Should I Buy or Lease My Next Vehicle?


When Should I Finance a New Car?

It’s important to keep the following points in mind if you’re thinking about applying for an auto loan:

  • If you finance a vehicle, you’ll want to keep it in great shape, as any damage will lower its resale value.
  • If a vehicle is in an accident or loses value because of market conditions, you may owe more than the value of the car.
  • At the beginning of a vehicle’s life, all you need to do is pay for gas and basic maintenance. As it gets older, you’ll need to pay for new tires, valves, climate control maintenance, engine repair, and more, and those costs can add up.
  • After you’ve paid off the vehicle, you own it, and you can choose to trade it in or sell it.

Whether you’re in the market for a rugged MDX or a sleek TLX, financing can be a great choice for drivers who know they want to own their vehicle for a long time.

Woman with car keys

Beautiful young couple signs documents

When Should I Choose a Lease?

Leasing offers its own specific benefits:

  • Leases usually provide shorter term lengths than financing, so you won’t be on the hook for a long term obligation.
  • Lower monthly payments free up room in your budget.
  • During the lease, you’ll be under warranty, so you won’t need to worry about maintenance or repairs.
  • At the end of the lease term, you’ll have the option to purchase the vehicle or choose a new model. This makes leasing a good option if you always want the latest high tech features.

Consider your options then visit McGrath Acura of Downtown Chicago!

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1301 N Elston Ave. • Chicago, IL 60642

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Open Today! Sales: 9am-8pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

McGrath Acura of Downtown Chicago

1301 N Elston Ave. Chicago, IL

Phone: 888-471-3087


Phone: 888-692-6905

1301 N Elston Ave. Chicago, IL


Phone: 888-471-3087

1301 N Elston Ave. Chicago, IL


Phone: 888-248-7691

1301 N Elston Ave. Chicago, IL
41.9050055 -87.6589445