Should I Buy or Lease?

Vehicles for sale at a dealership


If it’s been a while since you’ve bought or leased a car, we understand that some of the details may be a bit fuzzy, but that’s okay! We’re here to give you all the information you need to know so you can make the best decision for your St. Louis travels. Take a look at our breakdown between leasing vs. buying so you can take the next step in your new car journey in Fenton.

We know the whole car-buying process can be a little confusing so we’re here to break down your purchase options. Wondering to yourself, “Should I lease or buy?” We can help you determine which option is right for your needs. Read on to learn more about leasing vs. buying!

Leasing vs. Buying a Vehicle

Should I buy or lease a car? If this is a question you’re asking yourself, we’re here to help you answer it. On one hand, leasing a car is quite similar to renting a car for a long-term contract period. During this contract, you’ll be locked into monthly payments for a specific amount of time. And you should keep in mind that you won’t build equity as you would from outright buying the vehicle. Take a look below to learn more about the pros and cons of leasing vs. buying:

Pros and Cons of Leasing a Car


  • Lower Monthly Payments: You’ll have smaller down payments in general when you decide to lease a car in St. Louis.
  • Worry-Free Maintenance: Many vehicles will come with a three-year lease. As a result, most repairs will be covered within the terms of an existing lease.
  • No Worries About Resale: When you’re leasing, you’ll just return the car. If you do exceed the agreed mileage, or there’s some wear and tear, you might have some fees to pay.
  • Get a New Car Every Few Years: You can return your car every couple of years, so you’ll get the latest vehicles and newest tech every so often.


  • Mileage Requirements: If you exceed the agreed-upon mileage, you’ll end up paying some fees.
  • Constant Monthly Payments: You will have to maintain those monthly payments to keep your car and that’s going to be a constant during the time of the lease.

Pros and Cons of Buying a Car


  • Ownership: You will always buy the car and once you finish your monthly payments, you will own the car outright. If you want to sell it off or trade it in, you have the ability to do so.
  • Customize Your Vehicles: Leases have rules regarding what can be done with your vehicle in St. Louis. When you own the car, you won’t have to deal with that.
  • No Restrictions: Never worry about mileage rules, wear and tear, and other issues. Repairs and other services are entirely at your discretion.


  • Higher Monthly Payments: Leasing a car means lower monthly payments for the same vehicle you might consider buying.
  • Rapid Depreciation: New cars can lose between 15% and 50% of their total value in the first five years.
  • Larger Down Payment: If you’re trying to get approved for a loan, you’ll have to consider making a larger down payment to do so. Leasing your vehicle will mean less chance of this occurring.

Buy or Lease Your Next Vehicle with Suntrup Automotive Group

Should I buy or lease a car? Still not sure which one is right for you? That’s okay. You can talk to a member of one of our finance center teams, and they’ll help you. Or, if you already know, you can always apply for financing from the comfort of your home! No matter what you choose, at Suntrup Automotive Group, we’re here to support you and help fulfill your new car dreams. So come on down, and we’ll help you get started.

You can also check out our new specials and pre-owned vehicle specials for savings opportunities and a reliable upgrade for your commute around St. Charles. We look forward to getting you behind the wheel of a vehicle you’re sure to love for many miles to come!

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