If you’re looking at our new vehicle inventory, you may be wondering “Should I buy or lease my next vehicle?” This is a common question many San Marcos drivers ask themselves when they browse our Nissan inventory, especially after they see our new vehicle specials. While neither option is ‘better’ than the other, the option that’s best for you will depend on your budget and your personal preferences. Learn more about the differences between lease vs. buying below to find the right option for your new vehicle purchase.
When you lease a vehicle, you’re essentially ‘renting’ it from your lender until the end of your lease term. When you buy a vehicle – also called financing – you’re making payments on the vehicle until you own it in full. The costs for each will vary, read more about the lease vs. buying costs below:
The Bottom Line: How long you plan to own your vehicle will be a deciding factor on whether you should buy or lease. If you only need a vehicle for a few years or if you want to trade-in your vehicle for the latest technology, then leasing may be the best option for you. However, if you plan to own your vehicle for four or more years, then financing is the best option for you.
When you sign a loan with a lender, you’re agreeing to the lender’s terms and conditions while the car is in your possession. These terms could dictate insurance coverage, vehicle customization, or mileage limits. Read more below.
The Bottom Line: Drivers who commute a short distance and typically use their vehicle to travel around town won’t have an issue with leasing mileage limits. However, if you want to customize your car or drive long distances often, you’ll find financing better fits your needs.
Both financing and leasing come with a contract. However, when you finance a vehicle and pay it off, the contract goes away. When you lease and continue to lease a vehicle, you’ll always have to adhere to a leasing contract.
The Bottom Line: The simplicity of leasing is a major draw for drivers in Lakeway, but if you’re comfortable maintaining and reselling a vehicle, the money you get for trading in a purchased vehicle could help to offset a future car purchase.
Now that you have a better understanding of the differences between lease vs. buying, browse our vehicle inventory to find the right Nissan for your needs! When you’re ready, you can discuss your financing or leasing options with our finance team or learn more about Gap Insurance protection. Contact us today, we look forward to putting you behind the wheel of a new Nissan!
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