Buying New Vs Car Leasing At Nissan Of Orange Park

To Lease Or Buy – Which One Is Best For Orange Park FL Car Shoppers?

A new car purchase or lease is a major financial decision. But which one is best? What are the differences and more importantly, which type of program fits your budget? This is what we’ll explore today.

In the info below, we’ll explain the differences between buying vs leasing a car, truck, or SUV. We’ll also explore the pros and cons of each, and which program is best for visitors to our Orange Park Nissan dealership, based on a few important criteria.

Finally, we’ll introduce you to the financing department at Nissan of Orange Park and explain why they’re always willing to direct you to the best option based on your individual financial situation.

What Is A Car Lease?

If you like flexibility with the vehicles you drive, lower monthly payments, and the opportunity to trade up to new vehicles every few years, a vehicle lease might be a great option for you. Essentially, an auto lease is a financial arrangement between an automaker or dealership and a consumer.

The program basically permits you to rent (lease) a vehicle for a determined length of time. After the lease term is ended, you’ll return the vehicle to the dealership – or you can purchase the vehicle outright.

What Are Pros And Cons Of Lease Programs?

There are several pros and cons to consider before opting for a new vehicle lease at Nissan of Orange Park.

Here are some of the advantages:

• Low Monthly Payments: On average, a lease will cost Nissan drivers less than a traditional automotive purchase.
• An Extended Test Drive: Leasing a vehicle gives you the flexibility to drive a vehicle for an extended period, without having to purchase it. If you like it, you can buy it – or return it and try something new.
• Reduced Financial Commitment: A lease eases the financial burden or commitment associated with a vehicle purchase. When the term is over, you can return with ease.

Here Are Some Of The Disadvantages:

Comparing A Lease To A Purchase

While a lease is compared to renting an apartment, a new car finance is like buying a house. When you finance a vehicle, you’ll drive off the lot as the owner. However, until you pay the financial loan off from the lender, they will keep the Title of Ownership.

There are several differences between the two:

• Limited Miles: When you lease a vehicle, the driver is limited on how many miles the vehicle can consume each year. This makes it more of a risk for those who commute long miles to and from work each day.
• Potential of Expensive Return Fees: A leased vehicle needs to be returned in prime condition. If the vehicle is damaged, either cosmetically or mechanically, it is the individual’s responsibility to repair prior to returning. If they do not, they can be held accountable for return fees.
• No customization permitted: Unlike a vehicle purchase, a lease prohibits the driver from making aftermarket enhancements.

• Ownership: With finance – you own the vehicle and can keep it or sell it anytime you wish. Your financial commitment is to the lender. A lease must be returned to the facility it was initially leased.
• Down Payments: Most purchases involve trading in a vehicle with equity. This typically is considered your down payment. A lease may require a cash down payment – which equates to a few months of the lease payment plus security deposits and other fees.
• Length of Term: Most leases are two to three years in length and are mainly based on miles per year.

They will work with you to customize a financing program that makes sense, both based on your budget, credit, and driving habits. More importantly, they’ll be honest, transparent, and always operate with ethical business practices, fully disclosing every detail about a lease or purchase.

If you’re considering a new Nissan purchase or lease, visit Nissan of Orange Park today – or set up an appointment to speak with our financing experts today.