, assuring the vehicle’s price is in fact market value, and considering additional, often hidden, fees.
Let your Austin Asset team relieve you of these stresses by determining competitive prices across the local dealer market, providing greater transparency for surprise costs, and connecting you with our network of trusted dealers for both purchase and continuing maintenance needs.
When discussing the car buying process, we’re often met with a common question—to buy or to lease? Unfortunately, there isn’t a definitive answer. Buying or leasing a vehicle is a decision dependent entirely on your needs and preferences. Here are a few questions for you to ask yourself to help clarify the process:
How long will you keep the car?
Leases typically run two to four years, a great choice if you’d prefer to drive a new car every few years. If you’d prefer another option for equity, consider buying.
How large of a monthly payment can you afford?
When you buy a car, your payments are based on the total purchase price of that car. With leasing, however, your payments are based on the car’s expected decrease in value over the term of the lease (i.e., its depreciation). The lease payments may be low enough to put you behind the wheel of your dream car, without the need to place a down payment instead providing your first payment and a security deposit.
How will you treat the car?
Analyze your driving habits. A typical lease will include 12,000 to 15,000 miles per year. If you exceed this amount, you may have to pay extra (e.g., $0.15 per mile) at the end of your lease. So, if you travel great distances for work or intend to take any cross-country trips, buying may be the better option.
Also, consider your surroundings. Most lease agreements allow only normal wear and tear. If you know you are tough on your car or live in a neighborhood with street parking only, a lease may not be the best choice. Remember, if you lease a car, you must pay for any non-warranty repairs (e.g., a dent in the door) which benefit the leasing agency, not you. When you buy a car, it’s yours to do with as you please—you decide if the dent in the door gets fixed.
When you’re ready to move forward with purchasing your vehicle, we will provide you with information and resources to make the best decision but, our true aim is to ensure that you have a positive experience and lessen any burden so that you can truly enjoy today.