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2582 Camino Entrada, Santa Fe, NM, 87507

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Dealership Info

Phone Numbers:Online Showroom Hours:
  • Mon - Sun12:00 AM - 12:00 AM
    (Always Open for Online Shopping)
Sales Hours:
  • Mon - Fri9:00 AM - 6:00 PM
  • Sat9:00 AM - 5:00 PM
  • SunClosed
Service Hours:
  • Mon - Fri8:00 AM - 5:00 PM
  • Sat9:00 AM - 3:00 PM
  • SunClosed
Parts Hours:
  • Mon - Fri8:00 AM - 5:00 PM
  • Sat9:00 AM - 3:00 PM
  • SunClosed
Service
Main (505) 474-0888

Leasing vs Buying a New Car

Leasing vs Buying a New Car

Why Should You Lease a New Car?

If you want to drive newer, safer, more reliable cars or trucks, but prefer not commit to a large down payment every few years, and also do not drive an exorbitant amount annually, then a new car lease could be right for you. Leasing is intended for those who would prefer to bypass the hassle of buying and selling each time they want to drive a new vehicle.

Why Buy a New Car?

On the other hand, if you like long term automotive relationships with a larger sense of commitment and ownership, then buying should be what’s ideal for you. Car-buying is typically best for shoppers who don’t mind driving the same vehicle for over five years or even until it’s no longer fit for the street.

Buying vs Leasing: Which One Is Right for You?

Knowing the pros, cons, and overall benefits of leasing vs buying a car, truck, or SUV is important. Be sure to examine factors like vehicle ownership, monthly payments, repair costs, and potential savings when considering the best new vehicle financing type for you.

Buying: Ownership vs Leasing

When weighing the value of vehicle financing, new car ownership absolutely comes along with many well-known advantages, most associated with complete ownership of the car, truck or SUV. You may not be aware, but, there are also a few great upsides of leasing, as well. It’s essential to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A meticulous audit of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car or truck.

leasing vs buying a new car benefits

Monthly Payments

Car or truck lease payments are often less expensive than car financing and loan payments as the typical lease layout is basically renting with the option to buy out near the final payment of your lease term. Just consider when leasing that you’ll need a nice credit score, and will be required to carry comprehensive and collision insurance, though the same can be said for the lower rate auto loans. Although it might likely add to monthly payments, it’s also wise to get a model with the features you want or need, as personal satisfaction is often priceless.

more expensive to buy or lease a new car

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It is important to remember this when calculating monthly costs of leasing vs ownership. Regardless of which make and model you choose, mechanic bills are an unknown cost that can rapidly add up. And for those who aren’t certified mechanics with a hydraulic jack and full toolset in the garage, leasing could be the best option for peace of mind.

analysis of leasing vs buying a car

Investment vs Savings

In general, a new vehicle lease saves money in the short term with lower monthly payments, while buying gets you a long term investment, meaning full ownership of the value of the car, truck, or SUV at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximizing investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.


Lease Buy
New Vehicles Available Available
Pre-Owned Vehicles Not Available Available
Vehicle Customization Not Available Available
Poor Credit Financing Not Available Available
APR % Credit-Based Credit-Based
Ownership No Ownership Pride of Ownership
Down Payment Smaller Down Payment Larger Down Payment
Monthly Payment Smaller Monthly Payments Larger Monthly Payments
Savings/Investment Short Term Savings Long Term Investment
Finance Term Approx. 2-4 Years Approx. 3-6 Years
Maintenance & Repair Costs Typically Included Not Included


Land Rover Lease and Finance Offers In Santa Fe NM

Land Rover Santa Fe knows that choosing the right Land Rover car and financing option is never easy. Our team of experienced Land Rover lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Santa Fe, NM. We look forward to serving you.


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Google Oct 14, 2020
 

Had a great experience at Land Rover SF. Left with a Range Rover Evoque. So happy with my experience there. Love my new ride.

Read more at Google

Google logo
Google Oct 14, 2020
 

Had a great experience at Land Rover SF. Left with a Range Rover Evoque. So happy with my experience there. Love my new ride.

Read more at Google

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Google Oct 12, 2020
 

Always great service!There was a nail in the tire, took the Velar to a tire shop where they wanted to replace all 4 tires saying a repair was not possible. We went to Range Rover Santa Fe the next day and they were able to repair the tire for $26! RR Santa Fe is staffed with honest and talented professionals!

Read more at Google

Google logo
Google Oct 12, 2020
 

Always great service!There was a nail in the tire, took the Velar to a tire shop where they wanted to replace all 4 tires saying a repair was not possible. We went to Range Rover Santa Fe the next day and they were able to repair the tire for $26! RR Santa Fe is staffed with honest and talented professionals!

Read more at Google

Google logo
Google Oct 10, 2020
 

Just had a check engine light come on, Wes was great! Set me up in a loaner vehicle so I could run some errands while they took care of my car. Great service!

Read more at Google

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(505) 474-0888

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2582 Camino Entrada • Santa Fe, NM 87507

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Today's Hours:

Open Today! Sales: 9am-6pm

Open Today! Service: 8am-5pm

Open Today! Parts: 8am-5pm

Land Rover Santa Fe 35.6326819, -106.0228486.