Buying vs Leasing a New Nissan



The decision of whether to buy or lease a car carry many factors and trade-offs. There are pros and cons to each option, so it’s all about finding the option that works for you. Buying a car requires you to pay the entire cost of the car, but you get full ownership. Leasing a car requires you to pay for the time during which you use it. In the following sections, we will look at the points that distinguish buying from leasing.

Upfront Payments

When buying a car, you pay for it upfront. If you are having the purchase financed, you would be required to make a down payment and successive monthly payments. Upfront costs for a lease are usually just the first month’s payment, the security deposit, the acquisition fee, and relevant taxes. Paying more upfront could lead to lower monthly lease payments.

Monthly Payment

Lease payments can be thought of like rental payments for the car for the time you use it. Monthly payments for a purchased car tend to be higher as you are paying off the entire cost of the car.

Ownership

Purchasing a car gives you full ownership, while real ownership in a lease lies with the financing institution from which the vehicle is leased. Buying a car gives you the freedom to make any modifications you want, whereas a lease may come with conditions for modifications.

Buying a car also gives you slack in case of repairs. Leasing terms and conditions may stipulate that you make repairs you may not otherwise have. Some leases also limit mileage, so additional miles will have to be covered by additional charges.

End of Payments

At the end of the loan term, the vehicle purchase is paid off. At this point, you can choose to keep your car or sell it. At the end of the lease term, you must return the vehicle or lease a new one.

Making a Decision

As a rule, consider your lifestyle and needs in deciding whether to lease or buy. If you are near Cranbury, Princeton, or West Windsor, drop by the Sansone Windsor Nissan in Windsor, NJ, to avail the best offers. Here, you will find the best deals for cheap car lease Windsor, NJ. 

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