Weighing Up Your Buick Lease Options in Chicago

Buick lease deals near Chicago are all the rage, as the Buick brand continues to excel with the most modern, feature-packed vehicles for sale in Illinois. From the Buick Enclave to the Buick Regal Sportback, the quality of the vehicles really shines through and makes us all want to upgrade to the latest models.

How do you get into the latest Buick models if you can’t afford a big down payment and ongoing monthly repayment on a new model? The secret is a Buick lease in Chicago. A large percentage of the Buick models you see being driven around Illinois are not owned by the driver; rather they are being leased. This is a cheaper way to drive the latest Buick models.

How Does a Chicago Buick Lease Deal Differ from Buying a Buick?

The traditional way you would buy a vehicle is by getting financing from a bank or lender and make payments towards the cost of the vehicle. You’ll typically need to put down a sizable down payment and make quite a large repayment each month that includes interest. At the end of the loan period, the vehicle is yours. You then have the choice to keep the vehicle or sell it, but it will have depreciated since you first purchased the vehicle, so you won’t get back as much as you paid.

With a Buick lease near Chicago, you’re only borrowing the vehicle from the dealership for the length of the lease. This is usually three or four years, but can be shorter, and at the end of the lease, you return the vehicle to the dealership. You don’t own the vehicle; you’re simply renting it.

Is a Lease Cheaper Than Buying a Car?

The down payment and monthly cost of leasing a Buick will almost certainly be lower than buying a vehicle. This makes it attractive for those who don’t have a large amount to put down on the purchase of a Buick.

With a leased Buick, you don’t really need to worry about the costs of wear-and-tear. Your vehicle is covered by a manufacturer’s warranty so if anything goes wrong with it then it’ll cost you very little or nothing. Servicing is typically included in a lease. If you had purchased the car, you’d have to pay for all of the servicing and replace things like tires when they require replacing. The longer you keep the vehicle, the more mechanical issues can cost. This isn’t something to worry about with a leased vehicle.

There are different hidden costs to buying or leasing a vehicle. If you buy a Buick with financing, you’ll be paying interest on the loan. This can be quite high if you choose a long repayment period or a large loan.

Similarly, buying a car means you’ll be the one taking on the depreciation of the vehicle. A new vehicle can lose around 60% of its value over the first 5 years, so that’s something you should consider when deciding between buying and leasing a car in Chicago.

Chicago car dealerships offering leases factor in this depreciation into the cost of the lease, so you will ultimately be paying for depreciation if you lease or not. It’s just more apparent when you buy a car.

Haggerty Buick GMC Lease Deals in Chicago

Whether you want to lease or buy a vehicle , Haggerty Buick GMC is the right place to come because we offer both. Choose a vehicle from our large inventory, and we’ll be able to tell you the cost of a Buick lease in Chicago vs. the cost of financing that model.