Buy vs. Lease

Red 2024 Nissan Versa driving down a coastal road

Which is Right for You?

Wondering whether you should buy or lease your new Nissan? Well, we’ve put together some helpful information about the two. Come see what the team at Wesley Chapel Nissan has to offer and let us help you find the best option for you.

Benefits of Buying

  • Ownership – At the end of your loan, you own your car with no payments. You can love your Nissan for as long as you want and it’s all yours.
  • No Limits – Drive an unlimited amount of miles with no penalty – if you typically drive your car more than 12,000 – 15,000 miles per year this option is preferable.
  • Personalize – If you like to customize, modify, or repaint, then buying a Nissan is probably your best choice.
  • True Love – Do you get emotionally attached to your vehicles? (Come on, we know some of you do.) You may prefer to purchase to avoid separation anxiety.
  • Asset Retention – When you buy, you retain the benefit of trade-in or resale value. However, since a car is a depreciating asset, you may find yourself a bit upside down if you choose to trade unless your loan has been fully paid off by that point.

Benefits of Leasing

  • Lower Monthly Payment – Monthly lease payments are typically lower than monthly loan payments from financing because lessees only pay for the use of the car, not the entire vehicle. Many times you can lease a Nissan with little or no money down, so there is less out-of-pocket expense at the onset.
  • Upgrade More Often – If you are one of those individuals who likes to upgrade your phone every time a new one is released, then leasing might be for you since you can essentially do the same thing, just with your car. Having the latest technology or safety (or styles or trends) may be important to you – if so, a lease on a vehicle might be for you.
  • More Options – When you lease, you have options available at the lease end. You can choose to lease another Nissan or purchase the one you have grown to love at a much lower, no hassle-pre-determined price. Or, you can turn it in and walk away. Without the hassle of selling or trading in your old car (many times for less than you owe), you can enjoy a simple process that allows you to drive a new vehicle every few years.
  • Little Vehicle Maintenance – Many people lease for the length of time the manufacturer’s warranty is in effect. This way, if any repairs are needed they are typically covered by the warranty.