Buying vs. Leasing a New Car

In most cities in the United States, having a car to get from place to place is a necessity. Dwellworks Move is here to guide new arrivals through the process of selecting a vehicle in the U.S., using the information found in our “myDwellworks” portal that transferees can use at any point in the moving process and for up to a year after their move in date.

If you are moving your employees to the United States from another country, please be aware that it can be difficult for newcomers to obtain financing for a vehicle without a local work and credit history.

Dwellworks Move recommends partnering with an established automobile services provider whose business offers services and solutions specific to assignees moving internationally. Our clients and customers have successfully partnered with International AutoSource (IAS) for many years; IAS offers flexible financing, low-rate insurance, and low prices on a wide selection of vehicle makes and models. Visit their website to learn more.

Buying vs. Leasing

One of the first decisions you’ll need to make is whether to buy or lease a vehicle. The following information can help you compare the two options:

Buying a car:

• You own the vehicle
• May or may not have monthly car payments (if you buy outright)
• Higher monthly payments (if financing)
• Higher upfront costs
• No mileage limits
• Can sell the car when ready
• May come with limited warranty coverage
• Don’t need to worry about leasing term requirements for wear and tear

Leasing a car:

• You use the vehicle for a period of time, but you do not own it
• Always have a monthly car payment
• Lower monthly payments
• Lower upfront costs
• Limited number of miles you can drive
• Easy to trade-in at end of a contract for a new leased vehicle
• Usually includes warranty coverage for things like maintenance
• Lease terms will include limitations for wear and tear on the vehicle

Registering Your Vehicle

You will need to make sure your vehicle is registered in the state where you reside. Here are 4 things to know about registering your vehicle.

• If you purchase a new or used vehicle from a car dealership, the dealer will coordinate initial vehicle registration, tax, title, and license plates for you.
• If you buy a used car from a private individual or import your car from your home country, you are responsible for registering this vehicle.
• Registration is typically renewed on an annual basis.

Remember, you’re legally required to purchase an auto insurance plan for any vehicle you lease or own. You can learn more about insurance resources in MyDwellworks.