Compare Buying & Leasing

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.

OwnershipYou own the vehicleDrive 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


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) – Estimate a monthly payment

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.

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