When owning a luxury vehicle like an INFINITI, the financial journey is as important as the car itself. INFINITI Finance offered through INFINITI Financial Services (IFS), provides customers with a range of solutions tailored to meet diverse financial needs. Whether you’re looking to lease or purchase, understanding the intricacies of financing can help you make the most informed decision. Let’s dive through this Top A Mag‘s Review into what Infiniti Finance offers and some key aspects to consider.
Key Takeaways
- INFINITI Finance offers flexible options for both leasing and purchasing, tailored to fit different financial needs.
- Leasing generally provides lower monthly payments and the flexibility of driving a new car every few years.
- Financing helps build equity in the vehicle, but requires a larger down payment and longer-term commitment.
- Balloon financing combines elements of both leasing and ownership, offering low monthly payments with a final larger payment.
- INFINITI provides several tools like the Lease & Finance Payment Calculator to help estimate costs before making a decision.
Leasing vs. Financing an Infiniti
Before delving into specifics, it’s essential to understand the fundamental differences between leasing and financing. When you finance an INFINITI vehicle, you’re essentially purchasing it, often with a loan that you’ll pay off over a set period, usually between 36-72 months. After completing the payments, you own the vehicle outright. Financing allows you to build equity in the car, but it may require a larger down payment and higher monthly payments than leasing.
On the other hand, leasing an INFINITI through IFS offers flexibility and generally lower monthly payments. However, at the end of the lease term, typically 24-48 months, you return the vehicle unless you choose to purchase it. Leasing is ideal for those who prefer driving a new car every few years without the long-term commitment of ownership.
Infiniti Finance Options
INFINITI Financial Services offers several customized solutions to help you drive away in the car of your dreams. These include:
- Retail Financing: This option is ideal for those looking to purchase and own their vehicle over time. It involves securing a loan and making monthly payments that include both principal and interest. The loan duration can vary, with shorter terms offering higher monthly payments but lower overall interest costs.
- Leasing: Through Infiniti Finance, leasing options are flexible, allowing you to pay for only the vehicle’s depreciation over the lease period, plus interest. You can return the car at the end of the lease or purchase it for a predetermined price.
- Balloon Financing: For those who want the flexibility of leasing but also desire ownership, balloon financing may be a viable solution. In this scenario, you make smaller monthly payments, similar to a lease, but you still have the option to own the car at the end of the term by making a final, larger “balloon” payment.
- Certified Pre-Owned Financing: INFINITI also offers financing solutions for certified pre-owned vehicles, making luxury more accessible while still providing warranty and maintenance benefits.
Key Considerations When Leasing or Financing an Infiniti
Choosing the right finance option depends on several factors, including your financial situation, driving habits, and long-term goals. Here are some critical factors to consider:
- Credit Score: Whether leasing or financing, your credit score plays a significant role in determining your interest rate or annual percentage rate (APR). INFINITI Financial Services provides flexible rates for different credit levels, ranging from “Poor” (600-619) to “Excellent” (740+), though higher scores will yield more favorable terms.
- Down Payment: A larger down payment will reduce your monthly payments and the overall amount financed, whether leasing or purchasing. You can use the INFINITI Lease & Finance Payment Calculator to estimate the impact of your down payment on monthly costs.
- Term Length: Loan or lease terms typically range from 24 to 72 months. Shorter terms mean higher monthly payments but less interest paid over time, while longer terms can spread the cost over several years but at a higher interest rate.
- Mileage Limits: For leases, INFINITI sets annual mileage limits. Exceeding these limits can result in additional charges, so it’s important to assess your driving habits before signing a lease.
Infiniti Finance Benefits
Opting for INFINITI Finance services comes with several benefits that make the financing experience smoother and more convenient. Here are some perks:
- Flexibility: From lease terms to financing plans, INFINITI provides flexibility to fit your financial needs. Whether you’re a first-time buyer or an existing INFINITI owner looking to upgrade, there are plans to suit every situation.
- Easy Online Tools: The INFINITI Lease & Finance Payment Calculator is a handy online tool that lets you estimate your monthly payments based on the vehicle, term length, credit score, and down payment. This can help you make an informed decision before visiting the dealership.
- End-of-Term Options: When your lease ends, you can choose to return the car, purchase it at a set residual value, or trade it in for a new INFINITI. This flexibility makes leasing an attractive option for those who prefer driving a new vehicle every few years.
- Loyalty Programs: INFINITI rewards loyal customers through special financing offers, lease-end bonuses, and incentives, especially for those who lease or purchase a new vehicle at the end of their existing lease.
Frequently Asked Questions (FAQs)
1. What credit score do I need to finance an INFINITI?
Typically, a score of 600 or higher will qualify you for financing, though better terms are available with a score of 740+.
2. Can I purchase my vehicle at the end of the lease?
Yes, INFINITI Financial Services allows you to purchase the car at a predetermined price at the end of your lease term.
3. What are the benefits of balloon financing?
Balloon financing offers lower monthly payments, similar to leasing, with the option to own the vehicle at the end by making a larger final payment.
4. What are the mileage limits for an INFINITI lease?
Most leases come with mileage limits, usually 10,000-15,000 miles per year. Exceeding this limit can lead to additional charges.
5. Does INFINITI offer financing for certified pre-owned vehicles?
Yes, INFINITI Financial Services provides financing options for certified pre-owned vehicles, which often come with extended warranties.
Conclusion:
Ultimately, choosing the best option between leasing or financing comes down to your personal preferences and financial goals. For those who want lower monthly payments, the ability to drive a new car every few years, and the flexibility of not committing to ownership, leasing is a great option. However, if you want to build equity and own the car outright, financing is the better route.
INFINITI’s broad range of financial services ensures there’s a solution for every type of buyer. Use their online tools and consult with their finance experts to determine which option works best for you.
By understanding your needs and leveraging the tools provided by INFINITI Financial Services, you can confidently make your next car purchase or lease with ease. Whether you’re leaning toward owning or leasing, Infiniti Finance has options to get you behind the wheel of your dream car.