Buying VS Leasing A Vehicle In Jackson, MS
So Many Options For You
If you want to take home a new car, you can take out a loan, pay cash, or sign a lease. Here, we compare the most popular options of buying or leasing. Come visit us at Phil Moore Buick GMC in Jackson, MS and we will help you decide which purchasing option is the best fit for you.
Leasing Your Next Vehicle
Taking out a lease is a great way to get in a new car every few years. Lease payments are usually lower than a loan payment would be on the same car. This means many shoppers are able to afford a nicer car with a lease than they would with a loan.
One of the drawbacks to leasing is mileage restrictions. Your contract will state how many miles you can put on the car before the end of your contract. If you exceed that mileage, you will have to pay for every mile that you go over. You will also have to pay for any excessive wear and tear on the car.
Buying A New Model
Most car shoppers pay for their new car with a car loan. With a loan, you will make monthly payments for a certain amount of time until the balance is paid off. Once that happens, the car is completely yours and you can do whatever you want with it and drive it as long and as much as you want. Additionally, once your loan is paid off, your vehicle expenses will drop dramatically, and you will only have basic costs of ownership like gas, repairs, and insurance.
There are some downsides to buying. One is that you have to take on the brunt of the car’s depreciation, and there is no way of knowing how much the car will be worth if and when you decide to sell it or trade it in. Furthermore, you may need a sizable down payment, likely between 10-20% of the total purchase price.
| New Sales/Used | ||
| Day | Open | Closed |
| Monday | 9:00AM | 7:00PM |
| Tuesday | 9:00AM | 7:00PM |
| Wednesday | 9:00AM | 7:00PM |
| Thursday | 9:00AM | 7:00PM |
| Friday | 9:00AM | 7:00PM |
| Saturday | 9:00AM | 7:00PM |
| Sunday | Closed | Closed |
| lunch at noon -1pm | ||