Should You Buy or Lease Your Next Car in Glendale, CA
Understand the Advantages of Buying vs. Leasing a Car at Acura of Glendale
Knowing the differences between buying and leasing is key to making an informed vehicle purchasing decision that makes the most sense for your finances, lifestyle, driving routine, and personal preferences.
The Core Difference: Ownership vs. Flexibility
Both paths have unique benefits for Glendale drivers looking for a reliable ride.
Buying Your New Acura
When you buy (finance) an Acura, you take out an auto loan to cover the full purchase price of the vehicle. Once you make that final payment, the title is yours, the equity is yours, and you can drive that car until the wheels fall off.
Leasing Your New Acura
When you lease an Acura, you are essentially renting the vehicle from the finance company for a fixed window of time—usually 24 to 36 months. Your monthly payments do not cover the total cost of the car; instead, they cover the vehicle's projected depreciation over those few years, plus a financing fee. When the contract ends, you bring the keys back to our showroom on Brand Boulevard and decide what you want to do next.
Acura of Glendale is Here to Help
Deciding between buying or leasing a vehicle depends primarily on your long-term goals and daily driving habits around Glendale and the greater Los Angeles area.
Whether you are leaning toward the flexibility of a new precision-crafted lease every few years or the long-term value of luxury ownership, we prioritize setting you up for success from day one. By breaking down the latest Acura incentives and walking you through the long-term cost benefits of each model, our goal is for you to leave the lot with a plan that feels as good as the drive home.
We’ve put together a few quick questions to help you figure out which path fits your lifestyle best.
The following compares the pros and cons of buying and leasing, the economics of each, and why you might choose to finance one way or another.
BUYING
Who Owns It
You can buy a car with cash or finance it and make monthly payments. Either way, it's yours.
If you finance a vehicle, you'll have to meet the obligations required by the lender, like a certain down payment amount and timely monthly payments. If you don't, they have the right to repossess the vehicle.
Most drivers don't have the cash to pay the full price of a vehicle upfront, so most people choose to finance through a dealership, bank, credit union, or private lender to cover the vehicle's value, plus interest, over a period both parties agree on, typically three to six years.
Lenders will look at your income, your credit score, and the cost of the vehicle to determine the terms and interest rates on your auto loan. After negotiating and signing some paperwork, the vehicle is yours to do as you please.
Upfront Costs
If you're financing a car, the bank will probably request a down payment as a form of security. Your down payment should range between 10% and 20% of the vehicle's MSRP to secure your car purchase. This also reduces the cost of your monthly payment.
You can also trade in another vehicle and use any equity toward your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score.
Future Value
New cars depreciate over time. In fact, within the first year of ownership, a vehicle will lose nearly 20% of its value, according to Trusted Choice Insurance. The amount a vehicle depreciates varies depending on its market value, make, model, and even the year it was manufactured.
Despite depreciation, buying a car is a great way to build equity, as long as your payments outpace the rate that its value decreases. You can use this equity to pay for your next vehicle when you're ready to get one.
Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)
End of Payments
Once you've paid off what you owe on your contract, that's it. Your vehicle is 100% yours. The lending institution will send you a lien release as proof that the vehicle is paid off and all yours.
LEASING
Who Owns It
You don't own the car when you lease. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.
Leasing also protects drivers from unexpected drops in value from unexpected circumstances. For example, if the vehicle you lease depreciates due to a recall, this won't affect you the way it would if you purchased a vehicle.
Upfront Costs
Leases often don't require any type of a down payment. All you usually have to pay is the first month's payment, a security deposit, the acquisition fee, and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments, you can always pay more upfront.
Future Value
In most leases, you don't end up owning a vehicle. Therefore, you won't be responsible for selling it. That's the financial institution's job. However, you may have mileage limits-typically between 12,000 and 15,000 miles per year-and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.
Most lease terms range between two and three years, which may be attractive to drivers who like to drive a new car every few years. Leasing could also allow you to drive more car for less money, especially if you can only afford to buy a car at a lower market value.
End of Payments
Most people return the vehicle at the end of the lease term, but some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we'll make sure that you have your lease set up the way you want it.
Acura Loyalty Advantage Perks
Choosing an Acura Luxury Lease means driving a premium vehicle on your own terms, but the perks don’t stop there. Every lease comes with the Acura Loyalty Advantage, a suite of exclusive benefits designed to give you ultimate flexibility, whether your driving habits change or you're ready for your next upgrade.
- Wave Goodbye to Wear and Tear: Life happens, and Acura understands that. Your lease automatically includes a $750 Excessive Wear-and-Use or Damage Waiver. If you choose to stay in the family and buy or lease your next Acura, you may qualify for an additional waiver to cover even more.
- Acura Mileage Forgiveness: With the Acura Loyalty Advantage, you get the flexibility to balance your miles out. If you went a bit over your contracted mileage last time, you can get 1,000 additional miles applied to your next Acura Financial Services (AFS) lease. If you drove under your limit, those unused miles can roll right into your next adventure.
- A Smooth Transition: When your lease comes to an end, the last thing you want to worry about is extra paperwork and costs. As a loyal client, when you choose to purchase or lease your next Acura, you may be eligible to have your turn-in fee completely waived.
Leasing an Acura isn't just about driving a spectacular vehicle today, it’s about enjoying a stress-free, rewarding experience all the way until you’re ready for your next one.
Making the Right Choice
The choice between buying and leasing ultimately comes down to a balance of your financial priorities and your driving habits. If you love driving the newest model year, keeping your payments low, and stay within local mileage limits, leasing an Acura is tough to beat.
If you want to escape the cycle of continuous car payments, drive unlimited miles, and build equity in a legendary premium brand, financing is your best bet.
Stop by Acura of Glendale at 505 S Brand Blvd, in Glendale, CA, today. Our finance center offers a variety of leasing and financing options for the new Acuras and used vehicles in our inventory. If you're ready to lease or buy your next vehicle, contact us online.
Visit Acura of Glendale Today
Ready to explore our inventory or speak with a finance specialist? Stop by our showroom located right in Glendale, CA. We proudly serve drivers from Glendale, Los Angeles, Alhambra, Pasadena, Burbank, and the surrounding communities with competitive finance rates and tailored luxury lease specials.
Where to Buy or Lease a New Acura in Glendale, CA?
Buying vs. Leasing Frequently Asked Questions:
What is the main difference between buying and leasing an Acura?
The primary difference lies in ownership and flexibility. When you buy, you are financing the entire cost of the luxury vehicle to eventually own it outright. When you lease, you are essentially paying for the vehicle's use over a set term, typically 24 to 48 months, which often results in lower monthly payments since you are only covering the car's depreciation.
Is it better to buy or lease if I drive a lot of miles in Southern California?
If you have a long commute through Los Angeles County or frequently travel across California, buying is often the better choice. Purchased vehicles have no mileage restrictions, whereas standard luxury leases typically limit you to 10,000 or 12,000 miles per year. Buying allows you to drive as much as you need without worrying about overage fees at the end of your term.
What are the financial benefits of leasing a new Acura?
Leasing offers several immediate financial perks, including lower down payments and lower monthly costs compared to traditional financing. Leasing also ensures your performance vehicle is almost always covered by the Acura factory warranty, minimizing out-of-pocket luxury repair costs.
Can I customize my vehicle if I choose to buy instead of lease?
Yes! Full ownership is one of the biggest advantages of buying. When you finance to own, you are free to customize your Acura with genuine parts, aftermarket performance upgrades, or specialized cosmetic additions. In contrast, leased vehicles must be returned in their original factory condition, meaning any modifications must be fully removable before the lease ends.
What happens at the end of an Acura lease term?
At the end of your lease at Acura of Glendale, you have three flexible options: you can trade it in for a brand-new Acura model, purchase your current vehicle for the predetermined residual price, or simply return the keys and walk away after a final inspection. This allows you to upgrade to the latest technology and premium features every few years.
How to lease an Acura?
Leasing at Acura of Glendale is a seamless process designed for your success. Start by selecting a model and defining your terms, typically 24–60 months with flexible mileage limits. Our luxury vehicle experts guide you through the application and explain benefits like the Acura Maintenance Program, ensuring you drive away with lower monthly payments and total confidence.