Financing vs Leasing

Choosing Between Financing and Leasing

Leasing and financing are the two options to get you behind the wheel of one of our new Acura models, but which one of those options will be right for your life? Our team will work with you to help you get a better idea of the intricacies of these options so that you can decide which will be the one that gives you the right payment options. We will help tailor the plan to your lifestyle so that you can get the most enjoyment out of your vehicle.

What to Know About Financing

Financing is getting a loan from our dealership so that you can drive off the lot knowing you have bought this vehicle. Buying a vehicle through financing offers a lot of advantages, including:

  • A Sense of Pride from Ownership: After you have paid off the financing, the vehicle is officially yours. You can keep the vehicle for as long as you want or can pass it down to a family member, helping increase its long-term value during your time of ownership.
  • No Limits on Mileage: Financing doesn't have the same limitations that leasing does, for example, you don't have to worry about how far you drive. Leasing usually limits you to around 12,000 or 15,000 miles, but financing will allow you to drive wherever you will want, no matter how far you go.
  • Change Whatever You Want: Financing gives you the freedom to change the vehicle however you want. You can equip accessories, change the color, or swap out anything that you will want, something that you can't do if you were to lease.

The drawback of financing is that it tends to have higher monthly payments than leasing does. This higher price is because you are paying for the full value of the vehicle, but the higher price is worth it to many drivers because they will own the vehicle after paying it off.

Details of Leasing

Not many drivers know the details that come with leasing, but we are here to clarify a lot so that you can see if this is the option that is right for your life. The advantages of leasing include:

  • More Competitive Monthly Payments: The lower price of leasing comes from the estimated depreciation for the years that you will have the vehicle. Many drivers appreciate having a lower monthly payment, making a lease the right choice.
  • Replace Your Vehicle More Often : Leasing is usually for about three years, after which you can replace your vehicle. You can choose to upgrade to another vehicle or replace your current one, making sure you will have the newest technology that comes onto the market.
  • Future Value is Guaranteed: Leasing means you don't need to worry about depreciation because you will return the vehicle to us after you are done with it. This is when you will decide what you should be doing with the vehicle that you have been leasing.

While all this sounds good, there are also disadvantages to leasing. One of the major disadvantages is that leasing comes with a contract that you need to follow, which includes distance limits, maintaining the vehicle, and to not make any changes to the vehicle while you are driving it. Failure to follow these guidelines will result in fees being added.

Learn More About these Options by Visiting Our Dealership

We want you to enjoy every minute that you are driving, and your payment options are a part of that. Our financing experts have helped many drivers and we are sure that we can help you too, giving you all the information that you will need for deciding between leasing and financing. Working with many lenders, we are confident that we can help you find a plan that suits the needs of your life.

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