Should I Buy or Lease?

Woman Standing Outside of Car With Keys
If you’re unsure about the fundamental differences between a lease vs. buying your next car, you’re in the right place. Princeton, NJ drivers would be surprised to know that most people don’t know much about the unique advantages of either of these financial strategies. Read on to learn more about your options, and then apply for a pre-approval and call (609) 454-2358 to get the process started.

Benefits of Buying

Should I buy or lease? Most Hamilton, NJ car shoppers will begin their car journey by asking themselves this question. Here are a few of the advantages of buying your next vehicle:

  • No Mileage Restrictions: When you lease, you get penalized when you drive over a certain number of miles each month. That’s not the case when you buy your car.
  • Total Ownership: When you pay off your car, you’ll own the equity of its residual value, so you’ll see a nice chunk of your investment returned when it comes time to sell.
  • Customization: Unlike with leasing, you’ll have the right to customize your vehicle however you see fit when you choose to buy.
  • Flexibility: Since you’re not tied to a lease contract, you’ll have the right to sell your vehicle whenever you’d like.
  • Less Cost Over Time: If you can afford the much larger initial investment required by financing, and you’re in a good place to pay a loan off over a long period of time, financing is cheaper in the long run.

Benefits of Leasing

  • Lower Payments: When Newtown, PA drivers choose to lease, they’ll enjoy lower monthly payments. They also won’t be expected to make nearly as large of a down payment.
  • Less Sales Tax: Most states require much less sales tax when you choose to lease. In fact, in some states, you’ll only have to pay sales tax on your down payment.
  • Trade-Ins: When you choose to lease, you’ll be able to trade in your vehicle at the end of your term for a new one, meaning you’re in a position to try out the latest automotive technologies every 3 years.
  • Buyouts: You can always opt to buy the vehicle you lease at the end of your term, and since you’ll only have to finance the remaining value of the vehicle, it’s a sound investment.
  • Great Coverage: Lease vehicles are still under their vehicle warranty, which means that you won’t have to pay for maintenance or repairs.

Reach Out to Haldeman Lexus of Princeton to Discuss Your Options

Still asking yourself, “should I buy or lease?”. Then let the financiers at Haldeman Lexus of Princeton look at your financial situation and your automotive needs and help you determine what the best option is for you. Whatever you choose in lease vs. buying, we’ll make sure you get a competitive deal that works for your monthly budget. If you have any other questions about car shopping, explore our car buying tips for informative reads on topics like the costs of extended warranties.

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