Leasing a Car: What Is It, and What Does It Mean?

Toy Car with Calculator and Cash Finance

As you shop around for your next vehicle, you may be debating the merits of leasing vs. buying a new car. However, at Bowman Chevy, we strive to make the car buying process as quick and easy as possible. If you’re considering leasing a vehicle around Waterford, dive into our leasing guide to learn more about the process and whether it is a good option for you. Then get in touch with our financing department to set up a personalized payment plan that meets your needs and budget.

What is a Lease?

Leasing is an affordable short-term version of financing. Leasing is often compared to a long-term car rental, but it’s different from renting. When leasing a vehicle, the lessee actually finances the vehicle for the value of the car over predetermined amount time, as opposed to the total value itself.

What are the Benefits of Leasing?

There are many benefits to leasing a vehicle, but perhaps the biggest draw is the prospect of driving a new car every three-or-more years. Another benefit is the cost of monthly payments. Lease payments are generally lower than financing payments, since lease payments cover the cost of a lessee’s designated time with the vehicle, rather than paying for the overall cost in the case of financing. Additionally, maintenance costs on a lease are often under warranty, so there are no added service charges should you need a tune-up.

Should I Lease my Vehicle?

This is often the toughest question to ask yourself when car shopping, but it really depends on your needs and preferences. Should you need assistance with calculating possible monthly payments, or have any other questions about leasing, you can always contact our financing department and speak to one of our experts.

Lease Your Vehicle at Bowman Chevy

If you’ve decided to lease, or are in search of your next new vehicle, choose Bowman Chevy in Clarkston! Enjoy an amazing new Chevy vehicle at an affordable price. We look forward to helping you find the perfect car for the perfect price.

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