Should I Buy or Lease a Car?

Are you shopping for a new sedan or SUV for Glendale drives? Is it time to elevate your daily commutes, weekly errands, and weekend getaways to Vegas or Tahoe? Consider getting a new vehicle with either a lease deal or an auto loan from INFINITI of Downtown LA. We have a wide selection of premium or high-performance vehicles to choose from, such as the INFINITI Q50 sedan and the QX80 full-size SUV.

You might want to know the differences between leasing vs. buying to understand your options when you want something brand-new to drive for a couple of years. Are you thinking, “Should I buy or lease a car?” This guide from the team at INFINITI of Downtown LA answers that question and more so you can decide what’s right for you.

Should I Lease a Car?

So, should you buy or lease a car? When you choose to lease, you are essentially renting a new vehicle for a long-term contract period. The main advantage of leasing over buying is that your monthly payment and down payment are generally lower. Sales tax will also be lower because you’re only paying sales tax on the value of the lease rather than the entire vehicle. So, your overall upfront costs are less in the leasing vs. buying debate. 

Another major advantage of leasing vs. buying is flexibility. When your lease is up, you can choose one of four options: 

1. Renew the lease and keep your current vehicle.
2. Start another lease while swapping out your two-year-old vehicle for a brand-new one.
3. End the lease agreement.
4. Finance the remaining value of your lease to own the vehicle outright. 

Should I Buy a Car? 

When getting an auto loan to finance a vehicle, you get a loan on the full value of the vehicle You own the car, truck, or SUV outright after you pay the loan in full. If you choose to sell it, you reap the entire profit from the sale to do with as you wish. The downsides of buying over leasing are that you’ll need a larger down payment, pay more sales tax, and make larger monthly payments. But you have more control over how you use the vehicle in Downey when compared to a lease. 

Leasing vs. Buying: Mileage & Restrictions

• When financing with the intent to pursue full ownership, you will not have to worry about mileage limits or restrictions. Drive around Van Nuys to your heart’s content! 
• When leasing a vehicle, you must remain within certain mileage boundaries or pay a fee at the end of your lease term. You may have to keep the mileage under 10,000 annually to ensure the engine stays in top condition because leased vehicles usually end up becoming certified pre-owned models. 

Leasing vs. Buying: Total Ownership and Customization

• When you buy a vehicle (or finance its full cost), you can add all the accessories you want! Consider floor mats, cargo racks, a spoiler on the back, or any modifications you want. You have complete control over buying and financing, but remember that some parts you install may void your vehicle warranty.
• When you lease, you’ll need to keep the vehicle in as close to factory condition as possible. The dealership still owns the vehicle while you lease it from them, and they’ll try to sell it after the vehicle is turned back in. 

Buy or Lease Your Next INFINITI From INFINITI of Downtown LA!

Ready to take the next steps? Contact us online or call 213-927-5029 to talk to our team or schedule a test drive in Los Angeles. Meanwhile, look over our new vehicle specials to see if you could save a pile of cash on your next purchase or lease.