South Motors Infiniti’s Guide to Leasing vs. Buying
Lease and purchase loans are simply two different methods of automobile financing (leasing is NOT renting). One finances the use of a vehicle; the other finances the purchase of a vehicle. Although financial considerations often dominate conversations about whether to lease or buy, it is also important to consider what is important to you as the driver.
If you are interested in driving a brand new car every two to three years, having the advantage of included service, are looking for lower monthly payments, drive an average number of miles, leasing is probably the better option for you.
On the flip side, it you don’t mind higher monthly payments, like the idea of ownership of a car and having something to show for your payments, don’t mind the cost of unexpected repairs, drive more than average miles and expect lifestyle changes in the near future, then buying is a better option for you.
Neither is better than the other, it is simply just more likely that one fits you and your situation better than the other. Leasing can often be confusing, in some situations, leasing can be less clear cut than your typical purchase loan, simply because many people are already familiar with the former.
Here are a few questions to ask when thinking about leasing a vehicle:
- What is the actual value of this car?
- What is my lease end residual value?
- Does my lease include GAP coverage?
- What is the depreciation charge?
- What is the finance charge?
After taking all of these factors into account, and considering your needs and wants, it will become clear which is better for you. No matter what you choose, Infiniti has options to help you get into your dream car.
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