Buying vs Leasing in Boise, ID
When it comes to taking home one of our latest Lexus models, like the Lexus RX or Lexus IS, Peterson Lexus makes choosing between buying and leasing a seamless experience in Boise, Idaho. As a new car owner, you may be curious to know which financing option is a better fit for your lifestyle and needs. Ownership of a new vehicle sounds tempting, yet so does having the flexibility to upgrade to newer Lexus models every few years. And when it comes to costs and savings, buying and leasing both have their ups and downs. Ultimately, the decision comes down to what your needs, budget, and preferences are. Below, we discuss the benefits and disadvantages of buying and leasing, so you can find a car payment plan that works for you.
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Benefits of Leasing vs Buying a Lexus from our Boise, ID Lexus Dealership
| Benefits | Leasing | Buying |
| Ownership | x | |
| Lower Down Payment | x | |
| Lower Monthly Payment | x | |
| No Mileage Limit | x | |
| Vehicle Customization | x | |
| Easier Trade In | x |
Buying vs Leasing
Boise, ID | Meridian, ID | Nampa, ID
Buying
Buying a new Lexus car at Peterson Lexus means having complete ownership of your vehicle. You may keep it for as long as you want, granted you are steady in your loan payments, sell or trade it at any time, drive an unlimited amount of miles, and you can accessorize and customize your vehicle to your heart’s desire. Ownership of your vehicle gives you more control and freedom in how you use it, but it does come at a cost. In comparison to leasing, buying a vehicle oftentimes results in higher loan payments as you are paying off the full purchase price and other applicable fees, taxes, and interest. As for wear and tear, you are completely responsible for any routine service and maintenance costs that are otherwise covered by lease agreements. And if you ever wish to sell or trade your vehicle for another, you will have to see the process through from start to finish, unlike simply returning a leased vehicle and walking away to start anew. So, still considering buying a new Lexus vehicle in Boise, ID? Read about leasing next!
Leasing
While leasing forgoes any commitment to ownership, it does provide plenty of attractive benefits. When you lease a vehicle from Peterson Lexus, you can expect to spend less on monthly payments and up-front costs due to only paying the vehicle’s depreciation and not the purchase price. With leasing, you can easily return the vehicle at the end of the leasing period and switch to the latest Lexus model, so you’re free to explore all types of vehicles, from sedans to SUVs. What’s more, routine maintenance costs are covered by the lease agreement, so you can rest easy knowing repairs are taken care of. In comparison to buying, however, there are some factors to consider. Leasing a vehicle means working hard to keep the vehicle in sellable condition, so expect charges on your end if you exceed normal wear and tear, and you can’t add car accessories as you like. This also means the number of miles you drive per year is limited, often from 12,000 to 15,000 miles. With all this in mind, leasing a vehicle in Boise, ID may just be your solution!
Choose the Right Lexus Lease or Loan for You
At Peterson Lexus. we are happy to help navigate your options between buying or leasing a new or used Lexus vehicle in Boise, ID. Our Lexus auto experts will provide you with all the resources and estimates beforehand so the auto finance process is as transparent and honest as possible. If you have any further questions about buying or leasing, or if you’re interested in applying for financing, valuing your trade-in vehicle, or checking for the latest leasing offers, we’re here to help. Call or visit our Boise, ID Lexus dealership to get started!
