Is it time to trade in your current vehicle and upgrade to your next ride for an enjoyable driving experience? At the Shepherd's Chevrolet Buick GMC finance department, we want to make sure you have the information needed to make the financial decision that’s best for you. We understand that not every Wolcottville-area car shopper can purchase their next vehicle, which is why we created a guide to leasing vs. buying. After learning whether to lease or buy, visit our dealership for your test drive.
When leasing your vehicle the warranty covers the vehicle for the duration of the lease. When you purchase your vehicle at our Fort Wayne dealership, you may have warranty coverage for the first few years that you own it, but the terms will eventually expire. Or, drivers may have a car with a limited warranty or even no warranty at all. This has a significant impact when it comes to service or repair costs.
With purchasing new vehicles, the new car will depreciate (decrease in value) over time. With brand-new vehicles, you can see a 20 to 30 percent drop in value after the first year. Then, the rate of depreciation reduces. Used vehicles do depreciate, but the dip in value is not as large as with new vehicles.
When it comes to leasing, however, the only ones who have to worry about depreciation are the leasing companies. You don’t own the vehicle, which is why you won’t have to worry about that. Whether you buy or lease, you’re not locked in until the end of the term! Keep in mind that you have the option to end your lease early or trade in a financed car.
Are you ready to upgrade your Albion commute? Starting exploring our leasing and new vehicle specials, and even get pre-approved for financing right at home! Be sure to take advantage of our online shopping tools that allow you to value your trade and get an estimate on your monthly car or lease payments. Finding your next vehicle has never been easier than with our team! Don’t hesitate to contact our team if you have any questions or would like to schedule your test drive.