Buying vs. Leasing
Should You Buy or Lease Your Next New Nissan?
When it comes to picking out a new Nissan, you have much to consider. Are you in the market for a car, truck, or SUV? Which features are important to you? How much space and horsepower do you need? Of course, there's a bit more to it than picking out the right vehicle. Picking the right payment method requires some thought as well. Once you determine whether buying or leasing your next new Nissan in Tyler, TX is the way to go, you can start to take the final steps towards taking your dream car home, but which path is right for you?
Buying and leasing both have their benefits. Which one you choose depends heavily on your individual needs. Do you prefer to own your new car, modify it as you please, and rack up as many miles as you wish as you travel around Lindale and beyond? If so, then purchasing your next new Nissan near Jacksonville, TX might be the best fit for you.
Do you prefer to drive a new car every few years, enjoy the latest updates, and take advantage of current styles and technologies? If you love that new-car smell and you don't tend to pile miles high on the odometer, you might find that signing a lease is the right course of action.
If you're not sure whether buying or leasing your next new Nissan near Kilgore, TX and Athens, TX is best for you, don't hesitate to contact us and come find our finance center at our dealership. We'll work with you and go over your individual needs to help you decide which route benefits you the most. If you have any questions, don't hesitate to reach out to us!
Buying a Vehicle
Whether you pay for the car with cash, or finance it and make monthly payments, either way it's yours. Of course, if you're financing it, you'll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don't, they have the right to repossess it.
Up-Front Costs
If you're financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score.
Future Value
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 completely paid off and all yours.
Leasing a Vehicle
You do not 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.
Up-front Costs
Leases often do not 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 it so you don't end up selling it. That's the financial institution's job. Although, you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.
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 you have your lease set up the way you want it.
Best Cars to Lease
The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value.