Pasadena Nissan Finance | Alhambra Buy vs. Lease
Buying vs. Leasing
Buy or Lease a Nissan – Which One is Better for You?
Are you trying to decide between buying or leasing a new Nissan? Read on to learn about the major differences between the two Nissan finance options.
If you choose to buy a vehicle, you own the car when it is paid off. Until it is paid off, the lender owns the vehicle. Of course, if you do not finance the vehicle and instead pay in cash, the vehicle is yours. If you choose to lease a vehicle, it is like renting: you do not own the vehicle, and you must return it at the end of the lease, unless you choose to buy it.
Up-front costs can be higher if you decide to buy a car with Nissan financing. Expect to pay a down payment, taxes and registration. Up-front costs for leasing a vehicle are often lower than up-front costs for buying a vehicle, and include a security deposit and the first month’s payment instead of a down payment.
The loan payments for buying a car can also be higher than lease payments, since the financing is based off of the entire cost of the vehicle plus the other charges and fees; while the monthly loan cost for a lease is based on the difference between the car’s price and what it is expected to be worth when you turn in the car.
There are no mileage restrictions if you buy a car, but the more you take care of it, the better the resale value of it if you choose to sell the vehicle in the future. For a lease, there are often mileage restrictions and guidelines for wear and tear on the vehicle. For either financing options, it is a good idea to maintain your vehicle according to its factory-authorized maintenance schedule.
The decision to buy or lease a Nissan depends on your needs. Visit our California Nissan specials page to check on deals. Our Nissan financing team can help you decide which option is right for you, and answer any questions you have.