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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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Josue Garcia was my service advisor. He told me exactly point by point what was going to happen today. Very knowledgeable and friendly. Oill change and 20K check up took only 1.5 hours. I would recommend this dealership to everyone!

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DealerRater Dec 28, 2022

Had a great experience! The salesman, Paul Banigo, was kind enough to pick me up at the airport (Hobby) and bring me to the dealership. I was in and out of there in about an hour ready for my drive back to Georgia. I had been watching prices for a Lexus Certified RC F for a while and their car was the lowest price in the country out of only 13 certified listings.

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DealerRater Dec 28, 2022

I was in the market for a car for around 6 months. After going to many many dealerships I found a used car I liked here. I went to see it at night just to make sure it was there and to see if I wanted to continue with the purchase. I dealt with Mo B. - he never pressured me, he never said anything that was made me question him or the dealership. He texted me once to see I was coming in on the day I said and thats all. He was a great salesman! He was also very ...

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Sterling McCall Lexus 29.669721, -95.546642.