The decision to buy or lease a car is a dilemma experienced by many car shoppers. When you buy or finance a car, you either pay a big lump sum right away if you have the money on hand, or you agree to make monthly payments for a couple years, which is the more common scenario. Eventually, these payments will end, and you will have your own car with no payments to make. Leasing is a bit different. When you lease an INFINITI, you will basically pay monthly “rent” on the car until you don’t want to pay for it anymore or until the contract expires. In that case, you return the car and stop making payments. When should you consider leasing instead of buying?
You might also be interested in: When to get an oil change
Benefits of leasing a car
Perhaps the biggest perk of leasing is that drivers can upgrade their car about as often as they upgrade their smartphone. Actually, an even bigger pro of leasing a car is that the monthly payments are almost always lower than if you were to buy the same car. Two pretty solid perks, right? You also will stay up to date on technology by leasing, have a smaller down payment, and generally save more on taxes. However, most leasing contracts have mileage restrictions and excess wear fees since it is assumed you will eventually trade the car back in. If you intend to upgrade your car frequently and can wiggle around the contract restrictions, leasing a car is a fun way to go.
Benefits of buying a car
Buying a car is much more common because people like to own their things. Obviously, the biggest benefit of buying a car outright is that the monthly payments eventually end. A lease will go on forever, in theory, while buying a car means that the amount will be paid off in the future. Nobody can tell you what mileage you can and can’t put on a car you buy. For that reason, rural residents and people with long commutes should almost always buy instead of lease. You can also afford to have less than excellent credit to buy a car. Leasing usually requires impeccable credit, but almost anyone with average credit can buy a car with no issues.
Contact us with more questions you have
