Should I Buy or Lease?

car finance paperwork with key fob and pen

Are you in the market for a new vehicle around the Dalton, GA area? You may have been wondering whether it’s best to buy or lease your next vehicle. However, the option you choose will be based on your current financial situation and what you’re looking for in your next vehicle. Learn more about the differences between leasing vs. buying with the experts at INFINITI of Chattanooga in Chattanooga! If you have any questions, feel free to contact us anytime!

The Advantages of Leasing a Car

So, should I buy or lease? Leasing a car often provides you with lower monthly payments, as they are determined by the vehicle’s value at the end of the lease. On average, most lease agreements are around two years, and at the end of the lease, you can choose to either return the vehicle or purchase it outright. Let’s take a look at some of the advantages of leasing a car:

  • Lower Monthly Payments: Both your down payment and monthly payments will likely be lower when leasing a car. However, this can depend on the exact terms of your lease.
  • Reduced Sales Tax: By leasing a vehicle, you don’t have to pay as much in sales tax. The only tax you would need to pay is the tax on the down payment and monthly payment.
  • Trade-Ins: Trading in your vehicle is simple with a lease. You would just return the vehicle, pay any remaining fees, and choose your next vehicle.
  • Warranty Coverage: Most leased vehicles offer extensive warranty coverage covering minor repairs and nearly any other maintenance the vehicle could need. You just have to stay within the limits of your lease.
  • Latest Features: By leasing a vehicle, you can get the newest model every few years, allowing you to keep up to date on all the latest vehicle features. If you want to have the latest technology in your vehicle, leasing is the best option.

The Advantages of Buying a Car

If you’re looking for your next vehicle around Dunlap, when buying a car, you make payments on the loan until the vehicle is paid off. Buying a vehicle is a great way to enjoy it without the limitations of a lease. So, what are the advantages of buying a car in our leasing vs. buying comparison:

  • No restrictions on mileage: Unlike leasing a vehicle, there are no mileage restrictions when buying a car. This may be a good option if you drive outside of Chattanooga often.
  • Ownership: When buying a vehicle, it’s yours after paying off the loans. Therefore, you can customize the vehicle as much as you want!
  • Customization: Because the vehicle is yours, you can modify it in any way you’d like. So, if you don’t like to keep your vehicles stock, then buying is the way to go.
  • You Can Sell: When buying a vehicle, you can sell it to whomever you want, whether that be a friend or family member. Someone else could easily take over the loan.
  • Financing: Financing a vehicle is easier than leasing, and allows Chattanooga drivers without a good credit score receive financing. Furthermore, you could also refinance your loan when your credit score increases to receive a lower interest rate.
  • Less Expensive: Although the initial cost of financing is more expensive at first, you will save money in the long run. After the loan is paid, the cost of ownership decreases, saving you thousands of dollars.

Come Check Out Car Leasing and Financing Options at INFINITI of Chattanooga!

Now that you know the difference between leasing vs. financing, come stop by INFINITI of Chattanooga in Chattanooga to find your next vehicle. You can check out our new vehicle inventory, and meet with our finance department to start the buying process. If you’re looking for an INFINITI lease near me, look no further than INFINITI of Chattanooga!

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7646 Lee Highway • Chattanooga, TN 37421

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INFINITI of Chattanooga 35.0594042, -85.135145.