Buying vs. Leasing
When you’re ready for a brand-new vehicle, you have two options. You can either buy or lease your new Jaguar from Jaguar Oklahoma City. If you’re not sure which option is best for your situation, consider several points before making a decision.
Reasons to Buy
Buying may be the right option for you if the following benefits appeal.
- Simple financing options – When you buy a vehicle, it’s usually a straightforward process to getting approved for a loan. You choose a loan with the rates and payments that suit your budget. You can often refinance in the future with a lower rate.
- Better selection of vehicles – Not all vehicles on a lot are available for leasing, but they are generally all available to buy. With more vehicles suited for buying, you have a better selection to ensure you get the model you want. Used or even certified pre-owned vehicles aren’t usually able to be leased.
- Lower Cost with Time – When you buy a vehicle, you end up with a lower total cost over time as long as you keep it for several years. This is even truer if you choose to keep it after the loan is paid off.
- Ownership – When you buy a vehicle, you are the owner. You have the right to modify it or add accessories, which you generally can’t do with a leased model.
- No restrictions on mileage – Leases often limit your mileage on the contract. You may have to pay extra if you go over the restricted mileage. With buying, you can drive as much as you want.
Reasons to Lease
Leasing is a common option for luxury brands, especially in larger cities. Here are a few reasons to consider leasing over buying.
- Lower monthly payments – You generally have lower monthly payments than if you were buying the same model outright because you are only paying for the time you have the vehicle. Down payments are also often lower for the same reason.
- Paid maintenance – Regular maintenance is often covered under a lease warranty, such as oil changes. Repairs are taken care of under warranty, which can save a lot of money.
- Ending the lease – Once your lease ends, you have several options, including buying the vehicle and returning it for a new model, which is ideal if you don’t like to keep a vehicle for too many years.
If you would like to know more about buying or leasing a Jaguar, stop by Jaguar Oklahoma City and talk to the team. Ask questions and check out the latest models for sale or lease. Get behind a new Jaguar today and drive it home.