Lease vs Buy
Why Should You Lease a New Car?
If you want to drive newer, safer, more reliable cars or trucks, but not pay a large down payment every few years, and also do not travel an enormous amount of miles yearly, then a new car lease might be better for you. Leasing is better for people who prefer to avoid the hassle of selling and buying each time they want to upgrade to a new car.
Why Buy a New Car?
Contrarily, if you prefer long term relationships with a greater sense of commitment and ownership, then buying could be what’s right for you. Car-buying is typically best for shoppers who don’t mind driving the same vehicle for over five years or even until it’s no longer fit for the road.
Buy vs Lease: Which One Is Right for You?
Knowing the pros, cons, and overall benefits of leasing vs buying a car, truck, or SUV is critical. Be sure to acknowledge factors such as repair costs, vehicle ownership, monthly payments, and potential savings when calculating the best new car or truck financing type for you.
Buying: Ownership vs Leasing
When it comes to vehicle financing, new car or truck ownership surely comes along with many advantages, most associated with entire ownership of the vehicle. You may not realize, but, there are also a few nice upsides of leasing, as well. It’s imperative to consider all financial aspects including monthly payments, down payment, term length, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A thorough diagnosis 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.
Vehicle lease payments are often less expensive than car financing and loan payments as the normal lease structure is more-or-less renting with the option to purchase near the end of your lease term. Keep in mind when leasing that you are going to need a higher credit score, and will be required to carry comprehensive and collision insurance, though the same can be said for the lowest rate auto loans. Though it may likely add to your monthly payments, it’s also smart to choose a model with the features you want or need, as personal satisfaction is often priceless.
Maintenance & Repair
Auto leases often include regular vehicle maintenance & repair. It is important to remember this when projecting monthly costs of leasing vs ownership. Regardless of which make and model you select, mechanic bills are an unpredictable cost that can quickly add up. And for those of us who are not certified auto mechanics with a full toolset and hydraulic jack in the garage, leasing may be the best option for peace of mind.
Savings vs Investment
Generally speaking, a new car, truck, or SUV lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning outright ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best value 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 financed/purchased vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.
|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|
|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|
Nissan Lease and Finance Offers In Austin TX
Town North 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 Austin, TX. We look forward to serving you.
As soon as I arrived at Town North Nissan, Jose greeted me and got right down to business! He was polite, attentive, personable and shared a great of knowledge, on every inquiry made about my vehicle. He assured my vehicle would get a thorough inspection, which gave me confidence in the expertise of the mechanic. He also walked through the services provided, new tire coverage, wipers, A/C issues, financing options and did not miss a beat! I'll definitely request him next time I need my car serviced!
Customer: Eboney Hills
They where able to get my car in and out on the same day. I was told I was going to have to leave it for at lease a week at another dealership. I was able to get my inspection done on at the same time which the problem was causing me from getting the inspection. Great work and communication from Joe at the service department.
Customer: Jorge Gonzalez
Joe Peterson was professional and courteous. He was prompt to call me with the details regarding my suv and was able have my vehicle ready the next day. I was also given a rental. He handle all the warranty paperwork. I have been with town Nissan for years now and will continue to come back due the professionalism and the good service provided. Thank youJoe, Best,
Customer: Sandra Martinez
I worked with Alan Williams for a no pressure buying experience. I didn't plan on buying a car last weekend, but the way Alan let me just make my own decisions and not push anything was super helpful.
Customer: Jacob Duncan
Fast and friendly service. Christi took great care of us. Used their reservation option and they were very responsive. Thanks for also taking care of our recall issue.
Customer: Rey Rincon