 | Dawson Grimsley
is President of the DAVIS-MOORE AUTO GROUP - and the automotive industry is in his blood. So is a genuine concern about safety, and about the community in which he lives and works. Three and a half years ago, the DAVIS-MOORE dealerships embarked on an unconventional advertising campaign promoting safety issues rather than car prices. Not only has the campaign increased business, it has also generated positive response from the public, and a heightened awareness of driving safety in the Wichita community. It has also resulted in a number of local, state and national awards. In Wichita, DAVIS-MOORE owns 7 new car franchises (Chevrolet, Dodge, Oldsmobile, Jeep, Lincoln/Mercury, Nissan & Mazda), and 7 used car dealerships. Dawson Grimsley may be contacted by phoning DAVIS-MOORE at (316) 618-2000. |
Cars, Trucks, Vans & Automotive
2001-10-01 09:51:00
Leasing versus buying
Question: I own my own small business. I am the only employee. I need to change cars. What are the advantages of buying versus leasing?
Answer: These days, when you consider the cost of new vehicles and how they hold their value if they¹re well cared for, buying instead of leasing makes a lot of sense. However, if you know going in that you¹re going to be putting more than 12,000-15,000 miles on the vehicle annually, your monthly lease payments could be very high. Worse yet, if you don¹t anticipate putting a lot of miles on the vehicle, but end up going considerably over your mileage allowance, you could be hit with some very high costs when it comes time to turn the vehicle back in.There are however advantages to leasing: For instance, if you know you won¹t be putting more than 12,000-15,000 miles on the vehicle each year, and the vehicle you want is expensive, leasing could definitely help keep your monthly payment down.When it comes to buying versus leasing, my advice is to check with your accountant, who should know your particular financial situation. And, take good care of your vehicle. Whether you buy or lease, how well you care for your vehicle will ultimately determine its true value.
