When you’re looking for a quality vehicle, one of the biggest decisions you need to make is whether you should finance or lease the vehicle. The fact is, there are major benefits to both, it more has to do with your needs. Amaral Auto Sales has an expert finance team that will give you free advice and help you make the decision that’s right for you. Contact our finance team today with any questions you may have, they’re known throughout New Jersey for their finance and leasing expertise.
If you consistently drive a lot, purchasing a vehicle may be the best way to go.
Generally, if you lease a vehicle you have a maximum amount of miles you’re capped at each year for the duration of your lease. If you lease a vehicle, then find yourself going over the mileage limit, you’re going to have to pay for that extra mileage at the end of the lease. On the flip side, if you buy or finance a vehicle, it’s yours and there are no limitations on how far you can drive.
Do you like being different? When you buy a vehicle, you can accessorize and customize your vehicle however you like. You can completely customize your vehicle to the way you like it, but, if you lease, you’re limited. At the end of the lease, you have to bring the vehicle back at the end of the lease, so you’re limited in what (if any) modifications you can make to the vehicle. Generally speaking, if you’re looking to customize your vehicle at all, buying or financing is the way to go.
The accomplishment of paying off a vehicle is a big deal for many people. Once you make that final payment, the vehicle is yours for as long as you want to drive it. If you want to avoid monthly payments in the long run, buying a vehicle may be the right decision for you.
Contact our finance team for more info.
How much do you drive? If you aren’t looking to drive daily or long distances, leasing a vehicle could be the right option for you.
Most leases limit the amount of miles you can put on the vehicle each year, so if you’re not driving long distances, or only driving a few days a week, leasing a vehicle is a good thing to consider.
Are you the type of person who wants to be in a newer, capable vehicle every couple of years? If that describes you, leasing is an option for your to explore. With a lease, you make monthly payments for a set period of time, and at the end of the term, you simply bring the vehicle back. After that, you’re free to lease a newer, more capable vehicle. You’ll always have the newest tech and safety features. If you buy a vehicle, you’ll have to pay for any upgrades.
When you lease a vehicle, you will normally have lower payments in comparison to financing a vehicle. It’s a shorter period of time and you’re bringing the vehicle back at the end of the lease, so if low monthly payments are top priority for you, leasing is an option you need to consider.
Do you own a company? If you do and use your car for business, check with your tax advisor - you may be able to deduct your auto expenses, including your monthly lease payment. And if the company you work for gives you a monthly car allowance, you may want to lease since you'll be able to drive a more capable vehicle for a lower monthly payment.
Find out if leasing makes sense for you, contact our finance team.