Buying vs. Leasing

November 6th, 2018 by

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If you’re looking for a new Jaguar model but are unsure of whether buying or leasing is right for you, there are a few things to consider. The answer will ultimately come down to what works best for your Delray Beach driving needs. There are benefits to leasing and buying, so let the team at Jaguar Palm Beach walk you through the pros and cons of both!

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Benefits of Buying

There are several advantages to buying or financing vs. leasing, including:

  • No Mileage Restrictions: If you’re driving your vehicle inside and outside of the Wellington area, you may want to consider buying. Without mileage limits like you get on a leased vehicle, you’re free to drive as much as you want.
  • Total Ownership: Buying a vehicle means it’s yours completely. This means you are free to do with the vehicle what you please. There are no restrictions on how it’s modified, decorated, etc.
  • Customization: Want to make your new vehicle stand out among the crowd? Buying rather leasing allows you to make cosmetic and mechanical changes as you see fit. Create the car of your dreams without restriction.
  • Ability to Sell:Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
  • Financing Options: While leasing isn’t a massive headache, the car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
  • Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.

Benefits of Leasing

  • Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth on the down payment and for the monthly payments.
  • Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local West Palm Beach dealership, pay any remaining fees, and drive away in your next vehicle of choice.
  • Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as any issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.
  • Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle. You’ll have tons of options and be able to find the perfect model and features for you.
  • High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.

Explore Leasing and Financing Options at Jaguar Palm Beach

There are pros and cons to buying vs. leasing, so there is no best option. Ultimately, it will come down to what works best for you. However, the finance experts at Jaguar Palm Beach are here to help you find a solution that works for you. Explore our  Jaguar finance specials, and contact us if you have any questions!

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