Should I Buy or Lease?

young couple buying car at dealership

If it’s time to start looking for your next new or certified pre-owned vehicle, you may be debating whether to buy or lease an Acura vehicle. It all boils down to what works with your finances, so we’re here to help you learn more about whether leasing or buying is right for you. While there are many benefits to each, only one is right for you so be sure to think about what your needs are, what you can afford, and what you want. Let’s break it down for Detroit and Taylor customers.

Benefits of Buying

  • No Mileage Restrictions: If you do a lot of driving, you may want to consider buying. Without the mileage limits on a leased vehicle, you can drive as much as you want.
  • Total Ownership: Buying a vehicle means to own it completely and can modify, customize, or decorate it how you see fit whether it’s cosmetic and mechanical changes.
  • Ability to Sell: Without a lease agreement, you can sell your vehicle whenever you choose.
  • Financing Options: Financing a car is more straightforward than leasing, and is open to those without perfect, or great, credit scores. You can even refinance your loan to lower your interest rate and monthly payments.
  • 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.
2019 blue optima driving on highway

Benefits of Leasing

  • Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.
  • 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.
  • Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local Dearborn dealership, pay any remaining fees, and drive away in your next vehicle of choice.
  • 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.
  • Options: With leasing, you’ll have tons of new options and will be able to find the perfect model and features for you.
  • High Approval Rate: It’s much easier to get approved for a lease than a car loan, as those with poor or no credit can be approved.
2019 white sorento driving in snow

Explore Leasing and Financing Options at LaFontaine Kia

Ultimately the decision of whether to lease or finance is up to you and something you should feel confident and comfortable with. That’s why our finance department is always here to help you with the option that fits your budget. Feel free to check out our leasing and financing deals, and then head over to our dealership near Southfield. Feel free to contact us if you have any questions! You can even learn about how to trade-in a car or explore the best things to do in Dearborn, MI.

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