Use the chart below to help decide between buying and leasing. Select the "learn more" buttons for additional information.
Buy or lease?
Compare side by side.
Buy | Lease | |
|---|---|---|
| Ownership | You own the vehicle | Drive a new vehicle more often |
| Mileage limits | No limits The value of your vehicle may decline with higher mileage | Mileage limits Charges for excess mileage above amount agreed to in your lease agreement |
| Maintenance/Wear | You choose what and when to repair You can change the appearance of the vehicle | Leasing company sets maintenance guidelines Vehicle appearance can't be changed |
| Monthly Payments | Usually higher (compared to leasing) Pay for vehicle over term of the contract | Usually lower (compared to buying) Pay only for use of the vehicle, if available. Ownership requires significant additional payment at end of term. |
| Learn More | Learn More |
