What Is a Car Lease?<\/strong> <\/h2>\n\n\n\nIt\u2019s a financial transaction in which you purchase the use<\/em> of the vehicle \u2014 rather than the vehicle itself \u2014 for a contractually established period of time. Most car leases are for two to four years. At the end of the lease period, you return the vehicle to the dealer or purchase it. In essence, you\u2019re renting the car over a stated contract period. <\/p>\n\n\n\nRoad to Ownership: The Advantages of Buying Over Leasing<\/strong> <\/h2>\n\n\n\nOne distinct advantage of car ownership might be more of a psychological one: It\u2019s yours. You own the auto and can do anything you want to do with it. For instance, no one can tell you how much mileage you can put on the vehicle over the next few years. <\/p>\n\n\n\n
There\u2019s also a financial advantage. When you\u2019re ready to replace your car, you\u2019ll have something to sell or offer in a trade-in. You\u2019ve built equity in the ride. Offering cash or a trade-in upfront can result in lower monthly payments for your next vehicle. <\/p>\n\n\n\n
Furthermore, if you\u2019re a person who likes to keep a car for as long as it runs well, and doesn\u2019t put much mileage on it, you might not be ready to give up your ride in a mere two to four years. And if car shopping isn\u2019t your idea of a good time, owning a vehicle for eight or nine years, or handing it down to a first-time driver<\/a> in the family, might be preferable to turning in a leased auto every few years. <\/p>\n\n\n\nCruising With Flexibility: The Benefits of Leasing<\/strong> <\/h2>\n\n\n\nWhat are the advantages of leasing vs. buying a car? One of the primary benefits of leasing is the lower cost. You\u2019ll usually pay less in the way of a down payment \u2014 if one is required at all \u2014 than if you\u2019re buying. And your monthly payments are generally lower than purchase agreements, since the dealership will get the vehicle back and can sell it in a few short years. Also, you\u2019re not dealing with a lender, so you won\u2019t have to pay interest. <\/p>\n\n\n\n
Leasing is an ideal arrangement for those who like to frequently upgrade their vehicles and experience the latest automotive technology. And since you\u2019ll only have the car during its early life, your maintenance and repair bills will likely be minimal. In fact, the car might still be under dealer warranty for most repairs the entire time you have it. <\/p>\n\n\n\n
When the lease is up, you simply return the vehicle to your dealer without the headache of having to sell it or trade it in. In short, car leases are cheap and easy. <\/p>\n\n\n\n
Speed Bumps Ahead: Drawbacks to Consider<\/strong> <\/h2>\n\n\n\nThere are no perfect answers in the \u201clease vs. buy a car\u201d debate. Whether you choose to lease or buy a car, both have drawbacks and advantages to consider. Look closer. <\/p>\n\n\n\n
The Cons of Leasing a Vehicle<\/strong> <\/h3>\n\n\n\nSince it\u2019s not yours, you have to adhere to certain contractual obligations. The most challenging of these might be the mileage restriction. You\u2019ll be given a maximum number of miles you can put on the odometer, and you\u2019ll be charged a per-mile fee for mileage beyond that when you turn it in. Mileage restrictions of 12,000 miles a year are common. Can you meet that limit? It can get pretty expensive if you go over it by a few thousand miles. <\/p>\n\n\n\n
You might also be subject to additional fees for excessive wear and tear or even minor body damage to the vehicle. <\/p>\n\n\n\n
And finally, you\u2019ll have nothing for resale at the end of the lease period. Since the vehicle isn\u2019t yours, you won\u2019t be able to sell it or trade it in for the equity that a car of that make, model, age, and condition might otherwise hold.\u00a0<\/p>\n\n\n
\n![\"Mom,](\"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-2.jpg\")
<\/figure><\/div>\n\n\nThe Disadvantages of Buying<\/strong> <\/h3>\n\n\n\nThe cost of purchasing a vehicle is generally higher than leasing it, so the car you really want might be beyond your budget. <\/p>\n\n\n\n
While there are advantages of not having to turn in a vehicle after just two to four years, it\u2019s also true that holding onto your ride longer after buying it will mean being responsible for the occasional brake job, new tires, and other standard maintenance and repair costs. <\/p>\n\n\n\n
And there\u2019s that cost factor. You\u2019ll pay more to own a vehicle than you would to lease it, though if you keep your car after paying off your loan, that cost disparity eventually disappears. <\/p>\n\n\n\n
Insurance for Leased Car vs. Owned Car<\/strong> <\/h2>\n\n\n\nWhether you\u2019re dealing with a lender or a leasing agent, you\u2019ll have to carry full insurance coverage, including comprehensive and collision benefits. That\u2019s because the lender and lessor want to make sure they receive payments due to them even if the car is stolen, damaged, or totaled. <\/p>\n\n\n\n
You have a little more flexibility if you buy the vehicle. That\u2019s because, once you pay off your loan, you can convert to liability-only auto insurance coverage if you want. And if you buy the vehicle without taking out a loan, you can do whatever you want to do in terms of coverage (within the minimal coverage laws of your state<\/a>). <\/p>\n\n\n\nIf you\u2019re leasing your vehicle, you don\u2019t have this option. You\u2019ll be required to carry full coverage insurance<\/a> throughout your lease period. Of course, that\u2019s often the smartest choice anyway. <\/p>\n\n\n\nThe Final Question: Who Should Lease and Who Should Buy?<\/strong> <\/h2>\n\n\n\nDo you love the new car smell? Do you enjoy car shopping and putting a new vehicle in your garage as often as possible? And would you like to save money on your upfront costs and monthly payments and have few, if any, maintenance and repair responsibilities? <\/p>\n\n\n\n
If you answered \u201cyes\u201d to all or most of those questions, leasing might be your best option. <\/p>\n\n\n\n
If, however, you like to keep your car for longer and have some resale value when it\u2019s time to upgrade, buying a car might be in the cards for you. <\/p>\n\n\n\n
Also, consider the mileage you put on a vehicle. Many lease terms only allow as few as 12,000 miles a year \u2014 a thousand miles a month \u2014 before you\u2019ll have to pay for excessive mileage. How much driving do you do in a year? Will the excessive mileage fees eat up most of what you saved by leasing vs buying a car? <\/p>\n\n\n\n
In considering car lease vs. purchase \u2014 or even buying a new car vs. leasing \u2014 there\u2019s always an ideal answer. It will vary depending on your budget, preferences, and the way you intend to use your ride. <\/p>\n\n\n\n
No Matter How You Drive, We\u2019ve Got You Covered \u2014 Explore Car Insurance with Acceptance<\/strong>\u00a0<\/h2>\n\n\n\nWhile determining whether to lease or buy your next vehicle, don\u2019t forget to give car insurance your full attention. Consult with your knowledgeable Acceptance auto insurance agent about your options. In fact, ask anything. <\/p>\n\n\n\n
Find out how your credit score affects your rates<\/a>. Ask if gap insurance is right for you<\/a> if you buy a new car. <\/p>\n\n\n\nDon\u2019t be afraid to discuss cost. As an independent broker, your Acceptance agent has established relationships with multiple name-brand auto insurance carriers. That means they can go shopping on your behalf and find you the best deals at the most affordable rates. <\/p>\n\n\n\n
Reach out to Acceptance at (877) 405-7102<\/a>, or get a quick online quote<\/a>. You can also find an Acceptance Insurance office near you<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Finally, you\u2019re getting that new car. At first, you might think of little more than the benefits of finally having dependable transportation \u2014 a new vehicle you\u2019ll actually enjoy driving. But before you get to that point, consider the transaction itself and whether it might be better to lease rather than buy. Leasing vs. buying […]<\/p>\n","protected":false},"author":9,"featured_media":1564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,3,4],"tags":[],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/acceptance.com\/leasing-vs-buying-a-car\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Leasing vs. Buying a Car: Which Is Best for Me?\u00a0","url":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/"},"thumbnailUrl":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1-150x150.jpg","image":{"@type":"ImageObject","url":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1.jpg"},"articleSection":"Auto Tips","author":[{"@type":"Person","name":"Monica Alarcon"}],"creator":["Monica Alarcon"],"publisher":{"@type":"Organization","name":"Acceptance Insurance","logo":""},"keywords":[],"dateCreated":"2025-07-02T15:24:45Z","datePublished":"2025-07-02T15:24:45Z","dateModified":"2025-07-02T15:24:45Z"},"rendered":"
Road to Ownership: The Advantages of Buying Over Leasing<\/strong> <\/h2>\n\n\n\nOne distinct advantage of car ownership might be more of a psychological one: It\u2019s yours. You own the auto and can do anything you want to do with it. For instance, no one can tell you how much mileage you can put on the vehicle over the next few years. <\/p>\n\n\n\n
There\u2019s also a financial advantage. When you\u2019re ready to replace your car, you\u2019ll have something to sell or offer in a trade-in. You\u2019ve built equity in the ride. Offering cash or a trade-in upfront can result in lower monthly payments for your next vehicle. <\/p>\n\n\n\n
Furthermore, if you\u2019re a person who likes to keep a car for as long as it runs well, and doesn\u2019t put much mileage on it, you might not be ready to give up your ride in a mere two to four years. And if car shopping isn\u2019t your idea of a good time, owning a vehicle for eight or nine years, or handing it down to a first-time driver<\/a> in the family, might be preferable to turning in a leased auto every few years. <\/p>\n\n\n\nCruising With Flexibility: The Benefits of Leasing<\/strong> <\/h2>\n\n\n\nWhat are the advantages of leasing vs. buying a car? One of the primary benefits of leasing is the lower cost. You\u2019ll usually pay less in the way of a down payment \u2014 if one is required at all \u2014 than if you\u2019re buying. And your monthly payments are generally lower than purchase agreements, since the dealership will get the vehicle back and can sell it in a few short years. Also, you\u2019re not dealing with a lender, so you won\u2019t have to pay interest. <\/p>\n\n\n\n
Leasing is an ideal arrangement for those who like to frequently upgrade their vehicles and experience the latest automotive technology. And since you\u2019ll only have the car during its early life, your maintenance and repair bills will likely be minimal. In fact, the car might still be under dealer warranty for most repairs the entire time you have it. <\/p>\n\n\n\n
When the lease is up, you simply return the vehicle to your dealer without the headache of having to sell it or trade it in. In short, car leases are cheap and easy. <\/p>\n\n\n\n
Speed Bumps Ahead: Drawbacks to Consider<\/strong> <\/h2>\n\n\n\nThere are no perfect answers in the \u201clease vs. buy a car\u201d debate. Whether you choose to lease or buy a car, both have drawbacks and advantages to consider. Look closer. <\/p>\n\n\n\n
The Cons of Leasing a Vehicle<\/strong> <\/h3>\n\n\n\nSince it\u2019s not yours, you have to adhere to certain contractual obligations. The most challenging of these might be the mileage restriction. You\u2019ll be given a maximum number of miles you can put on the odometer, and you\u2019ll be charged a per-mile fee for mileage beyond that when you turn it in. Mileage restrictions of 12,000 miles a year are common. Can you meet that limit? It can get pretty expensive if you go over it by a few thousand miles. <\/p>\n\n\n\n
You might also be subject to additional fees for excessive wear and tear or even minor body damage to the vehicle. <\/p>\n\n\n\n
And finally, you\u2019ll have nothing for resale at the end of the lease period. Since the vehicle isn\u2019t yours, you won\u2019t be able to sell it or trade it in for the equity that a car of that make, model, age, and condition might otherwise hold.\u00a0<\/p>\n\n\n
\n<\/figure><\/div>\n\n\nThe Disadvantages of Buying<\/strong> <\/h3>\n\n\n\nThe cost of purchasing a vehicle is generally higher than leasing it, so the car you really want might be beyond your budget. <\/p>\n\n\n\n
While there are advantages of not having to turn in a vehicle after just two to four years, it\u2019s also true that holding onto your ride longer after buying it will mean being responsible for the occasional brake job, new tires, and other standard maintenance and repair costs. <\/p>\n\n\n\n
And there\u2019s that cost factor. You\u2019ll pay more to own a vehicle than you would to lease it, though if you keep your car after paying off your loan, that cost disparity eventually disappears. <\/p>\n\n\n\n
Insurance for Leased Car vs. Owned Car<\/strong> <\/h2>\n\n\n\nWhether you\u2019re dealing with a lender or a leasing agent, you\u2019ll have to carry full insurance coverage, including comprehensive and collision benefits. That\u2019s because the lender and lessor want to make sure they receive payments due to them even if the car is stolen, damaged, or totaled. <\/p>\n\n\n\n
You have a little more flexibility if you buy the vehicle. That\u2019s because, once you pay off your loan, you can convert to liability-only auto insurance coverage if you want. And if you buy the vehicle without taking out a loan, you can do whatever you want to do in terms of coverage (within the minimal coverage laws of your state<\/a>). <\/p>\n\n\n\nIf you\u2019re leasing your vehicle, you don\u2019t have this option. You\u2019ll be required to carry full coverage insurance<\/a> throughout your lease period. Of course, that\u2019s often the smartest choice anyway. <\/p>\n\n\n\nThe Final Question: Who Should Lease and Who Should Buy?<\/strong> <\/h2>\n\n\n\nDo you love the new car smell? Do you enjoy car shopping and putting a new vehicle in your garage as often as possible? And would you like to save money on your upfront costs and monthly payments and have few, if any, maintenance and repair responsibilities? <\/p>\n\n\n\n
If you answered \u201cyes\u201d to all or most of those questions, leasing might be your best option. <\/p>\n\n\n\n
If, however, you like to keep your car for longer and have some resale value when it\u2019s time to upgrade, buying a car might be in the cards for you. <\/p>\n\n\n\n
Also, consider the mileage you put on a vehicle. Many lease terms only allow as few as 12,000 miles a year \u2014 a thousand miles a month \u2014 before you\u2019ll have to pay for excessive mileage. How much driving do you do in a year? Will the excessive mileage fees eat up most of what you saved by leasing vs buying a car? <\/p>\n\n\n\n
In considering car lease vs. purchase \u2014 or even buying a new car vs. leasing \u2014 there\u2019s always an ideal answer. It will vary depending on your budget, preferences, and the way you intend to use your ride. <\/p>\n\n\n\n
No Matter How You Drive, We\u2019ve Got You Covered \u2014 Explore Car Insurance with Acceptance<\/strong>\u00a0<\/h2>\n\n\n\nWhile determining whether to lease or buy your next vehicle, don\u2019t forget to give car insurance your full attention. Consult with your knowledgeable Acceptance auto insurance agent about your options. In fact, ask anything. <\/p>\n\n\n\n
Find out how your credit score affects your rates<\/a>. Ask if gap insurance is right for you<\/a> if you buy a new car. <\/p>\n\n\n\nDon\u2019t be afraid to discuss cost. As an independent broker, your Acceptance agent has established relationships with multiple name-brand auto insurance carriers. That means they can go shopping on your behalf and find you the best deals at the most affordable rates. <\/p>\n\n\n\n
Reach out to Acceptance at (877) 405-7102<\/a>, or get a quick online quote<\/a>. You can also find an Acceptance Insurance office near you<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Finally, you\u2019re getting that new car. At first, you might think of little more than the benefits of finally having dependable transportation \u2014 a new vehicle you\u2019ll actually enjoy driving. But before you get to that point, consider the transaction itself and whether it might be better to lease rather than buy. Leasing vs. buying […]<\/p>\n","protected":false},"author":9,"featured_media":1564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,3,4],"tags":[],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/acceptance.com\/leasing-vs-buying-a-car\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Leasing vs. Buying a Car: Which Is Best for Me?\u00a0","url":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/"},"thumbnailUrl":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1-150x150.jpg","image":{"@type":"ImageObject","url":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1.jpg"},"articleSection":"Auto Tips","author":[{"@type":"Person","name":"Monica Alarcon"}],"creator":["Monica Alarcon"],"publisher":{"@type":"Organization","name":"Acceptance Insurance","logo":""},"keywords":[],"dateCreated":"2025-07-02T15:24:45Z","datePublished":"2025-07-02T15:24:45Z","dateModified":"2025-07-02T15:24:45Z"},"rendered":"
Cruising With Flexibility: The Benefits of Leasing<\/strong> <\/h2>\n\n\n\nWhat are the advantages of leasing vs. buying a car? One of the primary benefits of leasing is the lower cost. You\u2019ll usually pay less in the way of a down payment \u2014 if one is required at all \u2014 than if you\u2019re buying. And your monthly payments are generally lower than purchase agreements, since the dealership will get the vehicle back and can sell it in a few short years. Also, you\u2019re not dealing with a lender, so you won\u2019t have to pay interest. <\/p>\n\n\n\n
Leasing is an ideal arrangement for those who like to frequently upgrade their vehicles and experience the latest automotive technology. And since you\u2019ll only have the car during its early life, your maintenance and repair bills will likely be minimal. In fact, the car might still be under dealer warranty for most repairs the entire time you have it. <\/p>\n\n\n\n
When the lease is up, you simply return the vehicle to your dealer without the headache of having to sell it or trade it in. In short, car leases are cheap and easy. <\/p>\n\n\n\n
Speed Bumps Ahead: Drawbacks to Consider<\/strong> <\/h2>\n\n\n\nThere are no perfect answers in the \u201clease vs. buy a car\u201d debate. Whether you choose to lease or buy a car, both have drawbacks and advantages to consider. Look closer. <\/p>\n\n\n\n
The Cons of Leasing a Vehicle<\/strong> <\/h3>\n\n\n\nSince it\u2019s not yours, you have to adhere to certain contractual obligations. The most challenging of these might be the mileage restriction. You\u2019ll be given a maximum number of miles you can put on the odometer, and you\u2019ll be charged a per-mile fee for mileage beyond that when you turn it in. Mileage restrictions of 12,000 miles a year are common. Can you meet that limit? It can get pretty expensive if you go over it by a few thousand miles. <\/p>\n\n\n\n
You might also be subject to additional fees for excessive wear and tear or even minor body damage to the vehicle. <\/p>\n\n\n\n
And finally, you\u2019ll have nothing for resale at the end of the lease period. Since the vehicle isn\u2019t yours, you won\u2019t be able to sell it or trade it in for the equity that a car of that make, model, age, and condition might otherwise hold.\u00a0<\/p>\n\n\n
\n<\/figure><\/div>\n\n\nThe Disadvantages of Buying<\/strong> <\/h3>\n\n\n\nThe cost of purchasing a vehicle is generally higher than leasing it, so the car you really want might be beyond your budget. <\/p>\n\n\n\n
While there are advantages of not having to turn in a vehicle after just two to four years, it\u2019s also true that holding onto your ride longer after buying it will mean being responsible for the occasional brake job, new tires, and other standard maintenance and repair costs. <\/p>\n\n\n\n
And there\u2019s that cost factor. You\u2019ll pay more to own a vehicle than you would to lease it, though if you keep your car after paying off your loan, that cost disparity eventually disappears. <\/p>\n\n\n\n
Insurance for Leased Car vs. Owned Car<\/strong> <\/h2>\n\n\n\nWhether you\u2019re dealing with a lender or a leasing agent, you\u2019ll have to carry full insurance coverage, including comprehensive and collision benefits. That\u2019s because the lender and lessor want to make sure they receive payments due to them even if the car is stolen, damaged, or totaled. <\/p>\n\n\n\n
You have a little more flexibility if you buy the vehicle. That\u2019s because, once you pay off your loan, you can convert to liability-only auto insurance coverage if you want. And if you buy the vehicle without taking out a loan, you can do whatever you want to do in terms of coverage (within the minimal coverage laws of your state<\/a>). <\/p>\n\n\n\nIf you\u2019re leasing your vehicle, you don\u2019t have this option. You\u2019ll be required to carry full coverage insurance<\/a> throughout your lease period. Of course, that\u2019s often the smartest choice anyway. <\/p>\n\n\n\nThe Final Question: Who Should Lease and Who Should Buy?<\/strong> <\/h2>\n\n\n\nDo you love the new car smell? Do you enjoy car shopping and putting a new vehicle in your garage as often as possible? And would you like to save money on your upfront costs and monthly payments and have few, if any, maintenance and repair responsibilities? <\/p>\n\n\n\n
If you answered \u201cyes\u201d to all or most of those questions, leasing might be your best option. <\/p>\n\n\n\n
If, however, you like to keep your car for longer and have some resale value when it\u2019s time to upgrade, buying a car might be in the cards for you. <\/p>\n\n\n\n
Also, consider the mileage you put on a vehicle. Many lease terms only allow as few as 12,000 miles a year \u2014 a thousand miles a month \u2014 before you\u2019ll have to pay for excessive mileage. How much driving do you do in a year? Will the excessive mileage fees eat up most of what you saved by leasing vs buying a car? <\/p>\n\n\n\n
In considering car lease vs. purchase \u2014 or even buying a new car vs. leasing \u2014 there\u2019s always an ideal answer. It will vary depending on your budget, preferences, and the way you intend to use your ride. <\/p>\n\n\n\n
No Matter How You Drive, We\u2019ve Got You Covered \u2014 Explore Car Insurance with Acceptance<\/strong>\u00a0<\/h2>\n\n\n\nWhile determining whether to lease or buy your next vehicle, don\u2019t forget to give car insurance your full attention. Consult with your knowledgeable Acceptance auto insurance agent about your options. In fact, ask anything. <\/p>\n\n\n\n
Find out how your credit score affects your rates<\/a>. Ask if gap insurance is right for you<\/a> if you buy a new car. <\/p>\n\n\n\nDon\u2019t be afraid to discuss cost. As an independent broker, your Acceptance agent has established relationships with multiple name-brand auto insurance carriers. That means they can go shopping on your behalf and find you the best deals at the most affordable rates. <\/p>\n\n\n\n
Reach out to Acceptance at (877) 405-7102<\/a>, or get a quick online quote<\/a>. You can also find an Acceptance Insurance office near you<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Finally, you\u2019re getting that new car. At first, you might think of little more than the benefits of finally having dependable transportation \u2014 a new vehicle you\u2019ll actually enjoy driving. But before you get to that point, consider the transaction itself and whether it might be better to lease rather than buy. Leasing vs. buying […]<\/p>\n","protected":false},"author":9,"featured_media":1564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,3,4],"tags":[],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/acceptance.com\/leasing-vs-buying-a-car\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Leasing vs. Buying a Car: Which Is Best for Me?\u00a0","url":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/"},"thumbnailUrl":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1-150x150.jpg","image":{"@type":"ImageObject","url":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1.jpg"},"articleSection":"Auto Tips","author":[{"@type":"Person","name":"Monica Alarcon"}],"creator":["Monica Alarcon"],"publisher":{"@type":"Organization","name":"Acceptance Insurance","logo":""},"keywords":[],"dateCreated":"2025-07-02T15:24:45Z","datePublished":"2025-07-02T15:24:45Z","dateModified":"2025-07-02T15:24:45Z"},"rendered":"
There are no perfect answers in the \u201clease vs. buy a car\u201d debate. Whether you choose to lease or buy a car, both have drawbacks and advantages to consider. Look closer. <\/p>\n\n\n\n
The Cons of Leasing a Vehicle<\/strong> <\/h3>\n\n\n\nSince it\u2019s not yours, you have to adhere to certain contractual obligations. The most challenging of these might be the mileage restriction. You\u2019ll be given a maximum number of miles you can put on the odometer, and you\u2019ll be charged a per-mile fee for mileage beyond that when you turn it in. Mileage restrictions of 12,000 miles a year are common. Can you meet that limit? It can get pretty expensive if you go over it by a few thousand miles. <\/p>\n\n\n\n
You might also be subject to additional fees for excessive wear and tear or even minor body damage to the vehicle. <\/p>\n\n\n\n
And finally, you\u2019ll have nothing for resale at the end of the lease period. Since the vehicle isn\u2019t yours, you won\u2019t be able to sell it or trade it in for the equity that a car of that make, model, age, and condition might otherwise hold.\u00a0<\/p>\n\n\n
\n<\/figure><\/div>\n\n\nThe Disadvantages of Buying<\/strong> <\/h3>\n\n\n\nThe cost of purchasing a vehicle is generally higher than leasing it, so the car you really want might be beyond your budget. <\/p>\n\n\n\n
While there are advantages of not having to turn in a vehicle after just two to four years, it\u2019s also true that holding onto your ride longer after buying it will mean being responsible for the occasional brake job, new tires, and other standard maintenance and repair costs. <\/p>\n\n\n\n
And there\u2019s that cost factor. You\u2019ll pay more to own a vehicle than you would to lease it, though if you keep your car after paying off your loan, that cost disparity eventually disappears. <\/p>\n\n\n\n
Insurance for Leased Car vs. Owned Car<\/strong> <\/h2>\n\n\n\nWhether you\u2019re dealing with a lender or a leasing agent, you\u2019ll have to carry full insurance coverage, including comprehensive and collision benefits. That\u2019s because the lender and lessor want to make sure they receive payments due to them even if the car is stolen, damaged, or totaled. <\/p>\n\n\n\n
You have a little more flexibility if you buy the vehicle. That\u2019s because, once you pay off your loan, you can convert to liability-only auto insurance coverage if you want. And if you buy the vehicle without taking out a loan, you can do whatever you want to do in terms of coverage (within the minimal coverage laws of your state<\/a>). <\/p>\n\n\n\nIf you\u2019re leasing your vehicle, you don\u2019t have this option. You\u2019ll be required to carry full coverage insurance<\/a> throughout your lease period. Of course, that\u2019s often the smartest choice anyway. <\/p>\n\n\n\nThe Final Question: Who Should Lease and Who Should Buy?<\/strong> <\/h2>\n\n\n\nDo you love the new car smell? Do you enjoy car shopping and putting a new vehicle in your garage as often as possible? And would you like to save money on your upfront costs and monthly payments and have few, if any, maintenance and repair responsibilities? <\/p>\n\n\n\n
If you answered \u201cyes\u201d to all or most of those questions, leasing might be your best option. <\/p>\n\n\n\n
If, however, you like to keep your car for longer and have some resale value when it\u2019s time to upgrade, buying a car might be in the cards for you. <\/p>\n\n\n\n
Also, consider the mileage you put on a vehicle. Many lease terms only allow as few as 12,000 miles a year \u2014 a thousand miles a month \u2014 before you\u2019ll have to pay for excessive mileage. How much driving do you do in a year? Will the excessive mileage fees eat up most of what you saved by leasing vs buying a car? <\/p>\n\n\n\n
In considering car lease vs. purchase \u2014 or even buying a new car vs. leasing \u2014 there\u2019s always an ideal answer. It will vary depending on your budget, preferences, and the way you intend to use your ride. <\/p>\n\n\n\n
No Matter How You Drive, We\u2019ve Got You Covered \u2014 Explore Car Insurance with Acceptance<\/strong>\u00a0<\/h2>\n\n\n\nWhile determining whether to lease or buy your next vehicle, don\u2019t forget to give car insurance your full attention. Consult with your knowledgeable Acceptance auto insurance agent about your options. In fact, ask anything. <\/p>\n\n\n\n
Find out how your credit score affects your rates<\/a>. Ask if gap insurance is right for you<\/a> if you buy a new car. <\/p>\n\n\n\nDon\u2019t be afraid to discuss cost. As an independent broker, your Acceptance agent has established relationships with multiple name-brand auto insurance carriers. That means they can go shopping on your behalf and find you the best deals at the most affordable rates. <\/p>\n\n\n\n
Reach out to Acceptance at (877) 405-7102<\/a>, or get a quick online quote<\/a>. You can also find an Acceptance Insurance office near you<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Finally, you\u2019re getting that new car. At first, you might think of little more than the benefits of finally having dependable transportation \u2014 a new vehicle you\u2019ll actually enjoy driving. But before you get to that point, consider the transaction itself and whether it might be better to lease rather than buy. Leasing vs. buying […]<\/p>\n","protected":false},"author":9,"featured_media":1564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,3,4],"tags":[],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/acceptance.com\/leasing-vs-buying-a-car\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Leasing vs. Buying a Car: Which Is Best for Me?\u00a0","url":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/"},"thumbnailUrl":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1-150x150.jpg","image":{"@type":"ImageObject","url":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1.jpg"},"articleSection":"Auto Tips","author":[{"@type":"Person","name":"Monica Alarcon"}],"creator":["Monica Alarcon"],"publisher":{"@type":"Organization","name":"Acceptance Insurance","logo":""},"keywords":[],"dateCreated":"2025-07-02T15:24:45Z","datePublished":"2025-07-02T15:24:45Z","dateModified":"2025-07-02T15:24:45Z"},"rendered":"
<\/figure><\/div>\n\n\nThe Disadvantages of Buying<\/strong> <\/h3>\n\n\n\nThe cost of purchasing a vehicle is generally higher than leasing it, so the car you really want might be beyond your budget. <\/p>\n\n\n\n
While there are advantages of not having to turn in a vehicle after just two to four years, it\u2019s also true that holding onto your ride longer after buying it will mean being responsible for the occasional brake job, new tires, and other standard maintenance and repair costs. <\/p>\n\n\n\n
And there\u2019s that cost factor. You\u2019ll pay more to own a vehicle than you would to lease it, though if you keep your car after paying off your loan, that cost disparity eventually disappears. <\/p>\n\n\n\n
Insurance for Leased Car vs. Owned Car<\/strong> <\/h2>\n\n\n\nWhether you\u2019re dealing with a lender or a leasing agent, you\u2019ll have to carry full insurance coverage, including comprehensive and collision benefits. That\u2019s because the lender and lessor want to make sure they receive payments due to them even if the car is stolen, damaged, or totaled. <\/p>\n\n\n\n
You have a little more flexibility if you buy the vehicle. That\u2019s because, once you pay off your loan, you can convert to liability-only auto insurance coverage if you want. And if you buy the vehicle without taking out a loan, you can do whatever you want to do in terms of coverage (within the minimal coverage laws of your state<\/a>). <\/p>\n\n\n\nIf you\u2019re leasing your vehicle, you don\u2019t have this option. You\u2019ll be required to carry full coverage insurance<\/a> throughout your lease period. Of course, that\u2019s often the smartest choice anyway. <\/p>\n\n\n\nThe Final Question: Who Should Lease and Who Should Buy?<\/strong> <\/h2>\n\n\n\nDo you love the new car smell? Do you enjoy car shopping and putting a new vehicle in your garage as often as possible? And would you like to save money on your upfront costs and monthly payments and have few, if any, maintenance and repair responsibilities? <\/p>\n\n\n\n
If you answered \u201cyes\u201d to all or most of those questions, leasing might be your best option. <\/p>\n\n\n\n
If, however, you like to keep your car for longer and have some resale value when it\u2019s time to upgrade, buying a car might be in the cards for you. <\/p>\n\n\n\n
Also, consider the mileage you put on a vehicle. Many lease terms only allow as few as 12,000 miles a year \u2014 a thousand miles a month \u2014 before you\u2019ll have to pay for excessive mileage. How much driving do you do in a year? Will the excessive mileage fees eat up most of what you saved by leasing vs buying a car? <\/p>\n\n\n\n
In considering car lease vs. purchase \u2014 or even buying a new car vs. leasing \u2014 there\u2019s always an ideal answer. It will vary depending on your budget, preferences, and the way you intend to use your ride. <\/p>\n\n\n\n
No Matter How You Drive, We\u2019ve Got You Covered \u2014 Explore Car Insurance with Acceptance<\/strong>\u00a0<\/h2>\n\n\n\nWhile determining whether to lease or buy your next vehicle, don\u2019t forget to give car insurance your full attention. Consult with your knowledgeable Acceptance auto insurance agent about your options. In fact, ask anything. <\/p>\n\n\n\n
Find out how your credit score affects your rates<\/a>. Ask if gap insurance is right for you<\/a> if you buy a new car. <\/p>\n\n\n\nDon\u2019t be afraid to discuss cost. As an independent broker, your Acceptance agent has established relationships with multiple name-brand auto insurance carriers. That means they can go shopping on your behalf and find you the best deals at the most affordable rates. <\/p>\n\n\n\n
Reach out to Acceptance at (877) 405-7102<\/a>, or get a quick online quote<\/a>. You can also find an Acceptance Insurance office near you<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Finally, you\u2019re getting that new car. At first, you might think of little more than the benefits of finally having dependable transportation \u2014 a new vehicle you\u2019ll actually enjoy driving. But before you get to that point, consider the transaction itself and whether it might be better to lease rather than buy. Leasing vs. buying […]<\/p>\n","protected":false},"author":9,"featured_media":1564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,3,4],"tags":[],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/acceptance.com\/leasing-vs-buying-a-car\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Leasing vs. Buying a Car: Which Is Best for Me?\u00a0","url":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/"},"thumbnailUrl":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1-150x150.jpg","image":{"@type":"ImageObject","url":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1.jpg"},"articleSection":"Auto Tips","author":[{"@type":"Person","name":"Monica Alarcon"}],"creator":["Monica Alarcon"],"publisher":{"@type":"Organization","name":"Acceptance Insurance","logo":""},"keywords":[],"dateCreated":"2025-07-02T15:24:45Z","datePublished":"2025-07-02T15:24:45Z","dateModified":"2025-07-02T15:24:45Z"},"rendered":"
Whether you\u2019re dealing with a lender or a leasing agent, you\u2019ll have to carry full insurance coverage, including comprehensive and collision benefits. That\u2019s because the lender and lessor want to make sure they receive payments due to them even if the car is stolen, damaged, or totaled. <\/p>\n\n\n\n
You have a little more flexibility if you buy the vehicle. That\u2019s because, once you pay off your loan, you can convert to liability-only auto insurance coverage if you want. And if you buy the vehicle without taking out a loan, you can do whatever you want to do in terms of coverage (within the minimal coverage laws of your state<\/a>). <\/p>\n\n\n\n If you\u2019re leasing your vehicle, you don\u2019t have this option. You\u2019ll be required to carry full coverage insurance<\/a> throughout your lease period. Of course, that\u2019s often the smartest choice anyway. <\/p>\n\n\n\n Do you love the new car smell? Do you enjoy car shopping and putting a new vehicle in your garage as often as possible? And would you like to save money on your upfront costs and monthly payments and have few, if any, maintenance and repair responsibilities? <\/p>\n\n\n\n If you answered \u201cyes\u201d to all or most of those questions, leasing might be your best option. <\/p>\n\n\n\n If, however, you like to keep your car for longer and have some resale value when it\u2019s time to upgrade, buying a car might be in the cards for you. <\/p>\n\n\n\n Also, consider the mileage you put on a vehicle. Many lease terms only allow as few as 12,000 miles a year \u2014 a thousand miles a month \u2014 before you\u2019ll have to pay for excessive mileage. How much driving do you do in a year? Will the excessive mileage fees eat up most of what you saved by leasing vs buying a car? <\/p>\n\n\n\n In considering car lease vs. purchase \u2014 or even buying a new car vs. leasing \u2014 there\u2019s always an ideal answer. It will vary depending on your budget, preferences, and the way you intend to use your ride. <\/p>\n\n\n\n While determining whether to lease or buy your next vehicle, don\u2019t forget to give car insurance your full attention. Consult with your knowledgeable Acceptance auto insurance agent about your options. In fact, ask anything. <\/p>\n\n\n\n Find out how your credit score affects your rates<\/a>. Ask if gap insurance is right for you<\/a> if you buy a new car. <\/p>\n\n\n\n Don\u2019t be afraid to discuss cost. As an independent broker, your Acceptance agent has established relationships with multiple name-brand auto insurance carriers. That means they can go shopping on your behalf and find you the best deals at the most affordable rates. <\/p>\n\n\n\n Reach out to Acceptance at (877) 405-7102<\/a>, or get a quick online quote<\/a>. You can also find an Acceptance Insurance office near you<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":" Finally, you\u2019re getting that new car. At first, you might think of little more than the benefits of finally having dependable transportation \u2014 a new vehicle you\u2019ll actually enjoy driving. But before you get to that point, consider the transaction itself and whether it might be better to lease rather than buy. Leasing vs. buying […]<\/p>\n","protected":false},"author":9,"featured_media":1564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,3,4],"tags":[],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/acceptance.com\/leasing-vs-buying-a-car\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Leasing vs. Buying a Car: Which Is Best for Me?\u00a0","url":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.acceptance.com\/blog\/leasing-vs-buying-a-car\/"},"thumbnailUrl":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1-150x150.jpg","image":{"@type":"ImageObject","url":"https:\/\/www.acceptance.com\/blog\/wp-content\/uploads\/sites\/2\/2025\/06\/acc-leasing-vs-buying-a-car-1.jpg"},"articleSection":"Auto Tips","author":[{"@type":"Person","name":"Monica Alarcon"}],"creator":["Monica Alarcon"],"publisher":{"@type":"Organization","name":"Acceptance Insurance","logo":""},"keywords":[],"dateCreated":"2025-07-02T15:24:45Z","datePublished":"2025-07-02T15:24:45Z","dateModified":"2025-07-02T15:24:45Z"},"rendered":"The Final Question: Who Should Lease and Who Should Buy?<\/strong> <\/h2>\n\n\n\n
No Matter How You Drive, We\u2019ve Got You Covered \u2014 Explore Car Insurance with Acceptance<\/strong>\u00a0<\/h2>\n\n\n\n