Purchase or Lease a Vehicle: Which is Best?
No matter which INFINITI model you want to drive home to Panama City, when the time comes to start the process, you’ll want to know if it’s better to purchase or lease the vehicle. Our finance team at INFINITI of Tallahassee has put together a helpful guide to help you decide which option is right for you and your budget. Check out our finance center guide and get the buying or leasing process started on your favorite model from our Tallahassee dealership.
Leasing vs. Buying: Long and Short-Term Costs
When you lease, you’ll have lower monthly payments right off the bat. You’ll also spend less on taxes and the down payment. In the long run, it’ll even out to buying if you start a new lease every few years. With a lease though, you won’t have to worry about repair costs.
Financing will give you the opportunity to eliminate the monthly payment entirely. In order to save more, consider buying used or certified pre-owned. This can be more affordable than leasing new. It’s also important to note that as the vehicle gets older, repair costs could grow.
Leasing vs. Buying: Mileage & Restrictions
If you tend to take long weekend trips outside of Dothan, AL often, then you’ll want to buy your next vehicle. Buying a model means it’s yours to do with as you please. When you lease, you’ll have mileage restrictions. You’ll want to stay within these boundaries or pay a fee when your lease term comes to an end.
The Bottom Line: Those who commute a short distance will find that the vast majority of leases are suitable for their needs. Those who love their weekenders and road trips will likely find financing to be a better fit.
Leasing vs. Buying: Total Ownership and Customization
As mentioned above, buying a vehicle means it’s yours to do with as you please. This means customizing the model to your liking. You can modify your new model with genuine parts and accessories to fit your style needs and more. When you lease a model, it will need to stay as close to manufacturer conditions as possible. This is because the car is still owned by the dealership and they will need to resell it after your lease is up as long as you don’t decide to buy the vehicle or lease it again.
Leasing vs. Buying: Freedom, Options, & Processes
- Financing offers flexibility. While you’re locked into a contract, you can sell or trade the vehicle at any time as long as it’s worth more than you owe. You could also refinance for a lower interest rate down the line.
- Leasing is easy and convenient. As long as you take good care of the vehicle while it’s in your possession, you can drive it back to our lease return center at the end of your lease term and drive home in a new vehicle. You could also have the option to buy the vehicle outright and drive it home to Pensacola for good.
Explore Leasing and Financing Options at INFINITI of Tallahassee
When you’re ready to get pre-approved for your next vehicle, trust our finance team at INFINITI of Tallahassee to help. In the meantime, check out our new vehicle inventory and contact our team with any questions. We also offer new vehicle specials for additional savings.