Buying vs Leasing FAQ

FAQ

When shopping for your next Cadillac vehicle, you have lots of decisions to make about which vehicle is best for you. But, one of the most important choices you’ll make is whether to buy or lease your next Cadillac. Both buying and leasing offer some appealing benefits, so it’s important to keep in mind the key differences between the financing methods.

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OWNERSHIP.

Perhaps the biggest difference between buying and leasing your next Cadillac is in terms of ownership. When you purchase a vehicle, it is yours to own for however long you like. On the other hand, when you lease a vehicle, you don’t own it. Rather, you drive the vehicle until the lease ends and then you either must return it to the dealership or buy it.

MONTHLY PAYMENTS.

Monthly payments are typically higher when you purchase a vehicle since you’re paying off the entire vehicle, in addition to taxes, fees, interest and other charges. When you lease, you’ll usually have lower monthly payments, since you’re only paying for the depreciation of the vehicle, as well as any taxes, fees and rent charges.

EARLY ENDINGS.

When you own your vehicle, you can sell or trade it in at any time. This is great if you see a new Cadillac model and want to purchase it right away. When you lease, choosing to end your lease prematurely can cause you to pay additional charges.

RESELLING OR TRADING IN

For some, selling or trading in your purchased vehicle can be a timely process. With leasing, you can simply return your vehicle to the dealership at the end of the leasing term and get a newer model, relieving you of the burden of selling or trading in your vehicle.

RESTRICTIONS.

When you buy a vehicle, you can drive it as often as you want and customize it in virtually any way you can imagine. However, leasing a vehicle might mean you can’t exceed a certain number of miles and are unable to customize the vehicle much if at all.