Leasing vs Buying a Vehicle: What You Should Know

Lease or Purchase?

Deciding to lease or purchase your next vehicle is a big decision, as both options have benefits. Below, we will discuss some key factors to consider when selecting your next vehicle. Mike Ward INFINITI in Highlands Ranch, Colorado, can assist you in purchasing or leasing your next brand-new INFINITI car, crossover, or SUV.  Please call our expert staff at 303-350-4300 to schedule a test drive.

Should I Lease My Next INFINITI?

If you are not familiar with leasing, it is basically paying to use a vehicle for a specified amount of time.  If your priority is having the option to switch up what you’re driving often, leasing would be a great choice for you.  Leasing also generally means a lower up-front cost, lower monthly payments, and no hassle of reselling later on.  At the end of the lease term, you can turn the vehicle back or you can purchase the vehicle, if you choose.  Some downsides of leasing include not owning the vehicle outright, a mileage limit, and possible fees associated with the condition of the vehicle when turning the vehicle back in at the end of the lease term.

Should I Purchase My Next INFINITI?

Purchasing a vehicle is pure ownership outright.  When you purchase a vehicle, you can choose how many miles you want to put on it, you won’t have fees associated with leasing, and you have the potential to build equity.  You save more money in the long run if you drive it for as long as possible, instead of having to acquire a new vehicle at a lease end.  But there are some downsides to purchasing like that; your vehicle depreciates, especially depending on the condition of your vehicle. Usually, the monthly payment is higher for a purchase since you are paying off the entire value of the vehicle.