Should I Buy or Lease a Car?

If you’re shopping for a new Acura for your Ridgeland drives, you might wonder, “Should I buy or lease a car?” Fortunately, we at Acura of Jackson are here to help you decide between leasing vs. buying. Keep reading, and soon know the pros and cons of leasing vs. buying and if leasing an Acura is right for you. We’re here to help, so don’t hesitate to contact us with any questions!

Leasing vs. Buying: Long and Short-Term Costs

• Leasing typically means a lower monthly payment. You’ll also appreciate savings with a smaller down payment and no sales tax. Plus, when you opt for a new lease every few years, your monthly payments won’t go up much, and you’ll never have to worry about escalating repair costs in the service center because service is included when leasing an Acura.
• With financing, you can eliminate your monthly payment eventually. There’s no way around it.Purchasing a pre-owned or certified pre-owned Acura is cheaper in the long term than leasing a new Acura because once you pay off your vehicle, you no longer will have a monthly payment.

The Bottom Line: Most Madison drivers keep their vehicles for about three years and want the most recent technology for their commute. If that sounds like you, leasing vs. buying is likely a good choice. But, if you’re still wondering, “Should I buy or lease a car?” chat with our finance specialists to explore the details of leasing vs. buying.

Leasing vs. Buying: Mileage Restrictions

• Those Jackson drivers who choose to finance their new vehicle never have to worry about mileage restrictions.
• Those who decide on leasing vs. buying must be careful not to exceed the strict mileage limits stipulated in their lease agreement, or they must pay a hefty fee at the end of the lease.

The Bottom Line: If you commute only a short distance to Brandon, leasing vs. buying is probably a better plan, but if you go on long weekend road trips, you’re better off buying vs. leasing a car.

Leasing vs. Buying: Customization

• When you buy a vehicle, you can customize it with a fancy paint job and accessories or modifications. Still, check first that your customization won’t void your new Acura warranty.
• When you lease a car, you must keep it in (or close to) factory condition because the dealership officially owns it and will need to re-sell it at the end of your lease.

The Bottom Line: If you engage in racing, vehicle modification, or enjoy off-roading, we recommend buying, not leasing your next vehicle.

Leasing vs. Buying: Financial Freedom

• Leasing is more convenient. When leasing vs. buying, take good care of your vehicle, return it at the end of your lease, and drive home in a new car! You can always purchase the car later if you love it.
• Financing offers more flexibility and freedom. You can sell or trade in your vehicle at any time when financing it and refinance it if interest rates go down. Plus, you can keep your car for as long as you want to.

The Bottom Line: The convenience of leasing vs. buying significantly benefits many drivers. Still, if you don’t mind maintaining and reselling your vehicle by yourself, the money you get when you trade in your car can help offset the purchase of your next one.

Explore Your Leasing vs. Buying Options at Acura of Jackson

Now that you know the answer to the question, “Should I buy or lease a car?” If you’re ready to shop for your next car, we invite you to explore our leasing and financing specials! Then, please complete an online financing application and contact us for a test drive around Ridgeland. We want to see you in the new Acura of your dreams today!