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105 State Hwy 36, Eatontown, NJ, 07724

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Dealership Info

Phone Numbers:Service Hours:
  • Mon - Sat7:30 AM - 5:00 PM
  • SunClosed
Sales Hours:
  • Mon - Thu9:00 AM - 7:00 PM
  • Fri9:00 AM - 6:00 PM
  • Sat9:00 AM - 5:00 PM
  • SunClosed
Parts Hours:
  • Mon - Sat7:30 AM - 5:00 PM
  • SunClosed

Should I Buy or Lease?

Woman reading a car purchase contract in car dealership


Should I buy or lease my next new car? Although both paths offer distinct benefits, you need to do your research and find the option that’s right for you! This handy guide has been designed to help you compare lease vs. buying options in-depth, so you can move forward with confidence. Here’s a quick glance at the most common considerations that drivers make when comparing lease vs. buying options:

  • When you buy a car, you’ll be paying for the entire cost of a vehicle. Some Rumson-area drivers are able to pay upfront, while most will need to begin a payment plan to repay a car loan – but even if you pay in increments, you still pay the full price of the car.
  • When you lease a car, it’s yours to use for a set amount of time, and you pay a portion of the car’s value each month. That way, you’re only paying for the time you use the car on the roads near Colts Neck and Red Bank.

Reasons to Buy


Owning a car can be a great investment. If you take care of it, you may not need to buy another car for years. Otherwise, you may be able to sell it for a good price when you opt for something new. Because there are no restrictions, drivers who choose to buy instead of leasing will be able to drive as much as they want. And, you can customize your car with accessories, add-ons, paint and bumper stickers, or aftermarket performance enhancers. You’ll also have options like in-house car financing, which can be great for drivers with less-than-ideal credit.


The car is yours and only yours. You might pay for it with cash, or make payments under a financing plan. If you’re financing the car, your lender will require you to meet certain obligations, such as monthly payments or a down payment. Otherwise, your car can be repossessed.


Financing a car means the bank or lender will need an initial payment from you, which is usually calculated according to your credit score, among other factors. You may also choose to trade in your old vehicle, the value of which can be put towards your down payment.


While the value of a new car begins to depreciate as soon as you drive it off the lot, you may be able to sell your car for a fair price as long as you maintain it properly. It’s important to visit a factory-authorized service facility at regular maintenance intervals for this reason. However, even a car in bad shape may be sold for parts or scrap.


You’ll have to pay a certain amount as stipulated in your contract, but once you’re done, that’s it. The institution you borrowed from will send you a Lien Release, which is proof that the vehicle belongs entirely to you and may not be repossessed for nonpayment. The vehicle is now yours.


Many drivers choose to finance because they’re in it for the long haul. They know exactly what kind of vehicle they want, they may be interested in customizing it, and most importantly, they want to keep it for years to come! When you choose to finance a vehicle, make sure that you’re choosing a model with a strong predicted reliability rating. (If you’re financing a used car, do your research and find the most reliable model years.) Financing can help you save in the long term, but only if the amount you save after paying off your loan is higher than the amount that you’re spending on maintenance.

Reasons to Lease


Leasing a car is much cheaper than buying it outright because you’re only paying a percentage of the total price. You won’t have to worry about fetching a good price or finding a buyer for it when you’re done, as the dealership will take it back from you. If you like to have the newest gadgets in your car, leasing may be your best bet, as you can regularly upgrade to drive the latest models. You may also be able to drive a fancier car than you could normally afford. What’s more, most leasing contracts allow you to finance the remainder of the vehicle’s value after your term expires, so you’ll retain the option to keep it for good.


The institution through which you are leasing the car retains ownership. You’re essentially renting the vehicle. Your contract will state you’re using the car for a set amount of time in exchange for a set amount of money.


A lease doesn’t typically require a down payment, but you will have to provide the first month’s payment along with a security deposit, acquisition fee, and any other applicable costs. It’s possible to lower the amount of your monthly payments by increasing your initial fee.


Because you don’t own the car, you will turn it into the leasing agency at the end of your lease. However, pay close attention to any mileage restrictions or wear and tear guidelines—excessive use may cost you extra when you return your vehicle.


You usually just return the vehicle when your lease ends. However, you may be able to purchase it during or after the term of your lease, or trade it in before the term of your lease is over. If you think you might want to employ any of these options, ask your financing agent about them before the lease is signed.


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. (Since used cars depreciate at a slower rate than new ones, you should know that used car leases are available in select cases.) You can review lease ratings to see which cars will depreciate quickly and which cars will stay valuable.

No Matter Where You’re Headed, Take the Next Steps with Us

Now that you’ve had a chance to look through our general overview of lease vs. buying options, it’s time to find the model that’s right for you! If you’re leaning towards a lease, don’t wait to check out our exclusive Monmouth Jaguar lease offers! Interested in financing? Find discounted variants of your favorite models by browsing our new Jaguar special offers today!

Are you still weighing your options? Talk through the ins-and-outs with our financing team today!

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