Buying vs Leasing


Auto Financing In New Jersey

When it comes to buying or leasing a car the options can be confusing. To help you make an informed decision we have provided the information below. We hope you find it informative and useful.

When you buy the new or used car you pay for the entire cost of the vehicle. When you lease the new or used car, you pay for only a portion of the vehicle’s cost, which is the part you use during the time you are driving it.

BUYING

Who Owns It

Whether you pay for the car with cash, or finance it and make monthly payments, either way it’s yours. Of course, if you’re financing it, you’ll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don’t, they have the right to repossess it.

Up-front Costs

If you’re financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender’s requirements and your credit score.

Future Value

Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)

End of Payments

Once you’ve paid off what you owe on your contract, that’s it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.

LEASING

Who Owns It

You do not own the car when you lease. You’re paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.

Up-front Costs

Leases often require a down payment + the first month’s payment + possibly a security deposit + a bank fee and/or document fee in addition to normal tax, title & registration costs. A Sign & Drive promotion for a lease offer means that only the tax, title & registration costs are due at signing. All other costs have been absorbed into the monthly payment. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.

Future Value

In most leases you don’t end up owning it so you don’t end up selling it. That’s the financial institution’s job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.

End of Payments

Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we’ll make sure you have your lease set up the way you want it.

Best Cars to Lease

The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value.

Get Directions

Salerno Duane INFINITI of Denville is located at: 3103 Route 10 • Denville, NJ 07834

Prices include all costs to be paid by a consumer except for licensing costs, registration fees and taxes. To well qualified buyers, primary lender approval may be required. See dealer for details. Not responsible for typos. Pricing may be subject to change by the manufacturer. Actual vehicle may not be shown. For used vehicle listings: Vehicle may be subj. to a safety recall: go to www.safercar.gov.

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(973) 361-6700

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3103 Route 10 • Denville, NJ 07834

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Today's Hours:

Open Today! Sales: 9am-8pm

Open Today! Service: 7am-7pm

Open Today! Parts: 7am-5pm

Salerno Duane INFINITI of Denville

3103 Route 10 Denville, NJ

Phone: (973) 361-6700

http://maps.google.com/?q=3103%20NJ-10%2C%20Denville%2C%20NJ%2007834

Parts

Phone: (973) 361-7483

3103 Route 10 Denville, NJ

Sales

Phone: (973) 361-6700

3103 Route 10 Denville, NJ

Service

Phone: (973) 361-7400

3103 Route 10 Denville, NJ
40.8679054 -74.5132779
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Salerno Duane INFINITI of Denville
Salerno Duane INFINITI of Denville
3103 Route 10
Denville, NJ, 07834 US
(973) 361-6700
https://di-uploads-development.dealerinspire.com/salernoduaneinfiniti/uploads/2018/09/thumbnail.png
Salerno Duane INFINITI of Denville 40.8679054, -74.5132779.