Should I Buy or Lease a Land Rover?
The leasing vs. buying dilemma is one faced by new vehicle shoppers around Austin each year, and there’s no one right option to suit them all. However, this is probably an option that best suits your needs, so compare the pros and cons of buying a Land Rover vs. leasing a Land Rover to help understand which path is right for you.
What Are the Benefits of Buying a Land Rover?
- No Mileage Restrictions: Let’s say you frequently drive to Laredo and beyond. Buying a vehicle means facing no monthly mileage restrictions, which might be better for those who commute every day.
- Total Ownership: Leasing a vehicle basically means you’re renting it. That works well for some people, but many prefer actually owning their vehicle.
- Customization: Buying new means the opportunity to build your Land Rover from the ground up, and you’ll be able to keep customizing with Land Rover parts over the life of the vehicle. When you lease, you won’t be able to make any major changes, and that can be an issue with off-road vehicles like the Land Rover that people often like to customize.
- Ability to Sell: Lease agreements can sometimes be broken, but that usually incurs a fee. When you buy outright, you can sell whenever you like.
- Financing Options: The financing process is usually a little more straightforward than the leasing process, and you can always refinance your loan to lower your interest rate and monthly payments.
- Less Cost Over Time: Buying a new car is initially more expensive, but you’ll eventually have no monthly payments once the loan is paid off, plus all the equity left in the vehicle.
- Off-Road Freedom: Driving a leased vehicle off-road can be a gamble since any wear and tear may result in additional charges at the end of the term. That’s not an issue when you buy.
What Are the Benefits of Leasing a Land Rover?
- Lower Payments: Monthly lease payments are lower than the financing repayments, and you won’t be expected to put down such a large down payment.
- Less Sales Tax: In most states, you’ll pay significantly less sales tax when you lease instead of buying outright.
- Easy Trade-Ins: When your lease agreement ends, you can simply visit your local dealer and upgrade to the latest model, meaning you’re never without the latest tech like Land Rover InControl®.
- Great Coverage: Your bumper-to-bumper warranty should cover your lease term, so you won’t need to worry about the headaches and costs of excess wear.
- High Approval Rate: If you’ve been denied an auto loan thanks to a poor or non-existent credit history, you might find yourself approved for a lease.
Let the Team at Our Showroom Help You Decide Between Leasing and Buying
If you’re still not sure which option is right for you, why not speak with our finance team or explore our new vehicle specials? For any further advice or assistance, don’t hesitate to contact your local authorized Land Rover retailer near Corpus Christi. You can also learn more about Land Rover history, and about what our models have to offer by comparing competitors like the Land Rover Discovery vs. BMW X5!