Leasing or Buying?

Almost always leasing. Simple quick straight to the point answer. Now here is the reasons why:
-Leasing protects you from vehicle value deflation. This is the main reason Chrysler is no longer in the leasing business anymore, because it pays off for the consumer. When you lease a vehicle you are basically only financing a portion of the vechicle (the selling price minus the residual or Guaranteed Future Value, plus some interest and rent fees). The Guaranteed Future Value protects you from the vehicle you purchased from ever being worth less than the Residual amount. So for example you buy a car for $30,000 and the residual is $18,000 after 36 months, you are protected from the vehicle being worth less than $18,000 at that point. If in fact it is worth less than the residual value of $18,000 the bank will take it back and dispose of the vehicle for you. Hence you are protected.
-You get a new vehicle every 3-5 years! You now have the latest gadgets, safety items and coolest looks all the time!
-Payments are generally lower. Because you are only financing a portion of the vehicle you are essentially financing less money, thus your payments are generally lower.
-You only pay taxes on the portion you use! With a lease in Ohio, you only have to pay the amount of sales tax on the amount you will use. So if you plan on 3 years of use, then you will pay taxes based on the total amount you will have paid for 3 years of use!
-Acura wants you to lease. Because Acura builds vehicles for Lindsay Acura to sell to you they want to build more and more every year. Instead of applying millions of dollars to a 30 second superbowl advertisement, they will apply those marketing dollars towards a lease! Thus knowing that you will probably buy or should I say Lease another Acura. They will entice you with their great payments and excellent deals.
-Acuras have high resale values. This works well for you because your monthly expenditure can actaully be lower for a nicer car because you would be financing less money. Simple.

Now I must say that their is a large group of people that actually want to "own" their cars. They just do not feel comfortable with the bank owning it and would rather finance it or "buy". Understand that until you have the title to the car by either paying cash or paying off a loan you do not have full rights to the ownership until all liens are released from the title. At the end of a lease (most of the time) you have the option to purchase the vehicle, rather than turn it in.

Questions? Email our new car manager, ernie@lindsayacura.com