Lease vs Buy

New Car Leasing vs Buying

Why Should You Lease a New Car?

If you like to drive newer, safer, more reliable cars, but not commit to a large down payment every 3-4 years, and also don’t travel an enormous amount of miles every year, then a new car lease should be right for you. Leasing is best for those who would prefer to bypass the hassle of buying and selling each time they want to upgrade to a new vehicle.

Why Buy a New Car?

Conversely, if you like long term relationships with a greater sense of commitment and ownership, then buying may be what’s best for you. Car-buying is typically best for consumers who will not mind driving the same vehicle for over five years or even until the vehicle is no longer suitable for the road.

Buying vs Leasing: Which Is Right for You?

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

Leasing vs Buying: Ownership

When considering vehicle financing, new vehicle ownership surely comes along with many advantages, most associated with outright ownership of the car, truck or SUV. You may not realize, however, there are also a few great advantages to leasing, as well. It’s essential to consider all financial aspects including down payment, monthly payments, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A meticulous observation 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, truck, or SUV.

pros and cons of leasing vs financing a new car

Monthly Payments

Vehicle lease payments are often less expensive than car financing and loan payments as the standard lease deal is more-or-less renting with the option to buy out near the final payment of your lease term. Keep in mind when leasing that you’re going to need a healthy credit score, and will be asked to carry collision and comprehensive insurance, though the same can be said for the better rate auto loans. Although it can likely increase monthly payments, it’s also better to choose a model with the features you want or need, as personal satisfaction is often priceless.

is it better to lease or finance a car

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It’s important to remember this when calculating monthly costs of leasing vs ownership. Regardless of what make and model you select, mechanic bills are an unpredictable cost that can quickly add up. And for those of us who are not certified auto mechanics with a full toolset and hydraulic jack in the garage, leasing may be the best option for peace of mind.

lease vs buy car analysis

Investment vs Savings

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


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


Lexus Lease and Finance Offers In Houston TX

Sterling McCall Lexus 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 Houston, TX. We look forward to serving you.


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Cars Nov 25, 2020

Jairo Perez provided great customer service . Thank you for the help. He was very knowledgeable. Ran out of words to talk about. Thank you for much.

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Google Nov 25, 2020
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Cars Nov 24, 2020

Stephen was great to work with, and made the overall process as enjoyable as possible. So much so, that I came back a few months later to purchase another car from him.

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Google Nov 24, 2020

Got a BADASS deal on an es350. Very easy and honest experience! I might not buy a car from any other dealership for the rest of my life.

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