Have you been considering a Jaguar lease, but aren’t sure if it’s right for you? You’ll be pleased to hear that there are lots of perks to an auto lease. We’re answering our leasing FAQ at Jaguar Northfield to help you decide if it’s right for you.
How is Leasing Different than Financing?
Leasing and financing may seem similar because they both include monthly auto payments. However, an auto lease is essentially a rental. You’ll make payments throughout the duration of your lease and then return the car to our dealership once your lease term is up.
How Much Does a Lease Cost?
Leasing is typically much more affordable than financing. A lease’s cost is dependent on the vehicle’s cost and its estimated cost at the end of your lease, which is known as its residual value. You’re responsible for paying the difference between the two, which is the vehicle’s estimated depreciation in value.
What if I Don’t Want to Return it?
Many drivers have the option to purchase their vehicle at the end of their lease. You need to have a buyout option in your initial contract. When it’s time to return your vehicle, you’ll have to pay the buyout price or apply for auto financing to cover the cost.
Should I Buy Instead?
Leasing isn’t right for every driver. If you’re interested in building up equity in your vehicle or want to work towards living without a car payment, financing is a better option for you. Leasing also comes with mileage restrictions, so consider how much you drive before you lease.
Apply for a Jaguar Lease in Northfield, IL
Whether you’re interested in leasing or financing, we can help. Our team is happy to review your options with you. Visit Jaguar Northfield to get started today!
