Should You Lease or Buy?
At Southern States Nissan of Raleigh we want to let you know about all of the finance options available.
That way you can make an informed decision, and get the plan that makes sense for you.
With the ever-changing market for new vehicles and trade-ins -- not to mention unpredictable gas prices -- make sure you ask our Finance Manager about leasing. It's a great way to guarantee the value of your vehicle at the end of your committment.
The following balanced information comes right from Nissan. And don't worry! Whether you decide to lease or purchase, we'll make sure that the upfront price is extremely attractive.
How do I decide between buying and leasing?
There are advantages to both, but no difference in maintenance or operating costs. Generally, leases are better for those who drive up to 15,000 miles each year, take excellent care of their vehicles, and want a new car every two to four years. You only have to pay for that portion of the car's life that you use. Buying is ideal if you drive a lot of miles, put your vehicle to heavy or rough use, and want to build equity. You can also sell, customize or trade your Nissan if you wish. Unlike leasing, with purchasing, you often do not require perfect credit.
With a Lease, You Can Usually...
- Drive a new car without a big down payment.
- Get a bigger, better-equipped car than you could afford to purchase.
- Enjoy a new car every few years.
- Pay for only the portion of the car's life that you use.
- Receive tax benefits if used for business (depending on the lease, and state and tax laws).
- Invest any savings in appreciating assets (such as stocks, bonds, etc.).
- Spread applicable sales tax across monthly payments (varies by state).
- Protect yourself. Your lease end value is guaranteed in advance. You don't have to worry about changing market conditions such as gas prices... which can cause trade values on bigger vehicles to drop.
- Enjoy the options to buy, lease another vehicle, or explore other choices at lease end, all without having to haggle over the value of trading it in. Note: There may be end-of-lease costs for excess mileage, wear-and-use, and early termination.
With a Purchase, You Can Typically...
- Build equity.
- Drive as many miles as you want. (Some leases limit you to 10,000-15,000 miles per year not enough if your daily commute is more than 20 miles each way though you can buy additional miles at a discount in advance.)
- Travel with messy kids, pets, over gravel roads, and drive into ding and dent-prone parking lots without worrying about wear and use charges.
- Carry lower limits for auto insurance. See your insurer for actual quotes. (Note: While purchased vehicles typically carry lower insurance limits, some lenders automatically include GAP PROTECTION for leased vehicles.)
- Sell, trade, or transfer title whenever you want (subject to loan requirements).
Paying Cash vs. Financing
Some very attractive financing offers are available from time to time. You may want to consider the value of money in the bank (or investments) versus paying for a vehicle in full.
