Buying vs. Leasing a Car
If you’re in the market for a brand-new car near Daphne, Mobile, Prichard, and Saraland, an important decision you need to make is whether you’d like to buy or lease. Each of these options can provide a slew of benefits. However, the best one for you will depend on your specific needs.
To get a better idea of the benefits of each option, Nissan of Mobile is here with everything you need to know about buying vs. leasing your next new car.
Buying or Financing a New Car
You can buy a new car in two ways. The first is paying the full price before you drive it home, and the other is financing it.
Financing or buying a new vehicle is perfect for any local road trippers. That’s because this option doesn’t have annual mileage limits. So, you’re free to add as many miles as you want to the odometer.
However, if you choose to buy or finance, you may need a little more for your down payment. Financing plans may be longer, and the payments may be a little larger compared to lease programs, as well, because you are paying for the full cost of the car.
Once you’re finished paying everything off, the vehicle is entirely yours, and you won’t have to worry about monthly payments until you decide to buy your next car.
Leasing a New Car
Leasing a new car offers a variety of benefits that can cater to specific needs. One of the most significant advantages is a lower monthly and down payment. When you choose to lease, you will be responsible for paying for how much the vehicle is worth during the time you have it. This can help make the down payment, as well as the monthly payments, a little lower.
When you’ve finished your lease contract, you’ll have a few options. If you want to keep your car, you can choose to buy it from the dealership. Since you already paid off a portion of it during your contract, you won’t need to pay or finance the full value of the car. You can also choose to lease a new vehicle if you want to upgrade to a more advanced model.
Lease programs generally have an annual mileage restriction, which means you can only drive up to a certain number of miles a year. After that, you may be subject to overage fees. If you’re mainly using your new car for short daily commutes or quick trips around town, this shouldn’t be a problem for you.
Should You Buy or Lease a New Car?
Buying and leasing offer unique benefits that can cater to different drivers in Daphne, Mobile, Prichard, and Saraland. To determine the right option for you, you’ll need to consider your specific needs.
If you drive long distances every day and want to enjoy your vehicle for years to come, buying or financing may be best. If you have a short daily commute, you may want to lease. Either way, Nissan of Mobile will be here to help you and all local drivers through each step of the way.
For more information about leasing vs. buying, contact our finance experts or visit our dealership today!