New Car Lease vs Buy

Leasing vs Buying

Why Should You Lease a New Car?

If you prefer to drive newer, safer, more reliable cars, trucks, or SUVs, but not make a big down payment every few years, and also do not travel an enormous amount every year, then a new car lease may be right for you. Leasing is better for people who prefer to escape the hassle of selling and buying each time they want to drive a new vehicle.

Why Buy a New Car?

Contrarily, if you like long term relationships with a higher sense of ownership and commitment, then buying could be what’s best for you. Car-buying is typically best for shoppers who will not mind driving the same car for over five years or even until it’s no longer fit for the freeway.

Leasing vs Buying: Which Is Right for You?

Knowing the pros, cons, and overall benefits of buying vs leasing a vehicle is important. Be sure to examine factors like potential savings, vehicle ownership, monthly payments, and repair costs when considering the best new car, truck or SUV financing type for you.

Leasing vs Buying: Ownership

When considering vehicle financing, new car or truck ownership absolutely comes along with many well-known advantages, most associated with entire ownership of the car or truck. You may not realize, but, there are also a few great advantages to leasing, as well. It’s important to consider all financial aspects including buyout payments, down payment, monthly payments, term length, interest rate, depreciation, and maintenance & repair costs, before making a decision. A precise audit of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the optimal choice between leasing and buying a new car.

leasing vs buying a new car benefits

Monthly Payments

Car lease payments are often less expensive when compared to car financing and loan payments as the normal lease layout is basically renting with the option to buy out at the end of your lease term. Consider when leasing that you will need a nice credit score, and will be required to carry comprehensive and collision insurance, although the same can be said for the best rate auto loans. Though it may add to your monthly payments, it’s also best to get a model with the features you want or need, as personal satisfaction is often priceless.

why leasing a car is smart

Maintenance & Repair

Auto leases often include regular vehicle maintenance & repair. It is important to keep this in mind when calculating monthly costs of ownership vs leasing. Regardless of which make and model you select, mechanic bills are an unpredictable cost that can rapidly add up. And for those of us who aren’t certified mechanics with a full toolset and hydraulic jack in the garage, leasing is likely the best option for peace of mind.

analysis of leasing vs buying a car

Savings vs Investment

Generally speaking, a new car or truck lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning outright ownership of the value of the car, truck, or SUV at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for going over mileage, terminating the vehicle lease early, or putting on excessive wear and tear. For your best investment on a purchased/financed vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.


Lease Buy
New Vehicles Available Available
Pre-Owned Vehicles Not Available Available
Vehicle Customization Not Available Available
Poor Credit Financing Not Available Available
APR % Credit-Based Credit-Based
Ownership No Ownership Pride of Ownership
Down Payment Smaller Down Payment Larger Down Payment
Monthly Payment Smaller Monthly Payments Larger Monthly Payments
Savings/Investment Short Term Savings Long Term Investment
Finance Term Approx. 2-4 Years Approx. 3-6 Years
Maintenance & Repair Costs Typically Included Not Included


Lexus Lease and Finance Offers In Santa Fe NM

Lexus of Santa Fe knows that choosing the right Lexus car and financing option is never easy. Our team of experienced Lexus lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Santa Fe, NM. We look forward to serving you.


DealerRater logo
DealerRater Mar 5, 2019

I have purchased 2 vehicles from this dealership. They always take excellent care of me and their prices are always fair. I like this dealership more than the Albuquerque store.

Read at DealerRater

DealerRater logo
DealerRater Feb 5, 2019

Chris Ortega was extremely attentive and caring for someone who required a full education on specifics about her new Lexis hybrid, He was super patient through three tutoring sessions that I requested, addressing each concern and, in every case, giving practical solutions. Also he worked hard to make the financial part acceptable. Soon after, I had to drive to California, had a great trip knowing what to expect and how to deal with whatever might come up. Rest assured that he is putting out exactly what you would hope Lexis stands for!

Read at DealerRater

DealerRater logo
DealerRater Nov 15, 2018

2018 IS300 Chris Ortega is Phenomenal. Words cannot express his knowledge of LEXUS in every aspect. I cannot have asked for a better experience. I highly recommend LEXUS but most of all the patience, intelligence, and kindness CHRIS exhumes. I Definitely will be referring LEXUS and Chris Ortega! Thank you for making my Dreams come true! Monica Duran

Read at DealerRater

DealerRater logo
DealerRater Sep 12, 2018

Chris continuously went above and beyond to satisfy what I wanted in a car buying experience including driving the car from Santa Fe to Albuquerque, delivering it to my front door, walked me through setting up my phone AND thru the car features.

Read at DealerRater

DealerRater logo
DealerRater Aug 31, 2018

I told Chris I needed a car, somewhat serious but not committed. He showed me an option I actually really liked, asked me what kind of payment I was looking for, and made it happen for me! Very professional and easy to work with. Good personality that keeps it real and made it feel like he was there for me, not the other way around. Keep up the good work, awesome employee!

Read at DealerRater

DealerRater logo
DealerRater Aug 31, 2018

Cold drink on a hot day, professional and polite, no pressure, great communication via email and telephone, very knowledgeable of vehicle, quick and painless. Worked around my work schedule. Salesman had a great attitude and listened to all my questions and concerns. Even after purchase he still answers questions I have. Santa Fe Lexus has happy people that make it a happy place.

Read at DealerRater

Saved Vehicles

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact Us

575-489-2400

Call Now

6824 Cerrillos Rd • Santa Fe, NM 87507

Get Directions

Today's Hours:

Open Today! Sales: 9am-6pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7:30am-6pm

Lexus of Santa Fe 35.623, -106.02728.