INFINITI Financing in Houston, Texas – Should You Lease or Buy?
Helpful tips for deciding to lease or buy an Infiniti in Houston, Texas.
Leasing a New Infiniti:
In most cases, people who lease an Infiniti are able to get more car for less money. While a car loan is based on the full price of a new car, a lease is based on a percentage of the car’s price. With a lease, you pay only the difference between the car’s price and what it’s expected to be worth at the end of the lease. Leases also require a smaller down payment and are sometimes offered with $0 money down. However, the lower the initial payment the higher the monthly car payment will be.A typical lease lasts about three years and is available to customers with good credit. Once a lease is up, you have the option to buy the car, lease another car or simply walk away. This makes leasing perfect for people who like to drive the newest models with the latest high-tech features.Bumper to bumper manufacturer warranties usually cover the first three years of a vehicle’s life which keeps auto service costs down. Although leased vehicles must be maintained per manufacturer recommendations for services such as oil changes, tune ups and tire rotations and no vehicle alterations beyond required maintenance can be made. So you won’t be able to tint your windows or add a new set of rims to your leased vehicle.Leasing is great for customers who don’t drive extensive distances. Lease contracts do have limits on the number of miles you can drive, usually between 9000 and 15,000 miles a year, with a per mile fee at the end of the lease, if the limit has been exceeded. However, for around town driving and occasional road trips these restrictions are usually not much of an issue.
Buying a New Infiniti:
If you have always wanted to own an Infiniti and plan on keeping it for as long as possible, buying is probably better for you. Although auto loan down payments are typically between 10 and 20% of the total vehicle price and monthly car payments are higher than those for a lease, once your vehicle is paid off, car payments stop and the vehicle is yours. Compared to continuous monthly lease payments and the knowledge that you will have a vehicle to either sell or trade in, buying a Infiniti can be cost effective in the long run.Another benefit of buying a car is that your credit does not need to be perfect. If you have money for a down payment, steady income and a decent credit score, you can qualify for most auto loans and as you pay off your loan your credit rating could improve.For those on a budget, most car loans have a bit more flexibility than auto leases and can be extended to five or six years to lower monthly payments. However, these extended loans allow more time for interest to add up so you could end up paying more for the vehicle than you would with a shorter loan term. One way keep monthly payments low and avoid extra interests cost is to pay your loan off early. The sooner the loan is paid in full the more money you can save.Of course, other benefits to car ownership is the lack of mileage restrictions and your ability to enhance your vehicle with any fancy aftermarket parts you like.If you would like to explore your options for buying or leasing an Infiniti in Houston, TX we invite you to talk with one of our auto financing experts. We are here to answer your questions and help you get behind the wheel of a new Infiniti.