Looking to upgrade to a luxurious INFINITI model? Before you drive off the lot in your sweet new ride, you’ll have to decide whether buying or leasing is right for your budget. Each option comes with its own benefits and drawbacks, so here’s a guide to help you choose.
When you finance your new INFINITI, you’ll eventually own the vehicle outright. That means you’ll be free to modify it, sell it, trade it in, and drive it as much as you’d like. You won’t be locked into any kind of fixed ownership period, and you’ll likely pay lower insurance premiums. On the flip side, it costs more money upfront when you choose to finance. You’ll have higher monthly payments than if you’d leased the vehicle.
If you’d like to drive a luxury car for less, consider leasing. When you lease a vehicle, your payments only cover its depreciation — not the car’s whole cost. As a result, you’ll have lower monthly payments. On top of that, you won’t have to save up for a big down payment. Most lease deals ask for no money down or only a modest down payment. And since leases only last 36-48 months, you’ll frequently have the chance to upgrade to a newer model. If you’re leasing the vehicle for your business, you may also enjoy certain tax advantages. However, leasing comes with a few drawbacks. At the end of the lease term, you won’t own the vehicle. You’ll have to abide by the terms of the lease, too — that means you’ll need to have it serviced regularly and you’ll be beholden to set mileage limits.
Whether you need help deciding — or you’re looking to take the next step on your car-buying journey — contact our finance department to get started. At INFINITI of Syracuse, our helpful, friendly staff is here to take the hassle out of buying a new luxury car.