If you are interested in purchasing a new Land Rover, there are a number of key decisions you need to make. What model should you go for? Are you going to opt for a new or second-hand Land Rover? Do you intend to lease the vehicle or purchase it? In this article, we deal with the latter. Read on to discover the pros and cons of both buying and leasing to help you make your decision.

Pros of Leasing & the Cons of Buying

There are a number of reasons why car or van leasing is a popular choice. One of the main reasons for going down this route is because it is a lot easier for people to manage financially. Low monthly payments appeal to a lot of people. Not only this, but for business owners, there can be significant tax advantages also.

In addition to the financial benefits,  some drivers prefer this option because it is easy for them to switch car at the end of their lease. All they need to do is drop off their vehicle at the dealer and they can choose a different Land Rover.

Lease owners don't need to concern themselves with fluctuations in the trade-in value of a vehicle, nor do you have to go through the hassle of selling it when you are ready to move on. You will also be able to drive away in a better-equipped, higher-priced, later model Land Rover than you would have been able to afford otherwise.

Plus, the Land Rover will typically be covered by the manufacturer’s warranty, and the lease package may include scheduled maintenance free of charge or at a discounted rate.

Pros of Buying & the Cons of Leasing

As is the case with most things in life, there are a number of disadvantages associated with leasing, which may make buying a Land Rover more preferable for you. One of the main downsides of leasing is the fact that you will end up paying more for the vehicle overall. This is because the asset you are driving is one that depreciates rapidly.

Another factor to bear in mind is that when you purchase a Land Rover, you are free to do what you want to it. This is important because a lot of Land Rover owners like to modify their vehicle. With leasing, you will need to bring the car back in showroom condition, minus the typical wear and tear that is to be expected.

You also need to think about what would happen if you need to get out of the lease before the expiration date. When this occurs, you may be subject to early termination fees and penalties. You may also need to pay excess wear-and-tear charges when you turn your Land Rover in if it is not in a good condition. Some leasing deals include limited annual mileage. This is why it is vital to carefully check the terms and conditions of your lease!