Should I Buy or Lease?

Woman reading a car purchase contract in car dealership

If you’re considering a new Jaguar, then you need to understand the ins and outs of all your options. For many Jersey City-area drivers, that process starts with one deceptively simple question: Should I buy or lease? Although the differences may appear straightforward, any driver who compares their lease vs. buying options in depth is going to have their work cut out for them. That’s where we come in.

When is Buying the Right Move?

Unless you expect to pay cash for your new or pre-owned Jaguar, buying is essentially synonymous with financing. So, when is it a good idea to take out a loan and invest in a car or SUV? Financing is the right move if:

  • You want to drive without restrictions. Since leasing contracts require you to remain within mileage limits and avoid excess wear and tear, especially adventurous drivers will want to pursue financing.
  • You want to modify or customize your vehicle. If you have your eye on a few Jaguar accessories or performance modifications for your Fort Lee drives, buying is the only way to go.
  • You want to be able to sell the vehicle later on. When you finance, paying off your loan allows you to build equity down the line. When you lease, you’re essentially renting.
  • You want to pay lower total costs over time. Unless you buy used, financing means higher costs upfront. However, you’ll enjoy much lower costs once you’ve paid off your loan. (Worried about escalating service costs? Car repair financing can help you stay on the road.)
  • You’re not set on driving a new vehicle. Most leasing options are only available with new or like-new vehicles. Choosing to buy gives you a much wider range of cars and SUVs to choose from.

If you’ve asked yourself, “Should I buy or lease,” and you’ve settled firmly on financing, submit your application today.

When Is It a Good Idea to Lease?

If owning your own vehicle is not one of your long-term goals, leasing allows you to enjoy more features for a lower monthly payment. It’s the right decision if:

  • You want to drive new, but don’t want to pay more than you have to. When you lease, you’re just paying off the depreciation on the vehicle you drive. That means you’ll have a lower monthly payment.
  • You want to lower your sales tax and repair costs. Since you won’t be paying the full value of your vehicle, you’ll also save on sales tax. Since you’ll likely be under warranty for the entire time you’re behind the wheel, you’ll also save on maintenance.
  • You want a simple and convenient trade-in process. When your leasing contract expires, simply bring the vehicle into Jaguar Englewood and get set up in a new model. Or, sit down with our financing team to purchase the vehicle outright! Find out what to expect by checking in with our Jaguar lease return center.
  • You want to try out several vehicles before you commit. If you’re not entirely sure which model is best for your needs, leasing lets you try out a few different cars and SUVs before you commit.
  • You want better chances of getting approved. Financing is a bigger risk for New York City-area lenders, so in general, it’s easier to get approved for a lease.

Explore Leasing and Financing Options at Jaguar Englewood

Don’t wait for the right option to fall into your lap. Visit Jaguar Englewood, sit down with a financing expert, and let us work out all the details of your ideal plan. Want to be better prepared for your visit? Start by valuing your trade-in, calculating your potential monthly payments, and exploring our current lease and finance offers online!

Jaguar Englewood 40.8806336, -73.9825438.