Leasing vs. Buying

Leasing a Jaguar

Leasing is becoming a more mainstream option as vehicle prices rise. Dealerships are seeing lease customers ranging from college grads to families looking to drive away in the perfect car. When you lease a vehicle you only finance the depreciation of the vehicle rather than the full cost, which typically translates into lower monthly payments. Benefits of leasing a vehicle include smaller down payment requirements and a more predictable total cost of ownership since the majority of required repairs will fall under warranty for the life of the lease. Leasing also allows you to acquire a new car every few years keeping you on top of the latest technology. Leasing does have some drawbacks, most notably a limit on miles and hefty fees if you exceed that limit. When you lease you are basically renting a vehicle so you don’t earn equity in the vehicle. Lessees are often limited by their credit as it is difficult to obtain a lease without good credit. It is important for lessees to read the fine print of a lease carefully to avoid any hidden fees.

Buying a Jaguar

Another option for Mason, OH drivers is buying a new Jaguar. Buying is a good option for drivers tend to keep their cars for a long time. At the end of the loan the buyer owns the car outright with no additional costs. There is also a lack of mileage restrictions for buyers. The downside of buying is some dealerships require sizeable down payments, as much as 10-20% down. This can also result in longer loan terms to help keep payments more affordable.