TO LEASE OR NOT TO LEASE?
SHOULD I LEASE OR FINANCE A NEW CAR?
It’s exciting when the time rolls around to bring home a brand new vehicle. Independence, change, and adventure await! There’s a lot to think about as well including how you want to pay for your car. So, should you lease or finance a new car?
When you visit your Nissan Dealer in Duarte for a brand new vehicle you have two options for taking home a new car. You can finance your vehicle or lease it. Choosing the best option for yourself depends on your own goals and life situation. Understanding what is involved in each will help you make the right decision.
Did you know that car leases account for 30 percent of all new car sales now? When you lease a car you make a down payment and agree to continue to pay a monthly fee for the length of the contract. When the contract is up, you can either purchase the car or return it and lease a new vehicle. Could leasing a vehicle be right for you?
Do you have a temporary job? Are you planning on growing your family in the next few years? Do you love the thrill of driving the newest vehicle on the market? If you answered yes to any of these questions than leasing a car might be the right option for you.
A lease can make sense if you’re planning on expanding your family in the next few years but you’re not there yet. There’s no reason to buy a larger vehicle until the new family members arrive, but you might still need something new to drive. Instead of buying a brand new car, you can lease one for the time that you need it. Only going to be in the area for a few years? Consider leasing a vehicle for just the time that you need it. There’s no reason to get entangled in the purchase of a brand new vehicle if you won’t be using it for very long. Lease a vehicle for the time that you need it and when your time is up and your lease is up, you’ll be car free! There may be other life circumstances that would also lend themselves to needing a vehicle only for a limited period of time. Considering a lease may be an out of the box way for you meet your transportation needs.
A TASTE OF LUXURY
Leasing a vehicle gives you the opportunity to experience the upgrade of a vehicle you might not be able to afford through traditional methods. Remember you are only paying for the car for the time that you have it, so make the most of it and lease a vehicle that gives you the thrill of a new luxurious vehicle.
THE THRILL OF CHANGE
Leasing a car is an attractive option for someone who loves the thrill of a new vehicle every few years. If trying out the newest features and technologies in a car is up your alley, than leasing a vehicle will help you scratch that new car itch. A lease gives you the opportunity to upgrade your car every few years so that you get a chance to experience a newer vehicle. Explore the full Nissan car lineup this way. Enjoy the excitement of driving new and different kinds of vehicles when you lease. You will always be on top of the latest trends and cultivate a taste for what you really like.
An added perk is that you’ll be getting this vehicle for the best years of it’s mileage life. Enjoy driving a car only when it’s at it’s best.
If you frequently worry about having to make major repairs on your vehicle, you won’t have to worry about it with a lease. Warranty will cover any major repairs that pop up for the duration of the lease. But major repairs are unlikely to be a factor because the vehicle is brand new. You can feel confident that your car will be running smoothly for the time that you have it. Your overall monthly payment is lower with a lease as well. Enjoy spending your money on the things you want to spend it on because you’ll be spending less on a car payment. If you’re a business owner, a lease might also work to your advantage. You can deduct some of your lease payments if you drive the vehicle a lot for business. This can save you money that you can put towards something else.
MAKE THE COMMITMENT AFTER ALL
Should you decide you like the vehicle, you can always choose to purchase the vehicle at the end of the lease term. This is a great option for any vehicle you end up loving more than expected or if your circumstances change. We’ll be happy to discuss your options with you when the time comes.
FINANCING A NEW CAR
As you can see, there are a lot of reasons that you might want to lease Nissan vehicles. What about financing a new vehicle, though? Is that still a great option? It might be the right choice for you.
Do you prefer long term security? Are you looking to make an investment for your future? Do you like the freedom of knowing you can drive as many miles as you need or that you can customize your car the way that you want to? If your answer is yes, than financing a vehicle might be the way for you to go.
FREEDOM TO DRIVE
If you drive a lot of miles, have a hefty commute, or want the freedom to feel like you can come and go as you please, then you definitely want to consider financing your new vehicle purchase. Financing the car will keep you from having to set any limitations on how often you drive as you won’t need to pay any extra fines for exceeding a set limit of miles. Go on that cross country trip you’ve always dreamed about in the security of your own car.
SENSE OF OWNERSHIP
A huge advantage to financing your new car is that will you own it. Ownership can provide an increased sense of security when you are on the road and as you face any unexpected circumstances in life. A lease can be more difficult to get out of should something come up. There’s a great sense of pride in owning something as well. If you love having pride in your owned vehicle, you definitely want to consider financing.
Love customizing your car to fit your own personal lifestyle? If the car isn’t exactly how you want it on purchase, you can make changes and alterations so that it better fits your needs and lifestyle. Go to town and make your car a beauty just for you! You own it so you can do whatever you want with it. You will also reap the value of any extra customizations for yourself when it comes time to sell the car. Be at home in your vehicle when you’re on the road!
NO NEED TO WORRY ABOUT CREDIT
In general, it’s easier to secure financing for a car you plan to buy rather than for a lease. So if you’re a little worried about your past credit history, you may want to focus on figuring out a way to buy a car. If you have money for a downpayment, that will help to lower your monthly payment and your overall costs.
FREEDOM TO WEAR AND TEAR
You don’t have to worry too much about any wear and tear that your vehicle experiences. It’s your car and while clearly it’s important to keep it in the best shape possible to retain value, you won’t have to pay any excess fees as you would with a lease. While you may be concerned about whether or not the vehicle will lose value when mishaps happen, you won’t be directly accountable for them in the immediate time frame.
While on the surface whether you lease or finance a new car may seem like a situation where you’re making payments each time, you’ll build equity with any financed car.
SELL AT ANY TIME
When you finance your car, you can sell it any time depending on what is happening in your life. The car is yours and while you may still owe money on it, you might be able to use the money from the sale to pay off any of the remaining loan that you have. When leasing a car, you will discover that it might be costly to get out of the contract.
The final decision on whether or not to buy or lease a car is up to you. There are pros and cons to both and the best decision ultimately rests in what works for your own lifestyle. You shouldn’t be afraid of either option. At Nissan of Duarte, we want to help you make the right decision for your needs. We’ll be happy to talk through your options in more detail with you so that you can walk away with the perfect fit. Call us today!