The choice to buy or lease a car can be a difficult one to make for many drivers. It’s a very subjective decision, as both options are good. As your INFINITI dealer, we’d like to give you some advice on both options so you can make the right decision for you and your lifestyle.
Advice From Your INFINITI Dealer: Should You Buy or Lease a Car?
Benefits of Buying
If you choose to buy, you’ll purchase the vehicle with cash or finance. The vehicle now becomes your property, and you receive the title to confirm ownership. These are some of the reasons to buy:
You Drive a Lot
If you regularly commute long distances or just want the freedom to drive wherever or whenever you want to, buying is the better option.
You Like Customization
Since you own the car, you’re free to customize it to suit your needs and personality.
No Additional Charges
Aside from the purchase price, the only additional payments you have to make are for your vehicle’s servicing and maintenance.
Disadvantages of Buying
There are some disadvantages to buying. Depreciation reduces the value of any car. If you’re paying your car off, this can mean that you’re effectively paying more than your car is worth. In addition, maintenance can add up if you don’t include it in your budgeting.
Benefits of Leasing
If you choose to lease, you sign a contract with your dealer for the car you want. This lease has a duration of two to five years. At the end of this term, you can renew the lease, lease a newer model, or buy the original vehicle. These are some of the reasons to lease:
Zero Maintenance Costs
When you lease a vehicle, its servicing and maintenance costs are included in your monthly lease payment.
You Don’t Drive a Lot
A leased vehicle has a mileage restriction. In the contract, it specifies your total mileage per month or year. If you exceed your total mileage, you have to pay for the additional miles. If you drive infrequently, you’ll often find that you don’t use all of your allocated mileage.
New Car Option
If you like the idea of always having the latest model with the most up-to-date technology, leasing is a great choice. As we saw above, when your lease expires you can choose the latest model and sign a new lease.
Disadvantages of Leasing
When you lease a car, you can’t alter or customize it. The vehicle must be returned in its original condition. If you damage a lease vehicle, you’re responsible for the cost of its repair.
If you’d like to know more, or you’ve made your decision, contact us today at Edison INFINITI in Edison, NJ.
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