Best Auto Repair, Bushwood

Click on the mail icon below to schedule an appointment!
FacebookYelp - TransparentGoogle My Business White

AUTONET TV

Working Hours
  • Mon 8:00AM - 5:00PM
    Tue 8:00AM - 5:00PM
  • Wed 8:00AM - 5:00PM
    Thu 8:00AM - 5:00PM
  • Fri 8:00AM - 5:00PM
    Sat Closed
  • Sun Closed

AUTONET TV

Lease or Buy?

Posted September 11, 2013 12:00 PM



Lease? Or buy? These are the options for Bushwood drivers. It's always a tough question for auto owners, but here is some info that'll help you make an informed decision.

If you buy, you'll pay the full cost of the vehicle, maybe an initial down payment, monthly payments on the balance that pays down the loan principal, and the finance charge.

Bushwood drivers who lease finance the portion of the cost of the vehicle that's used up during the term of the lease. You'll pay some money up front: fees, security deposit, first month's payment and maybe a capital reduction. The monthly payments include a depreciation cost and a finance charge. When the lease is up, you return the vehicle to your local Bushwood area dealership. 

So how do Bushwood drivers decide?

First, how much do you have for a down payment? A lease usually requires a smaller down payment.

How much monthly payment can you afford? Again, lease payments will be much lower for any given down payment.

A lease needs requires better credit, so that's a factor.

How long will you keep the vehicle? Bushwood drivers who keep their vehicles around for a while will pay less if they buy. But just two or three years? Then leasing is the way to go.

If your car might suffer a ding or two, like a work truck would, then buying's better. The auto leasing company will want their vehicle back at the lease end in tip top shape, and if repairs are needed, you'll pay.

How far do you drive in and around the Bushwood area? Important to consider because leases have a mileage limit; if you go over, you pay a hefty charge per mile/kilometer when the lease is up. So high mileage Maryland drivers should definitely buy.

Will the car be used in your business? Check with your accountant, but both financing options have different tax benefits, depending on your circumstances.

Over the short term, leasing is much cheaper. Medium term, leasing and buying costs are about the same. Over the long haul, leasing always costs more.

Leases may sound a bit complicated, and the typical lease decision weighs more on the monthly payment rather than price. So sometimes Bushwood leasers may pay on a higher purchase price than a buyer would.

Here is a tip: If the salesman asks if you'll be leasing or buying, say you're not sure yet. Make your best deal, then look at your financing options.

Here's another: With a buy or a lease, if you total the vehicle, you'll owe the full amount of the loan, or the balance of the lease payments. Usually, it's less than the vehicle's fair market value, and that's all your Maryland auto insurance company will pay. But ask your Bushwood agent about gap insurance, which pays the difference between fair market value and what you owe. Big consideration for a lease.

Remember, you have to return your leased vehicle in excellent condition and may need to do all the vehicle manufacturer's recommended service and maintenance or face penalties. So see your local advisor at your Bushwood auto repair shop  or Hill's Auto Repair, Inc. on a regular basis, get the required work done and save the service records. It's well worth it.

Hill's Auto Repair, Inc.
22829 colton point rd
Bushwood, Maryland 20618
301-769-2400



Search



Archive

September 2011 (18)
October 2011 (3)
November 2011 (5)
December 2011 (4)
January 2012 (5)
February 2012 (3)
March 2012 (5)
April 2012 (4)
May 2012 (5)
June 2012 (4)
July 2012 (4)
August 2012 (5)
September 2012 (4)
October 2012 (5)
November 2012 (4)
December 2012 (4)
January 2013 (4)
February 2013 (4)
March 2013 (4)
April 2013 (4)
May 2013 (5)
June 2013 (4)
July 2013 (4)
August 2013 (4)
September 2013 (5)
October 2013 (5)
November 2013 (4)
December 2013 (4)
January 2014 (5)
February 2014 (4)
March 2014 (4)
April 2014 (4)
May 2014 (5)
June 2014 (4)
July 2014 (4)
August 2014 (5)
September 2014 (4)
October 2014 (5)
November 2014 (4)
December 2014 (5)
January 2015 (4)
February 2015 (4)
March 2015 (4)
April 2015 (5)
May 2015 (2)
June 2015 (6)
July 2015 (4)
August 2015 (5)
September 2015 (4)
October 2015 (5)
November 2015 (4)
December 2015 (3)
February 2016 (1)
March 2016 (7)
April 2016 (4)
May 2016 (5)
June 2016 (4)
July 2016 (5)
August 2016 (4)
September 2016 (4)
October 2016 (4)
November 2016 (5)
December 2016 (4)
January 2017 (5)
February 2017 (3)
March 2017 (5)
April 2017 (4)
May 2017 (5)
June 2017 (4)
July 2017 (5)
August 2017 (3)
September 2017 (3)
October 2017 (5)
November 2017 (4)
December 2017 (3)
January 2018 (5)
February 2018 (4)
March 2018 (4)
April 2018 (4)
May 2018 (5)
June 2018 (4)
July 2018 (5)
August 2018 (4)
September 2018 (4)
October 2018 (4)
November 2018 (4)
December 2018 (5)
January 2019 (5)
February 2019 (1)
March 2019 (4)
May 2019 (2)
June 2019 (5)
July 2019 (2)
August 2019 (2)
September 2019 (3)
October 2019 (5)
November 2019 (4)
December 2019 (5)
January 2020 (5)
February 2020 (4)
March 2020 (5)
April 2020 (1)
May 2020 (2)
June 2020 (1)
July 2020 (1)
August 2020 (5)
September 2020 (4)
October 2020 (4)
November 2020 (5)
December 2020 (4)
January 2021 (6)
February 2021 (4)
March 2021 (4)
April 2021 (4)
May 2021 (5)
June 2021 (4)
July 2021 (4)
August 2021 (5)
September 2021 (4)
October 2021 (5)
November 2021 (4)
December 2021 (4)
January 2022 (6)
February 2022 (4)
March 2022 (4)
April 2022 (4)
May 2022 (5)
June 2022 (4)
July 2022 (5)
August 2022 (2)
September 2022 (4)
October 2022 (5)
November 2022 (4)
December 2022 (4)
January 2023 (5)
February 2023 (4)
March 2023 (4)
April 2023 (5)
May 2023 (4)
June 2023 (4)
July 2023 (5)
August 2023 (4)
September 2023 (2)
October 2023 (1)
January 2024 (1)
February 2024 (4)

Categories

Air Conditioning (17)Alignment (16)Alternator (6)Auto Safety (6)Automotive News (8)Battery (20)Brake Service (4)Brakes (22)Cabin Air Filter (8)Check Engine Light (6)Cooling System (19)Customer Detective Work (1)Dashboard (3)Diagnostics (5)Diesel Maintenance (2)Differential Service (4)Drive Train (9)Emergency Items (1)Engine Air Filter (2)Exhaust (12)Fluids (17)Fuel Economy (10)Fuel Pump (1)Fuel Saving Tip: Slow Down (2)Fuel System (48)Headlamps (6)Inspection (10)Keys to a long lasting vehicle (4)Maintenance (59)Monitoring System (3)Oil Change (7)Older Vehicles (4)Parts (8)PCV Valve (2)Safe Driving (1)Safety (6)Serpentine Belt (6)Service Intervals (10)Service Standards (13)Shocks & Struts (11)Shocks and Struts (1)Spark Plugs (2)Steering (16)Suspension (3)Timing Belt (6)Tire Rotation and Balancing (4)Tires (10)Tires and Wheels (42)TPMS (3)Transfer Case Service (1)Transmission (11)Trip Inspection (4)Warranty (2)Water Pump (1)What Customers Should Know (81)Wheel Bearings (1)Windshield Wipers (9)Winter Prep (7)Winter Tires (1)

What People Say About Us

  • reviewicon
    , 03/27/2024

    Quick service, I highly recommend.

  • reviewicon
    , 03/21/2024

    The staff was very honest and transparent. They were very professional and helpful and I would definitely trust them with my vehicle again.

  • reviewicon
    , 03/14/2024

    Been using Hills Auto for quite some time now, it’s close and convenient for me. I’m big on small business support, never had any trouble, they aways meet my high expectations. Employees here make you feel at home, some of the best personalities in the automotive field I’ve ever experienced. They are precise, accountable, strive at completing the tasks requested in a timely professional manner.

  • reviewicon
    , 02/29/2024

    The best experience I’ve had with getting auto work done. Customer service and communication is great and pricing is honest. Super friendly and will be recommending to everyone

  • reviewicon
    , 02/28/2024

    everyone is friendly and helpful. Work completed as promised.

  • reviewicon
    , 02/24/2024

    Excellent service, Affordable prices and high Quality Customer service! Leave the dealer behind with confidence and visit HILL’S AUTO!

Call us for service: 301-769-2400

ASE (Automotive Service Excellence)
IATN (International Automotive Technicians' Network)
Jasper
NAPA
BG Products
Amsoil
  • Car Care Aware