Should I Buy or Lease a Jaguar?

Man with dog next to Jaguar F-Pace

Shopping for a new Jaguar for your Aurora commutes? Trying to decide whether you should lease or buy a car or SUV from Jaguar? There are benefits to each, so the right choice depends on your specific needs, preferences, and budget. Check out our guide below to find out which method is best for you.

Lease vs. Buying: Benefits of Buying a Jaguar

  • More Selection: Most dealers have a larger selection of vehicles available for financing compared to vehicles available for leasing. For example, many dealers don’t offer used car leases or certified pre-owned leases.
  • Financing Options: The car financing process is generally straightforward. You may also be able to refinance your loan for a lower interest rate and monthly payments down the line.
  • No Mileage Restrictions: Ask your local Jaguar finance center about the mileage restrictions on lease contracts. If you think you will exceed that mileage limit before the lease period ends, buying might be better so you can drive as many miles as you want.
  • Total Ownership: There are no restrictions on how it’s customized, modified, or decorated. Also, since you own the vehicle, you don’t have to worry about getting fined for excess wear and tear. You can also opt to sell your vehicle whenever you choose.
  • Less Cost Over Time: While buying a new car costs more upfront, if you pay off your auto loan the vehicle becomes less expensive to own the longer you have it–similar to how purchasing a house usually costs less long-term compared to renting.

man driving Jaguar F-Type

Lease vs. Buying: Benefits of Leasing a Jaguar

Jaguar leasing isn’t as uncommon as you’d think. In fact, about 45-50% of Jaguar models in the U.S. are leased, and in bigger cities like New York and L.A. upwards of 70% of Jaguar models are leased instead of purchased. Leasing is a popular choice with luxury brands for reasons including:

  • Lower Payments: Monthly payments, down payments, and sales tax tend to be lower because you are not working towards paying the entire cost of the vehicle.
  • Great Service Coverage: Routine maintenance is usually covered at an authorized service center in a lease warranty as long as you don’t go over the mileage limit. Repairing a luxury model you bought can get quite expensive once the warranty has expired, which is another reason that leasing luxury brands is so popular.
  • Lease-End Options: When your lease agreement is over and you want to lease the latest model, you can pay any remaining fees at the dealership to trade in your lease and drive away in your next vehicle. Or, you can choose to purchase the car you’ve already been leasing.

Finance or Lease a Vehicle at Jaguar of Naperville

Explore all of our monthly Jaguar, Land Rover leasing and financing deals, and head over to our dealership near Bolingbrook and Warrenville to find your next vehicle, like the entry-level Jaguar XE or the all-electric Jaguar I-PACE. If you have any questions, feel free to contact us today and see if you prequalify for credit!

 

More from Jaguar of Naperville

  • Why choose Patrick Auto Body & Collision Centers Over A Local Body Shop?

    Unfortunately, accidents do happen; and when they do, you want to forget about it as soon as possible. If you weren’t aware, you can choose your own auto body repair facility under Illinois law. While you might like the people at your local body shop, they may not have the experience or equipment to help….

  • Jaguar Lease End and Your Options

    You leased your Jaguar for 24, 36 months or maybe even 48 months and now it’s time to decide. Buy it, turn it in or lease another Jaguar. Our team at Jaguar of Naperville can provide advice and options that fit your lifestyle and needs. Below are the 3 options to help make the transition…

  • 5 Things You Should Know Before You Walk Into a Car Dealership

    By: Mark Pechnick   Walking into a car dealership can be an overwhelming process for some but can be a more enjoyable and simple process if you know just a couple of things before you go. Know Your Credit Score Knowing what your credit score is prior to car shopping is beneficial if you plan…

  • 6 Ways to Save When Buying a New Jaguar or Certified Pre-Owned Jaguar from Jaguar of Naperville

    At Jaguar of Naperville, we are dedicated to making it easier for you to shop for car. This article provides 6 ways to help you save thousands and help you understand why our Client Advisors take the time to get to know all about you when you’re buying with us. At the beginning of every…