To Buy or Lease? Which is the Best Way to Drive Your New Nissan?

We understand drivers from Pigeon Forge to Maryville had different reasons they need a car. There are just as many reasons you would decide to lease or buy your Nissan from Twin City Nissan. Do you plan to take a loan for your new Nissan or does leasing sound like a better option? Twin City Nissan in Alcoa will fill you in.

Leasing vs. Buying

The main difference between buying a car and leasing it comes down to ownership. When you take out a loan to buy a car, you do so with the intention of claiming ownership. Whereas leasing a Nissan gives you the freedom to adjust your terms or switch vehicles if the mood strikes you at the end of your term.

If you are a driver who likes variety or perhaps you plan on a change to your lifestyle in the future, you might consider leasing your new Nissan. It allows you the freedom to flex you decision-making muscles over the course of your term. Most leasing terms last between two and four years, meaning you can choose to keep your current Nissan or trade it in for a different vehicle and start a new term.

When you take out a loan on your new Nissan, you do so with the intention of paying off the loan and keeping your car for a while. There is a certain satisfaction and pride knowing you can take ownership of something as important as your car.

Leasing

  • You don't Own the Vehicle
  • You can return the vehicle at the end of the lease term
  • Most leases come with a limit on mileage during your term
  • At the end of your term, you may pay to finance the purchase of the vehicle or lease another vehicle

Loan/Buying

  • Own your vehicle at the end of your loan
  • You will have to sell or trade-in if you want something different
  • No more payments after your loan is paid off
  • Higher monthly payments due to interest, finance charges, taxes and fees

Here is the other main difference: payments. Leasing is a cheaper option over the course of your term for a variety of reasons. Because of the lack of depreciation over the course of your term, you will pay less from the start. Even when you add interest and taxes, your monthly payments are lower. You also save money over the course of your lease, on your repairs and maintance thanks to your warranty coverage.

The monthly payments on your loan will likely come higher because you’re paying off the entire purchase price of the vehicle. Not to mention, you will only be covered for maintance as long as your warranty lasts. Beyond that, you are on the hook.

This is a choice that shouldn't be made lightly. It sets the tone for how you plan to drive your Nissan and your payments for years to come. There are benefits to both buying and leasing your new Nissan. It all comes down to what your personal preference. Do you want to own your car for the long haul, while paying a little more? Or do you like the idea of potentially driving a new vehicle in a couple of years? Whether you are from Knoxville or Sevierville, visit Twin City Nissan to find the Nissan that fits your style and drive one home today.

Categories: Finance