Is it Better to Buy or Lease an Acura?

While some drivers insist on the sense of ownership that comes from purchasing their car, others enjoy the cost savings and flexibility that comes with a lease: Just a monthly payment and a new car that they can switch for another new one at the end of the contract.

Our Hackensack area Acura dealer can help you with either option, but it’s important to know which one works better for you before you start the process. Here’s everything to consider when choosing whether to lease or buy an Acura.

Why Buy an Acura?

Once any financing is completely paid off, you’ll have complete ownership of your vehicle, title in hand. You have the freedom, at that point, to do whatever you want with it: repaint it, add a trailer hitch, replace the wheels, or customize it to your heart’s content. And you don’t have to worry about the mileage limitations that come with leases, so heavy drivers are free to pile up the miles.

When it’s time to replace that car, you’ll have the remaining value of your vehicle to start with, whether as a dealer trade-in or through a private sale. Depending on the car and condition, that could be a great head-start on your next new vehicle.

But depreciation can’t be ignored. The second you drive a car off the lot, it loses much of its original value: You will never get back what you already put in. And once its warranty expires, you’re going to be completely on the hook for all maintenance or service the car may need.

Why Lease?

When you lease, you’re only committed to that one car for the length of the lease, which is usually three or four years. The dealership will still technically own the car, and routine maintenance and service will often be covered.

Depreciation also factors into a lease…because that’s all you’ll really be paying for. Your monthly lease payment covers depreciation, taxes, and interest. Lease payments are typically lower than the monthly payment on new car purchase financing. When the lease is up, you can just start a new lease and be back in the newest Acura model with the latest technology and features.

But there are extra costs to consider. With mileage restrictions and charges for extra wear-and-tear, you may face charges when it’s turn-in time if you didn’t adhere to the lease’s limitations.

Great Acura Purchase and Lease Offers Near Hackensack

No matter what route you choose to take, Park Avenue Acure will gladly help you get into the right Acura at the right price. Hackensack area drivers should check our Acura specials page for the latest offers on new vehicles. And if you have any questions about any of the models or about the leasing or purchasing process, don’t hesitate to contact us online.