Buy vs. Lease Your New Vehicle
Buying vs. Leasing Your New Vehicle
Whether you purchase or lease a new vehicle, the finance process involved can seem overwhelming. But at Gastonia Nissan we take the stress out of the process and give our customers the peace of mind that comes with a well-informed decision. We’ll help you make the best choice for your particular budget and lifestyle. The more you know about both options available to you, the better you can make a more informed decision, so we’ve compiled information detailing and explaining the specifics of both. Regardless of your ultimate decision, we have a variety of financial options to choose from. And, of course, you’re always welcome to contact us with any questions you may have.
WHY LEASE A VEHICLE?
Drive Newer Vehicles
Customers who lease have the option to drive a new vehicle every few years if they choose. Plus, because they don’t own the vehicle, they don’t have to deal with the inconvenience of having to sell or trade the vehicle.
The average leasing terms range between 24 and 60 months. Typically, your payments are more affordable with shorter terms. Also affecting payments is the amount of mileage included with the lease. Fortunately, you can choose what fits your needs best. For instance, you’re normally given 12,000 or 15,000 miles per year, but if you need a higher mileage limit, you can purchase more miles at signing.
Potentially More Affordable
Your financial responsibility and, therefore, your monthly payments may be significantly reduced. Plus, if you’re not ready or able to put down a large down payment, then leasing may be a better choice, as there are leasing options that don’t require that you put money down.
Peace of Mind
Because most leases last for three years or less, vehicle that are leased are typically protected by a manufacturer’s warranty.
When your lease ends, you simply return your vehicle and pay any fees remaining (eg. excess mileage, wear and tear, etc.) and taxes. If you’ve decided that you’d like to keep your vehicle — something many people do — you can purchase it for a price that’s already determined and fully transparent. In either case, there’s no need for you to sell or trade the vehicle.
WHY BUY A VEHICLE?
If you’re looking to keep your vehicle for an extended time or, in some cases, indefinitely, then buying is the better option for you. In addition, when you buy a vehicle, you have the option to customize it to match your lifestyle.
No Mileage Limitation
With ownership, you don’t have to worry about mileage, as you don’t have a mileage restriction like you do with leasing. Ownership gives you the freedom to drive as much and as far as you want without incurring fees or needing to pull out a calculator.
When purchasing a vehicle, you can buy with cash or finance it over a period of time. If you pay cash, you become the owner of the vehicle immediately and don’t have any monthly payments to deal with. If you choose to finance, you have an extended period of time (typically three to six years) to pay off the vehicle. And, if you do finance, the experts here at Gastonia Nissan can help you find the most affordable, dependable and competitive rates available.
Ownership gives you a sense of freedom. Because when you make your last payment, you own your vehicle. That means you can keep driving for as long as you want without any further payments. And that means you can potentially put that money you’re saving somewhere else. Plus, you can choose to sell or trade the vehicle at any time. It’s all up to you.
If you have any questions, give us a call or come see us at 2275 E. Franklin Blvd., Gastonia, NC 28054. We look forward to hearing from you and, as always, serving all of our customers in the greater Charlotte area.