New Car Leasing vs Buying

New Car Lease vs Buy

Why Lease a New Car?

If you like to drive newer, safer, more reliable cars, trucks, or SUVs, not commit to a big down payment every 3-4 years, and also don’t travel an exorbitant amount of miles every year, then a new car lease should be the right choice for you. Leasing is designed for those who would prefer to escape the hassle of buying and selling every time they want to get into a new vehicle.

Why Buy a New Car?

On the other hand, if you like long term relationships with a higher sense of commitment and ownership, then buying could be what’s right for you. Car-buying is typically best for shoppers who will not mind driving the same car for over five years or even until it’s no longer fit for the freeway.

Leasing vs Buying: Which Is Right for You?

Knowing the pros, cons, and overall benefits of leasing vs buying a vehicle is imperative. Be sure to contemplate potential savings, vehicle ownership, monthly payments, and repair costs when considering the best new car or truck financing type for you.

Leasing vs Buying: Ownership

When it comes to vehicle financing, new vehicle ownership absolutely comes along with many advantages, most associated with absolute ownership of the car or truck. You may not realize, however, there are also some great advantages to leasing, as well. It’s imperative to consider all financial aspects including depreciation, down payment, monthly payments, term length, buyout payments, interest rate, and maintenance & repair costs, before making a decision. A careful inspection of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the perfect choice between leasing and buying a new car.

benefits of leasing vs financing a new car

Monthly Payments

Car lease payments are often less expensive in comparison to auto loan and car financing payments as the typical lease contract is pretty much renting with the option to buy out near the end of your lease term. Remember when leasing that you’ll need a healthy credit score, and will be asked to carry collision and comprehensive insurance, though the same can be said for the lower rate auto loans. Though it can add to your monthly payments, it is also wise to select a model with the features you want or need, as personal satisfaction is often priceless.

should i lease or finance a car

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It’s important to remember this when calculating monthly costs of leasing vs ownership. Regardless of what make and model you choose, mechanic bills are an unknown cost that can quickly add up. And for those who aren’t certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.

is leasing better than buying

Investment vs Savings

Generally speaking, a new car or truck lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car, truck, or SUV at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for going over mileage, terminating the vehicle lease early, or putting on excessive wear and tear. For maximizing investment on a financed/purchased vehicle, you can pay it off quickly and also avoid excessive wear and mileage.

LeaseBuy
Maintenance & Repair CostsTypically IncludedNot Included
Down PaymentSmaller Down PaymentLarger Down Payment
Monthly PaymentSmaller Monthly PaymentsLarger Monthly Payments
OwnershipNo OwnershipPride of Ownership
APR %Credit-BasedCredit-Based
Finance TermApprox. 2-4 YearsApprox. 3-6 Years
Savings/InvestmentShort Term SavingsLong Term Investment
Vehicle CustomizationNot AvailableAvailable
Pre-Owned VehiclesNot AvailableAvailable
Poor Credit FinancingNot AvailableAvailable
New VehiclesAvailableAvailable

Nissan Lease and Finance Offers In Beaumont TX

Mike Smith Nissan knows that choosing the right Nissan car and financing option is never easy. Our team of experienced Nissan lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Beaumont, TX. We look forward to serving you.


Kelsey in service was extremely helpful and had a very positive attitude and smiled the whole time! That says a LOT to me! Service did a great job and I will be back!

Customer: Angie Lane
Date: 2020-12-17

Speedy Service

I got an oil change, tire rotation, and car wash done in about 30 minutes. It was all at a reasonable price and I thoroughly enjoyed their customer service!

Customer: BLAnomoly
Date: 2020-12-13

Great service!

Albert was great! I am definitely going back to him for my next purchase! My family and I were well pleased with the service and our monthly note!

Customer: DH
Date: 2020-12-11

Working with Evelyn makes everything seem so easy! She is a great person. Mike Smith's Nissan of Beaumont hired a great sales person. Evelyn does her best to get you the best deal around. I do not want to buy another car from anyone else. Evelyn is the best!

Customer: Charlotte. Holland
Date: 2020-10-15

I love my car 2020 Nissan Murano, was very nice and smooth deal thank you all mike smith team for working with me. Tailor is my service advisor she is very knowledgeable and friendly.

Customer: claudia chica
Date: 2020-10-07