If you like to drive newer, safer, more reliable cars, but prefer not commit to a big down payment every 3-4 years, and also do not travel an enormous amount yearly, then a new car lease should be better for you. Leasing is ideal for those who would prefer to avert the annoyance of selling and buying every time they want to drive a new vehicle.
Contrarily, if you prefer long term relationships with a larger sense of commitment and ownership, then buying might be what’s right for you. Car-buying is typically best for drivers who don’t mind driving the same vehicle for more than five years or even until it is no longer fit for the road.
Being aware of the pros, cons, and overall benefits of leasing vs buying a car, truck, or SUV is important. Be sure to consider repair costs, vehicle ownership, monthly payments, and potential savings when weighing the pros and cons of the best new car financing type for you.
When considering vehicle financing, new car, truck, or SUV ownership absolutely comes with many well-known advantages, most associated with entire ownership of the car. You may not realize, however, there are also a few nice upsides of leasing, as well. It’s imperative to consider all financial aspects including buyout payments, down payment, monthly payments, term length, interest rate, depreciation, and maintenance & repair costs, before making a decision. A close checkup of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car.
Car lease payments are often less expensive compared to auto loan and car financing payments as the standard lease contract is more-or-less renting with the option to purchase at the end of your lease term. Keep in mind when leasing that you’ll need a good credit score, and will be asked to carry collision and comprehensive insurance, although the same can be said for the lower rate auto loans. Though it might likely add to your monthly payments, it is also smart to select a model with the features you need or want, as personal satisfaction is often priceless.
Auto leasing often includes regular vehicle maintenance & repair. It is important to remember this when calculating monthly costs of leasing vs ownership. No matter which make and model you choose, mechanic bills are an unpredictable cost that can rapidly add up. And for those of us who aren’t certified mechanics with a full toolset and hydraulic jack in the garage, leasing is likely the best option for peace of mind.
In general, a new car, truck, or SUV lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For your best investment on a purchased/financed vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.
| Lease | Buy | |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Ownership | No Ownership | Pride of Ownership |
| APR % | Credit-Based | Credit-Based |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Vehicle Customization | Not Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
| New Vehicles | Available | Available |
Jaguar Albuquerque knows that choosing the right Jaguar car and financing option is never easy. Our team of experienced Jaguar lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Albuquerque, NM. We look forward to serving you.
The personnel in the service department is always ready to help whatever is needed. Each of the persons listed below where exceptional in their own job. Chad is an excellent sales person, efficient but at the same time not pushing, something that we really appreciate. John help us a lot to make the best decision, Danny helped us explained very well the coverage of the insurance, he also helped us with the applications of the LandRover and show us how it works. We had a problem with the vehicle with a constant beeping for no reason. Nichole when out her ...
Had a great experience with this purchase. Everyone at the dealership was friendly and helpful. Everyone knows car buying can be stressful. To avoid dealing with dealer nonsense and haggling- I was preapproved for my loan prior to going into the dealership and had a great finance rate- but they were able to get me an even lower rate. They answered all my questions and were able to get me in and out quickly. Chad was great to work with. My only negative is that they close early and aren't open on Sundays-- but other than that will definitely ...
It was a great experience from start to finish including the financing. The next thing I want to say is that they took great care of the car before the sale.
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(505) 797-3600
Call Now5010 Alameda Blvd NE Suite A • Albuquerque, NM 87113
Get DirectionsOpen Today! Sales: 8am-6pm
Open Today! Service: 7:30am-6pm
Open Today! Parts: 7:30am-6pm
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