Buy vs. Lease | Auto Financing

Buying vs. Leasing: Which Should You Choose?

Deciding whether to buy or lease can be tricky. While buying your next car gives you the freedom to do whatever you want with it, leasing makes it much easier to have a vehicle with the latest bells and whistles. As most drivers around Long Island and Staten Island will come to find, there are several factors. So when you’re looking at new vehicles for sale, it’s worth diving into the details about whether you’re better off financing or leasing.

Benefits of Leasing

When you choose to lease, you are essentially borrowing your Jaguar model for a predetermined period of time. When the lease term is up, you can return the vehicle, and in some cases, you might have the option of buying it outright. Some of the advantages of leasing include:

Cost – Leasing a vehicle usually requires a smaller down payment and a lower monthly payment than purchasing one. With a lower down-payment, you may be able to get the car you want at a price you can afford.

The Latest Features – Most leases last 24 or 36 months, meaning that, when your lease ends, you can return the vehicle and swap it out for an even newer version.

Benefits of Buying

Huntington drivers may find that the advantages of financing work better for them than leasing. Some of the advantages of that approach include:

You Own It – You’re building equity with each payment you make. Whether your loan lasts 36, 48, or 60 months, you’ll own the car at the end of it.

Customize – Since you’ll own the car, you can make whatever modifications you please. Want a new paint job or stereo system? When you buy, you can do that!

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