Should I Buy or Lease a Luxury Car?

Once you decide it’s time to replace your old vehicle, while you could certainly buy another one, you may also want to think about leasing. If you’re not sure if you should buy or lease a luxury car, this guide will help you decide.

Why Buy a Luxury Car?

If you want to own your car, clearly buying is the best decision. This enables you to add customizations and drive unlimited miles. Ownership also gives you something of value, which allows you to build equity. And, when a car is yours, you can sell it or trade it at any time. The only downside of buying is that it can be pricey.

Why Lease a Luxury Car?

If you just can’t make up your mind about which vehicle to get, leasing is probably your best choice. You can try out one car for a while, turn it in, and try out something else. Many people decide to lease because it’s a cost-effective way to have a car. In addition to being less expensive than buying, you aren’t financially tied to a car for very long.

Another positive aspect of leasing is that if at some point you decide that you want to own the vehicle, you will be able to start the financing process. The only negative with leasing is that you can’t add any customizations, and there will be a yearly mileage restriction.

Make the Right Choice at Lyon-Waugh Auto Group

If you’re not sure which option is right for you, Lyon-Waugh Auto Group can help you decide. Visit one of our dealerships located in Greater Boston or New Hampshire to learn more about buying or leasing. We’re here to help!

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