Should I Buy or Lease a Land Rover?
When you are shopping for your next luxury SUV, you have to decide what the best option is for your lifestyle and driving preferences? Drivers in Chicago face this dilemma of whether to buy or lease their next Land Rover and Range Rover. Land Rover Hinsdale is a leading dealership in Chicago that is here to help you figure out which option is best for you.
WHAT ARE THE BENEFITS OF BUYING A LAND ROVER?
Owning a Land Rover or Range Rover model can be a great investment. If you maintain your vehicle with the factory recommended maintenance, you will be able to sell it for a good price when you opt for something new in a year years. Because there are no restrictions, you will be able to drive as much as you want. You can customize your car with accessories, parts, or aftermarket performance enhancers.
- No Mileage Restrictions: When you buy your next Land Rover or Range Rover model from Land Rover Hinsdale, you have no mileage restrictions like you would with a lease. If you commute a longer distance for work, we recommend considering buying your vehicle. Buying a vehicle means facing no monthly mileage restrictions.
- Total Ownership: The car is yours and only yours. You can either pay cash for your vehicle or make payments under a financing plan. Our finance department will work with you to understand your budget preferences and arrange financing. Your lender will require you to meet certain requirements for approval. Leasing a vehicle basically means you’re renting it. That works well for some people, but many prefer actually owning their vehicle.
- Customization: Buying new means the opportunity to build your Land Rover from the ground up, and you’ll be able to keep customizing with Land Rover parts over the life of the vehicle. When you lease, you won’t be able to make any major changes, and that can be an issue with off-road vehicles like the Land Rover that people often like to customize.
- Future Value: When you buy outright, you can sell whenever you like. You may be able to sell your car in the future after you buy it for a fair price, as long as you maintain it properly. Our Land Rover authorized Service Department is here to help you with regular maintenance and service repairs.
- Financing Options: The financing process is usually a little more straightforward than the leasing process, and you can always refinance your loan to lower your interest rate and monthly payments.
- Less Cost Over Time: Buying a new car is initially more expensive, but you’ll eventually have no monthly payments once the loan is paid off, plus all the equity left in the vehicle.
- Off-Road Freedom: Driving a leased vehicle off-road can be a gamble since any wear and tear may result in additional charges at the end of the term. That’s not an issue when you buy.
WHAT ARE THE BENEFITS OF LEASING A LAND ROVER?
When you lease a Land Rover or Range Rover model from Land Rover Hinsdale, it is more affordable than buying it outright, because you’re only paying a percentage of the total price. If you enjoy driving a luxury SUV with the latest technology and features, leasing may be your best bet, as you can regularly upgrade to drive the latest models.
- Lower Payments: When you lease a Land Rover or Range Rover model, the monthly lease payments are lower than the financing repayments, and you won’t be expected to put down such a large down payment.
- Easy Trade-Ins: When your lease agreement ends, the team at Land Rover Hinsdale is here to help you figure out the best options. Your Land Rover or Range Rover lease end options include; getting into a new vehicle, keeping your current vehicle or returning your current vehicle.
- Great Coverage: Your bumper-to-bumper warranty should cover your lease term, so you won’t need to worry about the headaches and costs of excess wear.
- Best Cars to Lease: The amount you’ll pay for a lease is based on the amount of time you’ll have the car and the amount it will depreciate once you’ve driven it, so the cheapest leases are those for cars that will retain their value after the term of the lease is up. You can review lease ratings to see which cars will depreciate quickly and which cars will stay valuable.
- High Approval Rate: If you’ve been denied an auto loan thanks to a poor or non-existent credit history, you might find yourself approved for a lease.