Lease vs Buy

The Great Debate: Should You Lease or Buy Your Next Luxury Car in Richmond?

Car financing isn't easy--and unless you've got the cash on hand to pay for a brand-new or slightly-used Jaguar, you're likely looking into your options for an auto loan in Richmond or a lease on a brand-new Jaguar model in Hanover, Mechanicsville, Petersburg, or Charlottesville. And if you're unsure of the differences between leasing vs buying, or you don't know which of these two great options would be a better fit, read on here.

We've created a brief overview of buying a new luxury vehicle versus leasing one, to help you see the main similarities and differences between these two financing paths.

The Basics of Auto Loans vs Jaguar Leases

When you take out an auto loan, you're financing the entire cost of the vehicle--including fees, interest, etc. You also have a wider range of term options, with some lenders giving you up to seven years to pay off your loan. When you lease, however, you're essentially taking out a much smaller loan to pay only for the amount of value lost by the vehicle over the course of the lease term.

In example, if you lease a $50,000 car, estimated to lose $20,000 in value due to basic wear and tear, on a 36-month term, you'll pay the latter value over the next three years. However, you'll be able to drive a much more premium vehicle for less than half the cost. However, lease payments do not build equity like loan payments do, since you do not own the vehicle at the end of the lease term unless you choose to buy it out.


Why Should I Buy a Jaguar?

Buying a luxury car is a great option for drivers who are in it for the long haul; who get behind the wheel of a vehicle with the intention of keeping that car for eight, ten, or twelve years. Or, for drivers who are confident in their ability to maintain a high resale value for future trade-in opportunities. Here are the top three perks of buying:

  • Buy it. Own it. Keep it. Sell it. All of the decisions are 100% up to you
  • No mileage limits--drive as long and as far as you want
  • Build equity with every payment

Why Should I Lease a New Jaguar?

Leasing a new Jaguar model is the perfect solution for local drivers who aren't interested in committing to one vehicle for a length period of time. You enjoy all the benefits of driving a new luxury sports car, with none of the downsides of being shackled to a car for a decade. Here are the top three perks of leasing:

  • Get a brand-new model every few years, without the stress of needing to sell & buy over and over again
  • Enjoy all of Jaguar's modern features and iconic designs, for lower monthly payments than buying
  • Never get left behind on the latest technology, with a new Jaguar F-TYPE, XF, or XJL every few 24-26 months

Make an Inquiry

Contact

Brown's Jaguar

10505 Midlothian Pike
Directions Richmond, VA 23235

  • Sales: 855-596-3491
  • Service: 855-895-8773
  • Parts: 855-895-8773

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