Should I buy or lease my car?
Should you buy or lease your next vehicle? When it’s time for drivers in Waycross, Georgia to get a new vehicle, there are many options. At Walker Jones Nissan, buyers can choose among a wide selection of new Nissans with buying or leasing options. Both choices have their pros and cons, however, and buyers should make an informed decision.
The Cost of Buying vs. Leasing
The decision to buy or to lease is usually a matter of cost. When buying a Nissan in Waycross, GA, you can expect to pay upfront for a down payment and taxes and registration, among other fees. When leasing a car, you will usually pay the first month’s payment, a refundable security deposit, some type of down payment and for taxes and registration. With many financing options, most buyers can easily get into the car of their dreams.
If you have purchased the vehicle, your monthly payments are usually higher as you are working towards paying off the entire amount of the purchase price for your Nissan, plus interest and other finance charges. Our experts at Walker Jones Nissan can help you understand how car financing works. With leasing, your monthly payments are usually lower than buying as you are simply paying for the depreciation of the vehicle, along with rent charges, taxes, and fees.
How Leasing Works
Drivers who are interested in keeping their vehicle for a long time will want to purchase it instead of leasing. When you buy your Nissan vehicle, you pay it off and it is yours. With leasing, you do not own the car. You use it, but you will be legally required to return it at the end of the lease period, unless you decide to purchase it at that point. Drivers who have purchased their Nissan will be able to sell or trade in the vehicle anytime they choose and can use the money from the sale to pay off any remaining balance on their loan.
Drivers will pay early-termination charges if they choose to end their lease early, which can be just as costly as continuing with the leasing contract. However, with a lease, the person leasing the vehicle can return the vehicle at the end of the contract, pay and be done. They do not have to worry about selling or trading in the car before getting a new one in Valdosta area.
There are benefits and drawbacks to both leasing and buying. Those who need a Nissan car or truck will want to carefully consider the facts and decide which options works best for them. The staff at Walker Jones Nissan are happy to help drivers learn more about their buying and leasing options. Call 912-283-7783 or stop by today to start driving your new Nissan in Waycross, Georgia.