Why Lease vs. Why Buy?

 


Buying vs. Leasing A New Vehicle 

You're on the search for a new Nissan, so you head to Nissan World of Springfield to find your next dream car. The only confliction you have is this: should you buy or lease your next vehicle? While both options offer their own set of pros and cons, Nissan World of Springfield is here to lend you a helping hand, so you can make an informed decision on whether leasing or buying is best suited for your lifestyle.


Leasing A Vehicle

When you opt to lease a vehicle over purchasing one, what does this mean for you - the lessee? Instead of paying off the entire cost of the vehicle over a determined period of time, you are only paying for the depreciation value of the vehicle, which means less money could be coming out of your pockets at the time. Leasing may be the best option for you if you are financially unsure if you can take on the burden of paying off a new vehicle in its entirety or if you enjoy upgrading the car you drive every few years.  

PROS:

  • Down payments and monthly payments will be lower than if you purchased a vehicle. In certain situations, you may not have to provide a down payment.

  • Ability to upgrade your vehicle to a newer model once your lease term is up.

  • During your lease term, maintenance and services are handled, leaving you with more money in your pocket.
  • At the end of your lease term, simply bring your vehicle back to the dealership. You can either opt to purchase that vehicle or look to lease another! There's no need to worry about trade-in deals.

CONS:

  • Since you're only leasing the vehicle, you do not actually have ownership of it, meaning you cannot alter the auto while it's in your possession.

  • Leases have a set number of mileages. If you go over that number during your lease term, you may be subject to an additional fee. The fee will be detailed in your terms by the dealer.

  • If you need to terminate your lease early, you may be left with an additional fee. 
  • Credit approval is needed before you can begin a lease. 


Buying A Vehicle

If you're looking to drive the open road with no limitations, then you may want to consider purchasing your next Nissan. Once you drive off the lot that vehicle is yours, which means if you want to alter it in any way, feel free to do so. Even though you may be paying more upfront for the vehicle rather than you would if you leased it, you could eventually benefit from more options like the ability to sell it or trade it in for another vehicle in the future. 

PROS:

  • As the owner of the vehicle, you can make any alterations to it as you want.
  • You do not have to be concerned with how many miles you're putting on the car.
  • You can sell it or trade it in at any time
  • Financing a vehicle is typically easier than leasing one  
CONS:

  • You have to keep up your own maintenance on the vehicle.
  • Higher payments in the short term until you pay off your loan.
  • The car's value will depreciate over time, meaning you may not make back the money you spent on purchasing it.
  • Unless you sell it or trade it in, you will be driving this car long-term.


Bottom Line? 

Either leasing or purchasing a vehicle will be a fit for you. Schedule an in-person appointment to meet with our friendly sales representatives, who will help you weigh the pros and cons so you can get behind the wheel of your dream vehicle.


Make an Inquiry

*Research based on Cars.USNews.com, Edmunds & Consumer Reports
true ;
true true true true true true true true true true true true