What's the Difference Between Finance and Lease?

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Can’t decide whether it’s best to finance for full ownership, or opt for a temporary lease term with lower monthly payments? Depending on your driving needs and expectations, both leasing and financing offer their own benefits to Las Vegas and North Las Vegas drivers.

When it comes to your unique financial situation, what’s the difference between finance and lease? Get into the details below with the Findlay Acura finance center team, and then find your favorite new or used Acura vehicle in our inventory. We’re proud to serve the Henderson area with Acura MDX lease specials and service specials!

Frequently Asked Lease vs. Finance Questions

Q: If I plan to save money by buying a used car, do I have the option to lease?

What’s the difference between finance and lease when you’re buying a used car? Financing a used car is just the same as financing a new car. You might think leasing isn’t an option for used cars because used car leases typically aren’t advertised, but many dealerships do offer this option you speak with them directly. Leasing a certified pre-owned vehicle can be a great way to save money on both monthly payments and total price — on a nearly-new, low-mileage vehicle.

Q: What if I can’t afford a large down payment?

A: While a bank may require a large down payment for a financing loan, an in-house financing loan through your local dealership can provide more flexibility on your lease payments. Another way to save money is to choose leasing rather than financing. Your monthly payments will be lower, allowing access to luxurious amenities and advanced tech for less money.

Q: What if I plan on driving my car for the long-term?

A: Some Mesquite drivers aren’t able to commit the time to maintaining a car over the long-term. Other drivers enjoy choosing a car they love and keeping it in great shape for many years of driving. If you fall in the latter category, you may be better off financing your new car. At the end of your payment term you’ll own your vehicle, and you can decide whether to trade in or keep on driving it after gaining equity.

Q: If I want the latest advanced tech and features, should I buy or lease?

A: If having the most advanced tech and safety features is crucial for your needs, leasing is your best option. Leasing streamlines the trade-in procedure, making it much simpler than it would be to trade in your financed vehicle and purchase another as soon as new tech hits the scene.

Q: Can I customize my car when I lease?

A: Some dealerships may allow you to choose your trim level or add genuine OEM factory accessories, but customization is limited when you lease vs. finance. If you want to add aftermarket performance or exterior parts or custom paint detailing, you’ll need to finance your vehicle.

Q: What if I don’t want to deal with vehicle maintenance and repairs?

A: Maintenance and repairs are inevitable, but with a lease deal, most routine repairs and maintenance needs are covered. However, finance warranties usually include service plans that provide savings on routine maintenance like oil changes.

Q: If I drive a lot, should I buy or lease my next car?

A: If you know you’ll be logging more miles than the typical driver, be aware that most lease deals come with a mileage limit. If you think you’ll risk exceeding that limit, financing is the better option. Exceeding mileage limits on a lease could rack up significant fees!

Find Your Perfect Payment Plan with Findlay Acura

Ready to take the next step and choose your vehicle? Browse our Acura inventory to find your favorites, and then contact us to schedule a test drive. If you’re still unsure about financing vs. leasing or want to learn what MSRP means, our team of finance experts is happy to answer any further questions and provide helpful car-buying tips!

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