What Are the Benefits of Buying vs. Leasing?
You’ve found the new Nissan vehicle to enhance your Gulfport drives, but you’re not sure if purchasing or leasing is the best option for you. “Should I buy or lease?” is one of the top questions car shoppers ask when they visit our finance department. While neither plan is “better” than the other, one may be a better financial option for you! Learn about your options before getting behind the driver’s seat of your next Nissan vehicle at Ray Brandt Nissan of South Mississippi. Don’t hesitate to give us a call if you have any questions!
Leasing vs. Buying: Long and Short-Term Costs
- Leasing gets you lower monthly payments right off the bat. You can also expect to spend less on taxes and down payments. If you choose to lease a new vehicle every few years, your payments won’t change much over the years, and you won’t have to worry about any escalating service or repair costs.
- Financing allows you to eliminate your monthly car payment, with buying a used vehicle is often more affordable than leasing a new one. If you pay off your financed vehicle early, you will end up spending less than drivers who continue to pay less. Your repair costs, however, do grow as the vehicle ages.
Typically, drivers want to keep their vehicle for about three years while enjoying the latest technology features. If this sounds like the ideal situation, speak with our finance team about leasing your next vehicle with us. If you would prefer full ownership, we’ll discuss your financing options.
Leasing vs. Buying: Mileage & Restrictions
- Those who finance want to fully own their vehicle will not have to worry about mileage limits or restrictions.
- Those who lease their vehicles have mileage restrictions to stay within or pay a fee when their lease term comes to an end.
The Bottom Line: If your commute is a short distance, having a lease could work out for you. Those who love exciting road trips will find financing to be a better fit.
Leasing vs. Buying: Total Ownership and Customization
- When you buy a vehicle (or finance its full cost), you customize your vehicle using genuine accessories that catch your eye. You can also modify your new ride more extensively with custom OEM parts or upgrades if you choose, although doing so may void your warranty.
- When you lease, the vehicle must remain as close to factory condition as possible since the dealership still owns the vehicle and they have to resell it when your lease ends.
The Bottom Line: Off-roading isn’t popular with Nissan drivers, but some are interested in performance driving and vehicle customization. If this sounds interesting to you, leasing will not be the best option for you.
Leasing vs. Buying: Freedom, Options, & Processes
- Financing offers flexibility. Even though you’re locked into a contract, you can sell or trade in your car at any time. There’s also the option of refinancing your loan to get a lower interest, which lowers your monthly car payments. Of course, once the car is paid off, it’s yours to keep for as long as you want.
- Leasing is easy and convenient. Take excellent care of the car while it’s in your possession, bring it back to the lease return center when the lease term ends, then drive back home to the Ocean Springs area in your next lease! You may have the option of buying out the lease and bringing that vehicle home for good.
The Bottom Line: The simplicity of leasing is a major bonus. However, if you would prefer maintaining and reselling a vehicle, the money you get for trading in a purchased vehicle helps offset those future costs.
Learn More About Your Leasing and Financing Options!
If it’s time to move forward with buying or leasing your next vehicle, start by checking out our current financing and lease specials online right at home. Don’t hesitate to give us a call if you have any questions or would like to schedule an appointment.