Leasing vs Buying
Why Lease a New Car?
If you prefer to drive newer, safer, more reliable cars or trucks, prefer not make a big down payment every 3-4 years, and also do not drive an exorbitant amount annually, then a new car lease might be best for you. Leasing is designed for people who prefer to avert the annoyance of selling and buying each time they want to upgrade to a new car.
Why Buy a New Car?
On the other hand, if you prefer long term automotive relationships with a higher sense of commitment and ownership, then buying should be what’s better for you. Car-buying is typically best for drivers who do not mind driving the same vehicle for over five years or even until it is no longer suited for the road.
Leasing vs Buying: Which Is Right for You?
Knowing the pros, cons, and overall benefits of buying vs leasing a car, truck, or SUV is important. Be sure to contemplate potential savings, vehicle ownership, monthly payments, and repair costs when considering the best new car financing type for you.
Leasing vs Buying: Ownership
When considering vehicle financing, new vehicle ownership surely comes with many well-known advantages, most associated with entire ownership of the car or truck. You may not be aware, however, there are also a few nice advantages to leasing, as well. It’s imperative to consider all financial aspects including buyout payments, down payment, monthly payments, term length, interest rate, depreciation, and maintenance & repair costs, before making a decision. A careful audit of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car or truck.
Monthly Payments
Car lease payments are often times less expensive in comparison to car financing and loan payments as the typical lease structure is pretty much renting with the option to purchase at the end of your lease term. Just consider when leasing that you are going to 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 may increase monthly payments, it is also best to get a model with the features you want or need, as personal satisfaction is often priceless.
Maintenance & Repair
Auto leasing often includes regular vehicle maintenance & repair. It is important to keep this in mind when projecting monthly costs of ownership vs leasing. Regardless of what make and model you buy, mechanic bills are an uncertain cost that can rapidly add up. And for those who are not certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.
Savings vs Investment
Generally speaking, a new car or truck lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car 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 maximum investment on a purchased/financed vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.
| Lease | Buy | |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Ownership | No Ownership | Pride of Ownership |
| APR % | Credit-Based | Credit-Based |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Vehicle Customization | Not Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
| New Vehicles | Available | Available |
Nissan Lease and Finance Offers In Kansas City MO
Prestige Nissan Kansas City 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 Kansas City, MO. We look forward to serving you.
outstanding as always
Bryan did an awesome job listening to what features I wanted in a vehicle and then pairing me up with one. I have owned 21 cars in my past and this is my first Nissan experience and I am very happy so far.
Tim Jones is a great person and manager and takes his job seriously. He went above and beyond and the techs did as well.
It was fast and my service tech was very polite and professional
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