Buying Vs Leasing

When you buy the new or used car you pay for the entire cost of the vehicle. When you lease the new or used car, you pay for only a portion of the vehicle's cost, which is the part you use during the time you are driving it.

The decision to buy or lease your next vehicle is a common question. Hennessy Lexus Atlanta can help you make an informed decision using the information below. We hope you find it informative and useful. 



BUYING

OWNERSHIP

You own the vehicle and get to keep it as long as you want it. Of course, if you're financing it, you'll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don't, they have the right to repossess it.



UP-FRONT COSTS

They include the cash price or a down payment, taxes, registration, and other fees. The amount of the down payment is usually based on the lender's requirements and your credit score. You can also trade-in another vehicle and use any equity towards your down payment.


FUTURE VALUE

The vehicle will depreciate, but its cash value is yours to use as you like.  (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility)!



END OF TERM

At the end of your loan term, you have no further payments and you have built equity to help pay for your next vehicle. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.



LEASING

OWNERSHIP

You don't own the vehicle. You get to use it but must return it at the end of the lease unless you decide to buy it. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.


UP-FRONT COSTS

They can include the first month's payment, a refundable security deposit, an acquisition fee, a down payment, taxes, registration, and other fees. As with a purchase, if you want to lower your monthly payments you can always pay more upfront.


FUTURE VALUE

On the plus side, its future value doesn't affect you financially. On the negative side, you don't have any equity in the vehicle. You may also have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.


END OF TERM

At the end of the lease (usually two to three years), you can finance the purchase of the car, or lease or buy another. Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we'll make sure you have your lease set up the way you want it.


STILL NOT SURE WHAT THE BEST OPTION IS FOR YOU?

Take this short quiz to help you make the decision that best fits you.

SERVICE HOURS
Monday:9:00 am - 8:00 pm
Tuesday:9:00 am - 8:00 pm
Wednesday:9:00 am - 8:00 pm
Thursday:9:00 am - 8:00 pm
Friday:9:00 am - 8:00 pm
Saturday:9:00 am - 6:00 pm
Sunday:Closed

Contact

Hennessy Lexus Atlanta

5955 Peachtree Industrial Blvd.
Directions Atlanta, GA 30341

  • Sales: 770-457-6800
  • Parts: 678-542-1822

Make an Inquiry

; ; ;