Financing vs. Leasing an INFINITI
When researching a new INFINITI vehicle, you may see the option to lease rather than buy. If you’re not familiar with leasing, you may wonder about the benefits, risks, and costs. Both leasing and buying allow you to get behind the wheel of an INFINITI model, but there are some key differences.
At Glendale INFINITI, we are happy to talk to you about leasing or buying your next set of wheels. We can help you make the best decision for your lifestyle.
One of the primary benefits of buying a vehicle is that you own it. You can do whatever you want with it. Take it on long vacations, add some cool new wheels, or that stereo system you’ve had your eye on. You get to keep it until you’re ready to move on to a newer model.
There are responsibilities that go along with the benefits. You’ll need to have a trade-in or down payment when you come in to purchase your new INFINITI. You also need to maintain your vehicle with routine service and any needed repairs.
Leasing is another great option for those who aren’t sold on buying. There are two big advantages that draw people towards leasing. First, they don’t have to come up with a big down payment. Their monthly lease payments may be less than if they were financing. The second big advantage is that they don’t have to pay for most maintenance, which can cut costs even further.
You will find a few downsides to leasing. The main one is the restriction you face on mileage. You’re generally given a certain number of miles each year or month. While you may not have any issues with daily commutes to work, you’ll have to think twice about using your vehicle for long vacations.
You will be required to fix any dents or scratches that happen during your leasing period to ensure the vehicle is in the original condition at the end of your term. Bodywork can be costly, even if it just involves a paint job and getting a few dents removed.
At the end of the lease term, you may have the option of buying the vehicle outright. You can also decide to buy or lease another vehicle.
Which is the Best Option?
There is no right or wrong answer for everyone on whether they should buy or lease. It depends on how you plan to use the vehicle, how important owning the vehicle is to you, and how often you want to upgrade to a new model.
It’s helpful to sit down and think about your lifestyle, including how much you expect to be driving on a monthly basis. Also look at your budget to find affordable monthly payments and down payment funds. Once you have some basic information, you can talk to the finance team at Glendale INFINITI and find out how you can get your chosen model on a lease or loan.