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New Car Lease vs Buy | Sterling McCall Acura

New Car Lease vs Buy

Lease vs Buy

Why Should You Lease a New Car?

If you like to drive newer, safer, more reliable cars or trucks, but prefer not commit to a big down payment every 3-4 years, and also do not drive an exorbitant amount of miles every year, then a new car lease may be best for you. Leasing is intended for those who would prefer to avert the annoyance of selling and buying each time they want to drive a new car.

Why Buy a New Car?

On the other hand, if you prefer long term automotive relationships with a larger sense of commitment and ownership, then buying should be what’s right for you. Car-buying is typically best for consumers who won’t mind driving the same car for over five years or even until it is no longer suitable for the road.

Lease vs Buy: Which One Is Right for You?

Knowing the pros, cons, and overall benefits of buying vs leasing a car is imperative. Be sure to acknowledge factors such as potential savings, vehicle ownership, monthly payments, and repair costs when calculating the best new car, truck or SUV financing type for you.

Leasing vs Buying: Ownership

When weighing the value of vehicle financing, new car ownership absolutely comes along with many well-known advantages, most associated with absolute ownership of the car. You may not realize, but, there are also a few nice advantages to leasing, as well. It’s imperative to consider all financial aspects including interest rate, down payment, monthly payments, term length, buyout payments, depreciation, and maintenance & repair costs, before making a decision. A precise inspection of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car.

leasing vs buying a new car benefits

Monthly Payments

Car, truck, or SUV lease payments are often less expensive than auto loan and car financing payments as the standard lease format is pretty much renting with the option to buy out near the final payment of your lease term. Remember when leasing that you will need a higher credit score, and will be required to carry collision and comprehensive insurance, though the same can be said for the better rate auto loans. Though it can add to monthly payments, it is also wise to get a model with the features you want or need, as personal satisfaction is often priceless.

is it better to lease or finance a car

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It is important to remember this when calculating monthly costs of ownership vs leasing. Regardless of what make and model you buy, mechanic bills are an unpredictable cost that can quickly add up. And for those who are not certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.

is leasing better than buying

Savings vs Investment

In general, a new vehicle lease saves money in the short term with lower monthly payments, while buying gets you a long term investment, meaning outright ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For your best investment on a financed/purchased vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.


Lease Buy
New Vehicles Available Available
Pre-Owned Vehicles Not Available Available
Vehicle Customization Not Available Available
Poor Credit Financing Not Available Available
APR % Credit-Based Credit-Based
Ownership No Ownership Pride of Ownership
Down Payment Smaller Down Payment Larger Down Payment
Monthly Payment Smaller Monthly Payments Larger Monthly Payments
Savings/Investment Short Term Savings Long Term Investment
Finance Term Approx. 2-4 Years Approx. 3-6 Years
Maintenance & Repair Costs Typically Included Not Included


Acura Lease and Finance Offers In Houston TX

Sterling McCall Acura knows that choosing the right Acura car and financing option is never easy. Our team of experienced Acura lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Houston, TX. We look forward to serving you.


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