Purchase or Lease at Alexander GM in Murfreesboro
Below is a description and comparisons of Leasing vs. Purchasing. Each choice has its own advantages and  disadvantages and making this decision depends on several factors, including your personal preferences and finances.

 Ownership

Leasing: You don't own the vehicle; you must return it at the end of the lease unless you choose to purchase the vehicle.
Buying: You own the vehicle once you make the last payment. Up-Front Costs
Leasing: There may be up-front costs such as firs month's payment, refundable security deposit, capitalized cost reduction, taxes, registration or other fees.
Buying: Some of the up-front costs could include the following; down payment, taxes, registration and other fees. 

 Payment

Leasing: Monthly payments can be lower (or they could be the same with a shorter term) since you pay only for the vehicle's depreciation.

Buying: Monthly payments can be higher (or for a longer term) because you are the entire purchasing price of the vehicle.

 Early Termination

Leasing: If you end the lease early you are responsible for the lease pay-off, plus any early termination charges.

Buying: If you end the loan early you are responsible for the loan pay-off amount.

 Returning the Vehicle

Leasing: When the lease is up you return the vehicle to the lender and pay any end-of lease costs, then walk away.

Buying: Not required, but when you want a new vehicle you may have to sell or trade the vehicle.

 Future Value

Leasing: The future value of the vehicle is predetermined by the lesser and the leasing organization assumes all the risk for the vehicle value, not you.

Buying: You assume all the risk of the vehicle's future market value.

 Mileage

Leasing: All leases have mileage limitations that you negotiate up front. If you exceed these limitations you will be assessed a mileage penalty at the termination of the lease.

Buying: There are never limits to the miles driven on the vehicle, but the more miles you drive the lower the vehicle's trade-in or resale value will be.

 End of Term

Leasing: The current lease had ended and you must decide to purchase the leased vehicle outright or lease another vehicle.

Buying: You made your last payment and you now own your vehicle.

 Additional Information

Leasing: There can be a few more advantages leasing; leasing beneficial for people who want new vehicles every 2 or 3 years.

Leasing: This may be a better choice if the vehicle is being used for business, you can usually deduct the lease payments as an expense rather then deducting the depreciation with can be less.

Buying: Although it may require higher monthly payments or longer financing terms, there are no restrictions for mileage, how or where you can use the vehicle and the money is going towards something you will eventually own.