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.
I have been a customer of Town North Nissan since 2011. I started going there because it was convenient to where I worked, but I have continued to have my vehicles serviced at Town North because of the professionalism and honesty I have always received. They have always taken the time to explain things in detail and help me prioritize the work that needs to be done. In all the years I have trusted them with my vehicles, I have never felt taken advantage of. I no longer work near Town North, and have tried out other places that are closer. Unfortunately, these other businesses have never been able to provide the service, honesty and professionalism I have come to expect. It is definitely worth going out of my way to receive this type of service and respect. I highly recommend Town North Nissan to anyone looking for an auto shop they can trust!
Customer: Kathy Mastropaolo
I brought my car in for an oil change, tire rotation and...
I brought my car in for an oil change, tire rotation and state inspection and the service was excellent, very friendly and completed very timely!!
Christie was awesome as a service coordinator. She kept me informed every step of the way and coordinated with me the ability to pick up my vehicle at a later time. I absolutely love this location and that is the reason that I drive across town to have my car serviced here. Another reason this location is the best is because of the service specials they have for their customers. I never feel like I'm being cheated or mislead about any service I have completed. Its well worth the 35 mile drive from my home.
Customer: Cherie Thomas
If you need assistance with building your credit and are serious about it then come to Town North Nissan. These guys actually WANT to help you build it. And they also want you to drive out of there with the car that best suits your needs. Oh, And if you have a trade in then they'll take that too. They're not there to waist your time. They're there to help. CALL THEM! Ask for Ben. He helped me out tremendously.
Customer: Paul Sanchez
Great service. In and out within two hours. Technician kept me informed right down to cost and warranty. I was a happy camper because I was able to use a coupon that was applied toward final bill. What tremendous savings. Thanks Nissan.
Customer: Terry Bronaugh