Leasing vs Buying a New Nissan Lee's Summit MO
If you are in the market for a new Nissan model, you have a few different options, and we do not just mean the wide variety of vehicles included in the lineup. You can either lease or buy a new car, depending on your preferences. Which one is right for you? Let's take a look at an overview of the benefits of leasing vs buying a new Nissan in Lee's Summit MO.
If you lease a vehicle, the cost is actually coming from the depreciation of the vehicle anticipated over the course of the lease. For that reason, you generally can have lower down payments and lower monthly payments than you would if you bought the car. Another cost that tends to be lower when leasing a vehicle is the cost for repairs. These are lower because many of those costs are already covered by the warranty. Leasing a new vehicle also gives you the opportunity to drive a brand-new car every few years, if that is something you feel you might enjoy. It is worth noting that with a lease, you do not own the vehicle, so customization not approved by the dealer is out of the question. You may also have certain mileage or other limitations in your contract, so if you enjoy taking long trips, this may not be the way to go.
When you purchase a new vehicle, you are financing the entire cost of it, so you will have a generally higher down payment and monthly payment than you would with leasing. You can also save money over the long term if you believe you want to own this car for many years, as once it is paid off, it is yours to keep without any financial commitments. That said, if your vehicle does need repairs, it could be costlier if it is outside the warranty coverage period. Still, the vehicle is yours, so you can customize it as you wish, and drive it as often and far as you would like.
The bottom line is that there is no right or wrong way that applies to everyone. Take a look at your lifestyle, finances, and preferences, and go from there. If you have any questions, please do not hesitate to contact us.