Leasing and Buying Offer Different Advantages
Deciding whether to lease or buy a car is an interesting decision. The customer must understand the differences between each obligation. The better option depends on the needs of the person purchasing the vehicle.
Buying a car means paying for it in total or breaking the price down into monthly payments. An auto loan may be taken out to make regular installments towards the value of the automobile. Final payment will lead to ownership of the car.
A lease does not work towards ownership. Therefore, the person making the payments does not build equity in the automobile. However, monthly payments on a lease are generally lower than an auto loan because the driver is not financing the automobile’s value. They are able to return the car at the end of the lease and acquire a new one if so desired.
Come into our facility at Land Rover Wilmington, in Wilmington, DE, and speak with a professional and find out if a car loan or lease is the right decision for you.