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.
Tim in used car sales is phenomenal. Helped us get everything handled via phone and we drove down from Dallas for the fastest car deal we’ve ever worked! Very happy with our new car and the entire experience. 10/10 recommend
Customer: Kyrie Rosscoe
Had an excellent experience working with the folks at Town North Nissan. The sales process was smooth and the personnel were respectful of our time, despite a crazy sale weekend. Val was excellent in helping answer all our questions and helped us get a great deal! Highly recommend Val and the team at Town North Nissan. Will definitely look to them for our next Nissan!
Customer: Mudit G
I had a great experience at Town North Nissan. The Internet Sales Manager Carlos Lopez was awesome. I am not from the area, so I called to ask about a vehicle they had posted online. Carlos Lopez was quick to address all my needs, sent me additional pictures of the vehicle I requested, and gave me the price quote over the phone. I asked if they could hold it for me as it would take me a few hours to drive to get it. Management was more than accommodating to my request. I drove up the next day, was in and out in a flash, and was on my way with my new vehicle. I will definitely be recommending my friends and family to this dealership in the future. Again, thank you to Carlos Lopez and the management staff for making this car buying experience my best one yet!
Customer: Marc Ortega
My experience here was a great one. I’ll definitely be back whenever I need another vehicle. Brandon W was very nice, and knowledgeable. He was very informative and answered all my questions as well as explained everything to where I was able to understand as a first time buyer. He was also very patient and made sure everything was a good experience.
Purchased a new vehicle from Town North Nissan and was assisted by Justin Overton, sales consultant. He has a great vibe! No pressure what so ever, listened, worked on ways to meet my goals. In the end satisfaction. Great person! Anyone out there thinking of buying a new Nissan, go see Justin you will be extremely happy you chose to work with him!
Customer: Andrew Thomas