Should I Buy or Lease?

luxury car salesman giving new car key

If you are shopping for a new vehicle for your Scarsdale commutes, you might be wondering about the benefits of a lease vs. buying a vehicle, and what the best financial path is. Compare some of the benefits of leasing vs. buying at Ray Catena Lexus of White Plains to see which approach appeals to your needs and budget. Rely on your local authorized Lexus retailer for competitive Lexus finance rates and Lexus lease deals in NJ, and get even more car buying tips today!

Benefits of Buying a Car

  • Financing Options: While leasing isn’t a massive headache, the car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
  • Total Ownership: Buying a vehicle means it’s yours completely. This means you are free to do with the vehicle what you please. There are no restrictions on how it’s modified, decorated, etc.
  • Customization: Want to make your new vehicle stand out among the crowd? Buying rather than leasing allows you to make cosmetic and mechanical changes as you see fit. Create the car of your dreams without restriction.
  • Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
  • No Mileage Restrictions: If you’re driving your vehicle inside and outside of the Bronx area, you may want to consider buying. Without the mileage limits you get on a leased vehicle, you’re free to drive as much as you want.
  • Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.

Benefits of Leasing a Car

  • Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
  • High Approval Rate: While you may be denied for a car loan, it is much easier to get approved for a lease, as even those with poor or no credit can be approved.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as any issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.
  • Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local White Plains dealership, pay any remaining fees, and drive away in your next vehicle of choice.
  • Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle. You’ll have tons of options and will be able to find the perfect model and features for you.

Lease or Finance With Ray Catena Lexus of White Plains

If you’ve determined the answer to the question “should I buy or lease,” take the next step at Ray Catena Lexus of White Plains. Explore all of our Lexus lease offers in White Plains to find that Lexus ES 350 lease, RX 350 lease, or ask us about current Lexus RX finance offers if you prefer this popular SUV in Bronx. When you are ready to schedule a test drive, learn about how to get a lower interest rate, find out how to trade in a car, and take your lease or purchase home, contact Ray Catena Lexus of White Plains today! You can also get the process started by applying for financing online to see if you prequalify for credit!

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