Is it better to lease or buy a luxury car? Discover the benefits of each option so you can make a decision that aligns with your lifestyle and financial goals.
Choosing whether to lease or buy a car is a decision that hinges on your lifestyle, financial goals, and driving habits. Maybe you’re drawn to the idea of driving the latest model every couple of years, or perhaps you’d rather work towards owning a car outright. Either way, we understand what it’s like to be torn between leasing and buying.
Fortunately, you don’t have to decide on your own. We’re here to help explain the key advantages of each option so that you can embark on the path to the luxury car of your dreams.
When you lease a new car, you agree to make monthly payments to drive a car for a set term. Once that term is over, you return the car to the dealership. On the other hand, when you purchase a vehicle, it’s yours to keep once all payments have been made, allowing you to drive it as much as you want without worrying about mileage or term limits. At the end of the day, choosing whether to buy or lease a luxury car depends on your priorities and lifestyle — do you prioritize the flexibility of leasing or the freedom of ownership?
The most compelling advantage of leasing agreements is the financial flexibility they can provide. Since leasing often requires little to no down payment, obtaining a luxury car is typically more accessible when you need or want to allocate your finances elsewhere. Additionally, monthly lease payments are generally lower than if you got a loan to purchase the same model. Ultimately, this affordability allows you to experience high-end vehicles that might otherwise put your cash flow and other financial obligations at risk.
At the end of your lease term — generally 24–36 months — you’re responsible for returning the vehicle. This can be both an advantage and disadvantage of leasing. On one hand, you have to say goodbye to a vehicle you’ve grown accustomed to. On the other, you don’t have to deal with wear and tear and can upgrade to another car that may have more advanced technology, modern body styling, and safety features.
Leasing is also perfect for those who want to try a variety of vehicles before they settle down. Whether you’re looking for a sporty coupe for adventure, a spacious SUV for the family, or a sleek sedan somewhere in the middle, leasing allows you to adapt your vehicle choice to your evolving tastes and needs.
Another bright side to leasing a vehicle is that you don’t have to deal with wishy-washy independent buyers or try to squeeze out every nickel and dime from your trade-in price to make a new vehicle financially viable when you’re ready to move on from your previous one. Instead, you simply return your car to the dealership when your lease ends and choose another vehicle to lease or buy once you’re ready.
While the initial down payment and monthly payments of buying a vehicle may be more substantial than leasing one, you’re investing in equity. Each time you make a car payment, you’re paying off the car instead of “renting” it, which means the only value lost is from interest and depreciation. In the long term, you own your car outright, so the only financial burdens are fuel costs, maintenance, and insurance.
Unlike when you sign a lease contract, buying a car doesn’t require agreeing to any mileage limits. This gives you the freedom to drive as much as you want or need to without incurring additional fees, which can be crucial to those who have long commutes, embark on recreational road trips, or have unpredictable mileage habits.
Additionally, buying might be the best route for those who like to customize their vehicles since you won’t have to return your vehicle in showroom condition. This enables you to change paint colors, upgrade the sound system, install aftermarket parts, and ultimately create a vehicle that is uniquely yours, should you choose.
Depending on the make and model of the luxury vehicle you purchase, it can retain some serious resale value, especially if you maintain it well. If you ever decide to get rid of your car, you can sell it to a private buyer or trade it in at a dealership. Either way, the equity you’ve gained from making monthly payments goes back into your pocket, where it can be used for other purchases or invested into another vehicle of your choosing.
Ultimately, the choice of whether to lease or buy a luxury car is yours, but when you’re ready for a new INFINITI, Ed Hicks INFINITI in Corpus Christi is here to help. We offer many financing options, and our experts are ready to ensure you get the right finance program at the best rates. Shop our selection of luxury vehicles online or browse in person at our showroom.
