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Should I Buy or Lease?

When you’re searching for a new vehicle to upgrade your Los Alamos commutes, you’re probably weighing the pros and cons of leasing vs. buying. The answer to determining which option is best for you, is entirely depending on what fits your financial situation best. There are several benefits of leasing and buying, but you’ll want to consider which option allows you to afford your next car comfortably. Allow Lexus of Santa Fe to teach you all about leasing vs. buying to figure out which one works best for you then come visit us at Lexus of Santa Fe!

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Benefits of Buying

  • No Mileage Restrictions: If you find yourself traveling throughout and outside the Espanola area, you might want to consider purchasing your vehicle. Since you won’t have mileage limits, unlike leased cars, you’re free to drive wherever and for however long.
  • Total Ownership: You have complete ownership of your vehicle when you buy it. Which means you’re free to do whatever you’d like with your new car. There are zero restrictions on how you personalize or accessorize your vehicle.
  • Customization: Want to turn heads on those Taos streets? When you buy a car, you’re able to make mechanical and cosmetic changes. Buying rather than leasing allows you to create your dream car without any restrictions.
  • Ability to Sell: You have the ability to sell your vehicle whenever you’d like since you’re not committed to a lease agreement.
  • Financing Options: Even though leasing isn’t a huge headache, the process of financing a car is more straightforward. In general, the finance process is accepting of those who do not have perfect or great credit scores. When you buy a car, you can refinance your auto loan to lower your monthly payments and interest rate.
  • Less Cost Over Time: Even though buying a car is immediately more expensive, the cost you pay over time towards your loan is less troublesome. Your vehicle will be less expensive to own if you have total ownership of it, especially if you choose a Lexus Extended Warranty.
Lexus RC rear

Benefits of Leasing

  • Lower Payments: When you lease a vehicle, your down payment or monthly payments will be significantly lower than buying.
  • Less Sales Tax: Leasing a vehicle in most states extremely lowers sales tax. In some places, you only have to pay tax on the amount for the down payment and monthly payments.
  • Trade-Ins: The process of getting a new lease agreement is very simple once your previous agreement is over. When you visit Lexus of Santa Fe or any dealerships in Santa Fe, you’ll pay any remaining fees then drive away with your new vehicle of choice.
  • Great Coverage: Maintenance and warranty coverage is easy when you lease a car. If any issues arise that are covered under your warranty, it is covered as long as you’re not over the mileage limit.
  • Options: Leasing allows you the opportunity to experience the latest technology every time you choose a new vehicle. There are a wide array of options to choose from with innovative features and high-tech safety technology.
  • High Approval Rate: It can be easier to be approved for a lease rather than being approved for a car loan.
Lexus LFA side by side

Explore Leasing and Financing Options at Lexus of Santa Fe

If you’re still asking yourself, “Should I buy or lease?” the answer is based upon your financial situation and needs. One of the options might work better for you than the other. If you’re still not sure about the differences between buying vs. leasing, visit our finance department at Lexus of Santa Fe for more information. In the meantime, find out how to buy a new car the right way, or contact us with any questions about warranty coverage during leasing, insurance coverage, and more!

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