Buying vs. Leasing an EV in Oklahoma – What to Know Before Buying for Sale near Oklahoma City, OK

June 18th, 2024 by
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2024 Porsche Taycan EV charging at a EV station

As electric vehicles continue to make gains on gas vehicles on the road, it can be hard to know if it’s better to lease or purchase your next EV. While each offers its own perks and drawbacks, at the end of the day, the best option will depend on your unique circumstances. We’ll look at what each option offers so you can decide which makes the most sense for you. Bob Moore Auto Group is based in the Oklahoma City metro area, with dealerships serving surrounding towns like Norman, Edmond, Moore, and beyond. We’re looking to the future to help ensure Oklahomans can get great EVs at a reasonable price. Visit one of our locations to explore our inventory of electric vehicles for sale today!

 

 

Reasons to Buy an Electric Vehicle

The most apparent benefit when you finance a new EV is vehicle ownership. You won’t find any mileage restrictions or additional fees as you drive your vehicle. When you fully pay the vehicle off, you can drive it as long as you like, trade it in, or sell it at any time. If you elect to finance your purchase with Bob Moore Auto Group, you’ll often be able to walk out of the store with no up-front cash payment. We’ll also work with you on a flexible payment plan over multiple different timeframes to ensure we find something that fits your budget. Purchasing a new EV with Bob Moore Auto Group also helps to ensure that you get all available warranties on the vehicle, with limited warranties offering four to six years of coverage for your vehicle. Purchasing a new EV also may make you eligible for the $7,500 tax credit on new EVs sold, depending on the model. Explore our inventory of new EVs for sale online!
 

Reasons to Lease an EV

Leasing an electric vehicle comes with its own set of benefits! While you don’t get the freedom to sell your vehicle like when you purchase, leases typically encompass a shorter timeframe, giving you the freedom to upgrade or purchase your vehicle at the end of the lease. In addition to a shorter timeframe, leasing a vehicle often comes with lower monthly payments, allowing you to get into a more premium vehicle than you could if you purchase. Leasing plans also typically include maintenance plans built into your lease, ensuring you never have to worry about when your vehicle next needs maintenance. Lease terms can also be very flexible, so be sure to ask our finance team to see how we can help craft terms that make sense for you. Leased vehicles are also available for various tax credit programs, including the federal one, ensuring you save more with select models. When you start a lease with one of our dealerships, you’ll be enrolled in our loyalty programs, including benefits like waived fees and end-of-term programs to help get you in your next vehicle for a lower price! Contact one of our dealerships to learn more about their lease specials!

Volkswagen Id 4 charging at a EV charging station' overlay of I-phone showing car battery health

 

Bob Moore Financing & Leases

While leasing and purchasing both have distinct advantages, there are downsides to both that are worth covering. Leases typically come with mileage restrictions to ensure the vehicle’s resell value remains high. There may be fees associated with exceeding your vehicle’s mileage limit. Financing a vehicle will be more expensive over the term of the agreement, meaning less flexibility on cars you can select from a budget perspective. Understanding the documents you sign when you purchase or lease is essential. Our dealership’s in-house financing departments are dedicated to helping you find the right car and will help you with any finance questions you have. Take advantage of our online resources, such as our payment calculator, car-buying tips, and trade-in calculator! Visit one of our EV dealerships like Bob Moore Cadillac, Bob Moore Volkswagen, Bob Moore Kia,  Bob Moore Nissan, Bob Moore Buick GMC, or Porsche OKC today.

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