Buying vs. Leasing Medford MA

More than 30% of consumers opt to lease a car instead of purchase it.

Local Companies

Premier Auto Connection
617-417-3596
164 Trapelo Road
Belmont, MA
Zipcar, Inc.
(617)9335070
18 Tremont, Suite 605
Boston, MA
Boston Autoport
(617) 242-2300
100 Terminal Street
Charlestown, MA
Suzuki of Weymouth
781-337-2944
710 bridge street
weymouth, MA
Ricky Smith Buick Pontiac GMC
781-335-4400
25 Main Street
Weymouth, MA
Sentry South Lincoln - Mercury
(781) 391-5700
3780 Mystic Vlly Pwky
Medford, MA
Lincoln Mercury
(781) 395-6400
4100 Mystic Valley Pkwy
Medford, MA
Grava Chrysler Jeep
(781) 391-1001
357 Mystic Ave
Medford, MA
Sentry Auto Group Accounting Office
(781) 306-0489
407R Mystic Ave
Medford, MA
B & L Automotive
(781) 396-4420
340 Middlesex Ave
Medford, MA

provided by:
2007 Porsche Boxster
(Continue to more photos from MyRide.com)

Introduction

More than 30% of consumers opt to lease a car instead of purchase it. As new car prices escalate, this is a viable option for many consumers and dealers. Before shopping for your next car, compare leasing and buying to determine what is best for you.

Definitions

Buying: You can either pay cash or finance it over a term length of three to five years. At the end of the term, you own the vehicle. You may customize it as you wish.

Leasing: You are paying for use of a vehicle whose title is held by the leasing company. Your lease payments cover the depreciation of the car, interest, taxes and fees. Be mindful of final payments and charges that might apply at lease-end.

Duration

Buying: The cost of buying or leasing is the highest the first two years and decreases after four years, which amounts to buying being a more cost-effective plan.

Leasing: This is a good option for those who want to trade in their car every two to four years for a newer model. Note: You cannot terminate a lease early without penalty.

Initial Investment

Buying: Usually involves a cash down payment or a trade in. The higher the down payment, the less amount to be financed, and the lower the monthly payment.

Leasing: Does not usually require a down payment, but making one can lower your monthly payments.

Insurance Costs

Buying: You might be required to have a certain level of coverage until the car is paid off. Afterward, coverage is at your discretion.

Leasing: Tend to be higher since leasing companies may require more insurance than you would normally choose to purchase.

Maintenance

Buying: Since the manufacturer's warranty will probably be shorter than your financing term, your maintenance costs may be higher than a short-term lease. You can modify the car at your discretion.

Leasing: Vehicle must be maintained in top condition and be free of modifications, or penalties might apply. Lease term usually coincides with manufacturer's warranty.

Mileage

Buying: No limits.

Leasing: Annual mileage limits apply. Fees typically are 10 to 15 cents per mile over 12,000 to 15,000 miles per year.

Monthly Payments

Buying: The term is three to five years and payments tend to be higher than leasing.

Leasing: Lower than buying because you are paying for a portion of the cars full value. The term is usually two or three years. Some leases have a buying option at the end of the lease.

By: Staff

 

 

Continue to Buying vs. Leasing Review from MyRide.com

Featured Local Company

Premier Auto Connection

Call 617-417-3596 or email: vatche@premierautoconnection.com to get started today!!

617-417-3596
164 Trapelo Road
Belmont, MA
http://www.autocnet.com

New Service for Boston Auto Buyers


A personal service used successfully by thousands of people across the country to purchase and lease vehicles at special discounted prices is now available in the Boston area. Named Premier Auto Connection, the service includes: locating all types of vehicles, both new or used, obtaining a very competitive price, determining the best leasing and finance options, obtaining top dollar for trade-ins, providing Extended Warranty Service Contracts for new and pre-owned vehicles, and offering a complete line of automotive accessories and services.

Vatche Keledjian, a local entrepreneur and owner of Premier Auto Connection, has spent a great deal of time and money researching and test marketing the service throughout the area. Reactions from participants have been positive. After using the service, several commented they would not buy, lease or handle their automotive needs any other way. The consensus was Premier Auto Connection eliminated the hassles and anxiety associated with buying a car. Plus, Premier Auto Connection saved them both time and money.

What is the secret to Premier Auto Connection ’s success? Unlike Internet buying services, auto clubs, brokers and other buying services, Keledjian said, Premier Auto Connection represents its clients, not the manufacturer, dealer or marketing company. Premier Auto Connection does not “push” any specific makes or models, and can handle new or used vehicles, purchased or leased. According to Keledjian, Premier Auto Connection customers receive honest information from professionals who are knowledgeable about all the “hidden incentives” and options that can save the customer a lot of money, and time.

“Next to purchasing a home, buying or leasing a vehicle may be the largest purchase a person can make,” Keledjian said. “We help by providing a personal, hands-on approach. We handle the entire deal, looking for every way to save people time, energy and money.”

Premier Auto Connection is part of the Automotive Consulting Network, a company with over 200 Affiliates in the U.S. and Canada, and more than15 years of proven success. For a free, no obligation consultation, call Vatche Keledjian at 617-417-3596, or Email to Vatche@premierautoconnection.com . For additional information, visit the Automotive Consulting Network on the Internet at www.autocnet.com.


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