Leasing vs. Buying a Car

For those who haven’t bought a car around Lake Elsinore and Fallbrook, it might seem a little daunting. Lease vs. finance? What’s the difference between lease and finance? Is it better to lease or buy a car? These are some of the questions we have received at our Temecula dealership over the years. 

When trying to determine whether leasing vs. buying a car is the right choice, Temecula Valley Lexus has been answering these questions for a long time. We’ve decided to put together a guide showcasing these two options and their pros and cons. Then explore our new vehicle inventory and contact us for a test drive soon!

The Benefits of Leasing 

The first thing to comment on when discussing lease vs. finance is the difference between lease and finance. When Vista drives select leasing, it means you’ll be renting your car for several years.

You won’t be able to build equity or sell the vehicle you select. At the same time, you only will be paying for the depreciation that occurs over the duration of the vehicle’s lease term. This means you’ll have lower monthly payments and a much smaller down payment. You won’t have to pay as much in sales tax either. 

There’s also the element of flexibility when it comes to leasing vs. buying a car. When you lease a vehicle, once it’s up, you’ll be able swap it out, end the existing lease, or finance the remaining value of your vehicle.

The Benefits of Financing 

Is it better to lease or buy a car? Let’s move into the question of financing. When you decide to pursue this option, you’ll be able to take a loan on the full value of your vehicle, with the final goal being to own it. As a result, the full value of a vehicle will be far more than the depreciation of a temperate lease period. 

You will have to pay more in sales tax and make bigger monthly payments. Yet in contrast, you can sell your vehicle at any time, recouping the thousands you originally invested in your loan. Financing can be the more cost-effective strategy, yet it requires bigger upfront costs and a stronger commitment on a month-by-month basis.

Explore Leasing vs. Buying With the Temecula Valley Lexus Financiers

Now that we’ve answered the questions regarding leasing vs. buying a car, why not find one at Temecula Valley Lexus? If you have more questions about these two choices, call us at 951-297-3896 or online to speak to our finance center. You can also explore our new vehicle specials and see if you might save more money on your purchase. If you want to customize your Lexus, you also have the option to “Build Your Lexus.” Lease or finance in Temecula with Temecula Valley Lexus. See you shortly!