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Leasing vs Financing


There are a lot of questions you will need to answer when shopping for a new set of wheels. Should I get a new car or used model? Which trim level is right for me? Do I want to lease or own my vehicle?

Here to help you answer all of these questions, our Acura of Abington team is ready to walk you through the entire process of shopping for a car. Before you come by our dealership, you can check out below the differences of leasing vs. financing your car, so you can determine which payment plan fits your lifestyle the best.

Finance Car Deals

Financing a Car

When you finance a car, you are taking out a loan to purchase the vehicle. After your down payment, the loan covers the rest of what is owed for the car. Then over time, you make monthly payments to pay back that loan.

You won’t have to worry about finding your own loan eitherour finance team has a great network of lenders they use to find you a great rate for your auto loan.

By financing a car, you then will be able to own your car. This means once the loan is fully paid off, the car is yours to do what you like. Add different accessories, sell it and buy a new car, or continue to drive it as long as you like.

If you do continue to drive your car, you will be able to start saving for whenever the time comes to get a new car since you no longer will have monthly car payments to make.

Why Finance a Car?

Lease Deals

What Does Leasing a Car Mean?

Leasing a car is a slightly different financial plan. Instead of buying the car with the intention of owning your vehicle, a lease is essentially the option to rent the car for an extended period of time.

Most leases last for a few years, and during that time, you will make monthly payments on your leased vehicle. These payments tend to be lower, though, since you are only paying for the depreciation of the vehicle for the duration of your lease.

Leases do have a few restrictions, however. There are mileage limitations and, since you don’t own the car, you can’t make different updates or changes to the car. On the other hand, a lease does offer you more short-term flexibility.

When your lease ends, our finance team can detail all the various options you will have. You can jump right into the latest edition of the model you were driving and start another lease. This way, you can enjoy all the newest tech upgrades every few years. You can even switch models, which is helpful if you end up needing more passenger space.

Start Your Search for a New Car Today!

While there are some key differences between buying vs. leasing a car, there is no definite advantage for one over the other. Since both have their own set of unique benefits, it will come down to your personal driving needs.

To get started on the car-buying journey, stop on by our showroom today and check out our inventory! If you have any specific questions about buying vs. financing your new car, you can chat with our finance experts, who will be happy to answer them for you. Our team at Acura of Abington can’t wait to help you find the right car for your commute around Jenkintown, Abington, and Lower Southampton Township! Schedule a test drive today!

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Acura of Abington 40.102887, -75.125567.