Buying or Leasing: Which is Right for You? | Toronto, ON
Buying or Leasing: Which is Right for You? | Toronto, ON
When you purchase a new INFINITI vehicle from INFINITI Downtown in Toronto, you have two financing options to choose from. You can either buy your vehicle or lease it. If you’re having difficulty making this decision, then use this guide to help you better understand which will suit your finances best.
When you purchase a new INFINITI vehicle from INFINITI Downtown in Toronto, you have two financing options to choose from. You can either buy your vehicle or lease it. If you’re having difficulty making this decision, then use this guide to help you better understand which will suit your finances best.
Leasing
When you lease a vehicle, rather than paying for your vehicle’s current value, you instead pay for the difference between its current value and its value when your lease term is over. Because of this, you will likely have a lower monthly payment and deposit than you would if you purchased the vehicle outright. Leasing is a great way to get a luxury vehicle for a smaller investment.
Your lease term will typically stretch over two or three years, which means your vehicle will always be under warranty throughout your ownership. This helps reduce the cost of your vehicle’s maintenance and repairs. This short ownership length also means you will be able to get a brand-new vehicle every few years, giving you the most up-to-date technologies every time.
Buying
Purchasing a vehicle outright is a solid option if you eventually don’t want to worry about paying for your vehicle. This is because when you finish paying off your automotive loan, you will no longer have to make payments towards your vehicle beyond typical ownership costs like insurance, gas, and maintenance. With no monthly payments, you can eventually save hundreds of dollars a month that can go towards a different purchase. Also, a vehicle you have bought will also work as a trade-in vehicle, helping to give you a discount when you decide that you want a new ride.
Buying a vehicle will also allow you to customize it however you like, adding new wheels, modifying the body, or adding any accessories to it to help suit your lifestyle better.
Leasing
When you lease a vehicle, rather than paying for your vehicle’s current value, you instead pay for the difference between its current value and its value when your lease term is over. Because of this, you will likely have a lower monthly payment and deposit than you would if you purchased the vehicle outright. Leasing is a great way to get a luxury vehicle for a smaller investment.
Your lease term will typically stretch over two or three years, which means your vehicle will always be under warranty throughout your ownership. This helps reduce the cost of your vehicle’s maintenance and repairs. This short ownership length also means you will be able to get a brand-new vehicle every few years, giving you the most up-to-date technologies every time.
Buying
Purchasing a vehicle outright is a solid option if you eventually don’t want to worry about paying for your vehicle. This is because when you finish paying off your automotive loan, you will no longer have to make payments towards your vehicle beyond typical ownership costs like insurance, gas, and maintenance. With no monthly payments, you can eventually save hundreds of dollars a month that can go towards a different purchase. Also, a vehicle you have bought will also work as a trade-in vehicle, helping to give you a discount when you decide that you want a new ride.
Buying a vehicle will also allow you to customize it however you like, adding new wheels, modifying the body, or adding any accessories to it to help suit your lifestyle better.
