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