Buying vs. Leasing

A few of the most important differences between leasing and buying a vehicle!

When you decide you want a new car, you have the choice of getting one by leasing it, buying it with cash or financing it with a loan. Which way is best for you? There are pros and cons to each method. At Bearcat, we think you should have the information that will allow you to make an informed decision based on your specific situation. The following comparatives will give you a clearer understanding of how buying and leasing decisions can affect overall vehicle operating costs, actual equity and ownership issues, and tax and insurance considerations.

Most states require you to pay the entire sales tax on a vehicle at the time it is purchased. With leasing, you can generally amortize or spread the payment of sales and/or other taxes over the term of the lease. Leasing may also require higher limits for insurance coverage, for both liability and property damage (collision and comprehensive). Since tax and insurance requirements vary by state, it is important to know which requirements apply to your situation.