Is Leasing Right for Me?

We often get the question, Why would a customer choose a lease over a retail purchase? A stigma often surrounds leases as being meant solely for those with a higher income to support such a luxury as a new Silverado, for example. We want to break the stigma and provide you with the facts about leasing so that you can have more options and make a decision that best suites you.

Did you know....

• Lease arrangements are typically suited best for drivers who put on 10,000-15,000 miles per year, but that doesn't mean they can't be more cost effective than a trade & purchase for someone who may put on more than that.
• A 24 or 36-month lease means you'll always be driving a new vehicle, which also means your new car will always be covered by factory warranty for repairs. You are still responsible for normal wear and tear like oil changes, tires, and brakes.
• Leasing often requires a low down payment and lower payments per month than a traditional vehicle purchase, even though you're taking home a brand new vehicle.
• At the end of the lease term, the lessee takes the risk of depreciation, not you. This means that you may be able to purchase the vehicle at the end of the term for a great deal. Since you don't own the vehicle, you also don't take the hit on trading it in with a lower value if an accident has to be reported to Carfax. The lessee assumes that lower trade value when you turn in the vehicle at the end of the lease.
• If you own a company, and you use your car for business, check with your tax advisor. You may be able to deduct your auto expenses, including your monthly lease payment. And if the company you work for gives you a monthly car allowance, you may want to lease since you'll be able to drive a nicer car for a lower monthly payment.

What are my Options to Purchase?

Leasing isn't for everyone, and many of our customers still prefer traditional ownership and the benefits that can come with it. Whichever you choose, Heartland's sales and leasing consultants will be there every step of the way.

• When you purchase a vehicle with cash or financing, you are not limited to mileage as you are with a lease.
• Buying or financing might be the right option for you if you plan to drive the vehicle for more than 2-3 years. Be sure to factor in the depreciation risk and the cost per mile when looking at trading up.
• Buying or financing a used vehicle means you are limited to the term of the warranty, or you can purchase a service contract to protect your asset. Heartland offers a free warranty for used vehicles up to 10 years old with less than 90,000 miles. If you buy a new vehicle from Heartland, you'll be covered for as long as you own the vehicle. We call it the Heartland Advantage, our Lifetime Limited Power Train Warranty.
• Owning a vehicle includes the benefit of personalizing your vehicle with accessories and other products as you see fit. While some customization is allowed for leased vehicles, there are stipulations.
• Whether buying or leasing, be sure to get connected with OnStar and Chevrolet My Rewards to take your vehicle experience to the next level.