Are you looking to buy a new car near Montreal and Laval, but can’t decide if you should buy or lease? Here are the advantages -and less practical considerations - to both leasing and buying a car. Find out which is best for you!
The undeniable advantage of leasing a vehicle is never having to worry about depreciation since you give back your car at the end of the long term lease, or you buy it outright. In both cases, the depreciation was determined when you signed the original contract, so there’s no surprise...at least not much, for if the car is not in great condition, there may be additional fees.
If you are the kind of person who wants a change of vehicle every two or three years, leasing might be the better option. This means you won’t be losing hundreds, or even thousands, of dollars when you want to sell. It also means you won’t always be carrying a balance that will keep adding to your car loan.
On the other hand, you have your hands tied in many ways when you decide to lease a new car. There is a limit to your authorized annual mileage and additional fees if you go over. You won’t be able to modify the vehicle in any way, and your insurance might cost more since you will need to opt for complete refurbishing. There might also be higher interest rates and administrative costs.
There are many advantages to buying a car. The main one being that you own the car. You can do what you want with it, whether that means driving it as far as you want and modifying it in any way you see fit...within legal limits, of course. Of course a new car loses a large percentage of its value as soon as you drive it off the lot, but if you are the type to keep your car for many years, this isn’t much of an issue.
And don’t forget, when you choose a 2016-2017 Lexus, you’ll become the owner of a vehicle whose depreciation is significantly lower than seen with many of its competitors. Anyway you look at it, given the excellent manufacturing quality of Lexus vehicles and their many high-end features, you won’t be thinking of getting rid of it any time soon!
Come in to see us today at Spinelli Lexus Lachine near Laval and Montreal and see why buying a Lexus vehicle isn’t just any old purchase, it’s a real investment!