Leasing vs Buying a New Nissan at Mike Smith Nissan
Car Finance 101: Leasing vs Buying
Are you trying to decide between leasing and buying a new Nissan car, truck or SUV? Mike Smith Nissan knows that car financing can be hard to understand at first, but with a little help, we can help you determine which is best for you and your budget. After all, once you’ve found the perfect vehicle, you need to choose how you’d like to pay for it. Buying (financing) or leasing (rent)?
Each purchase option has its own set of pros and cons. Choosing whether to buy or lease your next Nissan car or truck in Beaumont, however, will depend on your budget and the amount of ‘freedom’ you want with your car, so to speak. It’s kind of like deciding whether you’d like to mortgage a house or rent it.
Why Lease a Nissan at Mike Smith Nissan
Leasing a Nissan in Beaumont has its own set of pros and cons, which also depend upon your needs and budget. And for some this might be a better option compared to financing your next car. Leasing is very much like paying rent on an apartment: you pay a security deposit upfront (down payment) and then make fixed payments for an agreed upon length of time, at which point you return the car.
Here are some of the benefits of leasing vs buying a Nissan from Mike Smith Nissan:
- Switch it up: Are you a person who wants the latest and greatest in automotive technology and engineering? If so, leasing may be the perfect option for you because after the end of your lease agreement, you can bring back the car and get a new lease for the newest model that you want.
- Peace of mind: Don’t worry about expensive repairs or maintenance since most leases usually come with comprehensive warranties that last for most of the lease agreement.
- Less money, less problems: When leasing a Nissan, typically your down payment and monthly payments will be lower compared to if you financed the vehicle (depending upon length of the lease and your credit), leaving you with even more disposable income in your pocket.
Just like with buying a Nissan, however, there are also a few reasons why leasing might make this purchase option not the best choice for certain drivers:
- No customization: When you lease from Mike Smith Nissan, you can’t make any changes to the car – period. For most drivers, this is no problem. A lot of people just want a car to get them from point A to point B. But if you’re someone who likes to upgrade the performance of the car or the looks of it, buying is the better option.
- Limited mileage: As part of the lease agreement, you can only drive your leased Nissan for a predetermined amount of miles (usually between 12,000-15,000 miles a year) a year. If you are just using the car to commute to work and run errands around town, say from Beaumont to , then you should be fine. But if you’re a driver who likes to take cross country road trips frequently, leasing might not be the best option for you. Driving more miles per year than the lease agreement states will put you face to face with extra fees for the increased mileage at the time of your Nissan lease return.
Why Buy a Nissan at Mike Smith Nissan
Buying a new Nissan from Mike Smith Nissan provides a number of advantages compared to if you had leased the vehicle. There are, however, several downsides as well. Depending on what your needs are, the upside may be higher than the down.
Benefits of Buying a Nissan in Beaumont:
- It’s yours: Do you like having your own stuff? Well, when you buy (finance) a new Nissan, the car is your property and you can do whatever you want to it. You can change the exterior or interior; including paint, wheels, body, or even install a custom stereo system – you don’t need to ask anyone’s permission, because the car is yours.
- A committed relationship: Do you love cars on a long term basis? Do you enjoy the dependability of owning a car that you can count on for many years to come? If so, then buying is definitely for you.
- No limits: Do you love to drive? If you enjoy going on long-distance road trips or driving on some lonely windy roads just for fun, there is no limitation on where or how far you can go. Drive only 10,000 miles in a year or 100,000 miles. There are no limits.
As with everything in life, there are also downsides to financing that need to be considered before you make your final (and big) decision and decide if buying is right for you:
- Maintenance: While Mike Smith Nissan offers generous warranties and maintenance packages on all our new Nissan cars, trucks & SUVs, if you are going to own the car for the long haul, eventually the warranty will run out and you will have to pay for vehicle maintenance out of your own pocket.
- A liability, not an asset: Unless you’re buying a classic Ferrari or some other type of rare car, when you purchase a new vehicle it is almost guaranteed the value of the car will drop as soon as you drive it off the lot. If you ever decide to sell the car, you will most likely get less money for it than what you paid due to wear and tear, depreciation, and increased mileage.
Buying vs Leasing at Mike Smith Nissan
As you can see, both buying and leasing a new Nissan have their merits. Mike Smith Nissan is here to help you decide which is best for you. Call us today at (866) 990-7134. Our Nissan car financing specialists are ready to help.
Leasing vs Buying a New Nissan in Beaumont TX