This original article was published in March. With another big sales event on the way for Independence Day, we wanted to again bring up that sometimes it’s a better option for some to say “let me lease my Nissan”, rather than finance it. For other situations, it may differ.
There are several differences between leasing and buying a vehicle. Each comes with both pros and cons, as well as many simple factors to consider. Personal preference plays a key role in making this decision, as each choice has unique options, from obtaining equity to financial considerations. Choosing to lease rather than buy, or visa versa, can be daunting if you don’t understand the differences between the two options, so in this article, I will help bring to light the many different things to consider and hopefully help you find what is best for you and your family. Now, taking all of these into consideration, the question remains, is it better to buy or to lease my Nissan?
Considerations in Leasing
Leasing a Nissan has most definitely had its perks! For one thing, the contracts usually don’t last longer than 48 months. When the contract is up, you will receive the choice of either renewing your lease or purchasing your vehicle. You may also receive the choice to switch to another vehicle as well, so if you are partial to a new ride every few years, you will like this option. If you chose to purchase the vehicle after your contract has expired, you may be offered a sale for a prearranged amount through your dealership. this can guarantee a hassle-free purchase as all of these items will be discussed when your original contract is written up.
When drawing up your first leasing contract, you will also be able to set your monthly payments to fit your financial needs, making it easier to keep up with your payments. Monthly leasing payments are typically lower than monthly purchasing payments, as they do not offer specifics to the vehicle as they would if you were buying it. If you choose to lease a Nissan, the vehicle you obtain offers no modifications. There is no room for flexibility when it comes to personalizing the leased Nissan, and if alterations are made, they absolutely must be reversed before the vehicle is returned or major fees may be applied.
Another pro in leasing a Nissan is that you could be offered free maintenance for the vehicle when needed. Roadside assistance is also available to be added to a contract drafted, as well as any routine maintenance that is required, for example, oil changes, tire replacements. So you may be more at ease with this choice, as it offers fewer headaches and a guaranteed healthy vehicle.
Considerations in Buying
If you decide to take the path of purchasing a Nissan, there are plenty of things to consider. Many will say that this option is more attractive to those who prefer long-term commitments, as it could take years to pay off the contracts. Also with a longer and permanent contract, and the sale of ownership, this option also offers the ability to build equity for yourself. The taking of ownership is quite attractive to those who would prefer stability and their name to be on the title.
Doing the math, it is cheaper, overall, to buy the vehicle rather than stay in lease after lease. Once the vehicle is paid off, you no longer have to make monthly payments, however, if you opt to keep leases, those payments may be never-ending. Ownership also comes with the responsibilities of maintenance, but also provides the freedom of any and all modifications you could want.
Both of these options give a certain freedom to the customer and can help them decide what their needs are and what they can afford financially. The customer has their own choices in the length of the contract, whether or not this decision is going to be long-term or short-lived. If given the choice, the customer can nearly create their own contract based on their needs and personal preferences, however, if you opt to lease, just remember that you give up some liberties for others. The Nissan is known to be a fabulous vehicle, and with so many models, it’s almost impossible to not find something you don’t like!
Nissan is a dependably made vehicle and uses custom parts, usually requiring repairs to be made through a Nissan dealership or to have the parts shipped to the dealership of your choice. Because these are custom parts they can be quite expensive to replace, making the idea of the lease more attractive to you. The best advice I can leave you with is to make sure that you are aware of all of the differences. When you are unsure, ask questions, check out specials and take your time before making a decision.