Leasing vs. Financing: What’s the Difference?
Leasing vs. Financing: What’s the Difference?
Which is Right for You?
When you start your journey of seeking out your next Land Rover, one of the inevitable questions that your salesperson will ask you is whether you wish to lease or buy. Some drivers give a knee-jerk response, but not everyone realizes which method is actually best for their lifestyle and budget. Come with us as we explore the pros and cons of both aspects of ownership, and help you decide which one is right for you.
Buying a Land Rover
Buying a Land Rover is a great way to own a state of the art SUV that can conquer both paved and unpaved terrain. When you purchase a vehicle, you’ll either pay cash for the purchase price, or you’ll obtain an auto loan. One of the great aspects of purchasing a vehicle is that you can keep it for as long as you wish, and, once paid off, you’ll get to drive your vehicle without a monthly payment. Because the vehicle is yours to keep, you can drive it as many miles as you wish, and also customize it to your liking.
Though purchasing is fairly straightforward, some aspects of buying or financing a vehicle may not be best for everyone. A new vehicle can lose up to 60% of its value within the first five years of its life, meaning that if you’d like to trade your vehicle in after recently purchasing it, you might discover that it’s worth a lot less than what you paid for it.
If you’ve financed a vehicle and want to trade it in shortly after you’ve purchased it, you might find that you owe more than the vehicle is worth. This process is only temporary and generally only occurs shortly after you’ve purchased your vehicle.
Buying a vehicle is a great pathway to ownership, and offers incredible incentives. Explore our inventory and find your next Land Rover today!
Leasing a Land Rover
Leasing a Land Rover is a great way to drive the latest model Land Rovers at a lower monthly payment than if you were to finance. Because a lease involves monthly payments on a vehicle’s depreciation over a two or three year period, rather than its entire purchase price, lease payments are typically lower.
Another benefit of a lease is the assurance that you’ll virtually never have to worry about expensive repairs because your vehicle will likely be under its manufacturer’s warranty for the entirety of your lease.
Leasing, however, isn’t for everyone. Because a lease is based on a predetermined amount of depreciation, you have to keep the vehicle well-serviced and in like-new condition. Each lease agreement also comes with a mileage limit, and vehicle modifications are not allowed.
Leasing is a perfect way to drive the car of your dreams at an affordable monthly payment. Explore our inventory today and take advantage of brilliant lease specials!
Get Yours from Land Rover Tampa
Whether you wish to lease or purchase, we at Land Rover Tampa stand by you and make either method of ownership convenient and hassle free. Not only do we feature regular lease and finance specials that help you save money, but our finance department works directly with the Land Rover leasing company along with a network of financial allies so you never have to look high and low for competitive interest rates.
Make your way down to Land Rover Tampa and drive home in your new Land Rover today!
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