Buying vs Leasing a Chevy Tahoe

April 22nd, 2019 by

Have you been thinking of getting a new Chevy Tahoe for your family to grow into?

The Chevrolet Tahoe ranks #2 in the large SUV category and is one of the most powerful SUVs on the road. Its newest version has an excellent reliability rating – and is the right car if you need strength, performance, fuel efficiency and comfort from a vehicle.


“Buying or leasing a Chevy Tahoe each has their own advantages.”


However, depending on your budget, you may also be thinking about buying a used Chevy Tahoe. And subsequently you think whether buying or leasing is a better option for you.

So read on as we run you through the pros and cons of buying and leasing both a new and used Tahoe to help you make an informed decision.

new Chevy Tahoe, used Chevy Tahoe

Buying a New Chevy Tahoe

New Chevy Tahoe, used Chevy Tahoe

Pros

  1. You get to experience the all-wheel-drive SUV first-hand by investing in a new Chevy Tahoe. It has the new Magnetic Ride Control that offers you a smooth and quiet ride on any terrain.
  2. The latest model comes with a powerful 6.2-liter V8 engine and an impressive 420 horsepower, which means it can haul huge loads of cargo efficiently.
  3. Speaking of the interior, the new Chevrolet Tahoe is exceptionally spacious with plenty of wiggle room for all the passengers in the three rows of seats.
  4. With a strong exterior body, Chevy Tahoe is highly durable and has a towing capacity of up to 8,600 pounds.

Cons

  1. When you buy a car, you end up owing on it for many years and the resale value depends on how well you maintain it.
  2. As with any full-size SUV, the Tahoe’s gas mileage is not great and it is somewhere in the middle of the class. You can see this especially when you drive uphill, with an average of 16 mpg in the city and 23 mpg on the highway.
  3. The third-row seats seem a little congested even for two adults, but can seat three children very comfortably.
  4. Compared to its competitors, Chevy Tahoe has a lesser storage space of 15.3 cubic feet. It is expandable to 51.7 cubic feet, and 94.7 cubic feet with the third row and the last two rows of seats folded down.

“Make considerable savings by buying or leasing a used car.”


Leasing a New Chevy Tahoe

Pros

  1. New Chevy Tahoe, used Chevy TahoeThere is no need for a down payment when you lease a new Tahoe. Just by making the payment for the first month, a security deposit, some fees, and a few taxes, you can lease the car.
  2. Compared to when you buy a car, your monthly payments are significantly lower.
  3. You have the option of buying back the vehicle after the lease period is over, or you can trade it in. Talk to Dan Cummins to learn about your options and make the best choice.
  4. The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less.

Cons

  1. Since you don’t need to make a down payment, and you lease it via a finance company, you do not own the car. Delay in payments might mean they can repossess it.
  2. You don’t need to bother about selling the car, but you need to take care of the wear and tear guidelines and mileage limits in your contract. If you exceed those limits, it could cost more to turn the car in.
  3. The upfront payment could go up if you want to have lower monthly payments.

new Chevy Tahoe, used Chevy tahoe

Buying a Used Chevy Tahoe

Pros

  1. New Chevy Tahoe, used Chevy TahoeLet’s say that a new Chevy Tahoe costs around $48,000. If you invest in a pre-owned car, which has already lost the depreciation value, it will cost you much less.
  2. The latest Tahoe generation began in 2015, but there are not many notable additions made to each new release. Except for the optional Premier Plus edition, your old Tahoe purchase might be as good as a new one.
  3. Insurance rates for used cars might be low, with many insurers even willing to drop the theft or collision charges if your car is much older.
  4. Even if you finance the car, you are the owner after you pay in full. Also, the registration cost depends on the value of the car, so that, too, comes down.

Cons

  1. If you don’t dig into the vehicle history, you could end up with a ride with lots of hidden issues, and it might not include warranties. Hence, try to look for a certified pre-owned Tahoe to get a proper service program.
  2. Compared to buying a new car, you might have to get a maintenance check much sooner, like getting new brakes or tires.

“Buying or leasing a new or used car depends on your priorities.”


Leasing a Used Chevy Tahoe

Pros

  1. New Chevy Tahoe, used Chevy TahoeLeasing offers lower monthly payments when you cannot get your dream car: a new Chevrolet Tahoe.
  2. You can make an easy and hassle-free purchase after the time ends on leasing a used Tahoe.
  3. Sales tax might be lower, as you only pay for the depreciation during the lease time.
  4. Due to the age of your Tahoe, your insurance rates might be lower than if you lease a new one.
  5. You can trade it for an upgrade, and the burden of selling it falls on the financial institution who owns your leased car.

Cons

  1. Bumper-to-bumper warranties can get a bit expensive.
  2. You might have to face wear and tear and maintenance issues more often.
  3. You cannot predict the future value of the used Tahoe if you decide to buy it after the lease.

Let Dan Cummins Help You Find a Pre-owned or New Chevy Tahoe

Depending on your requirements, choose a Chevy Tahoe to buy from the new and used Chevy Tahoe models available at Dan Cummins. Or, if you want to lease a pre-owned or new car, we have great programs for you.

Call us at 859-987-4345 to speak to one of our executives or click below.

new chevy tahoe, used chevy tahoe

Buying vs Leasing a Chevy Tahoe | Dan Cummins Chevrolet & Buick – Louisville, KY

Posted in Kentucky Chevrolet