Should you buy or lease your new Nissan?
One of the most important decisions you’ll make when it comes to picking out a new vehicle at Nissan of Lawton is whether or not you want to buy or lease. Both options offer plenty of benefits to a driver, and we’ll be happy to talk through your options with you. Here are some things to consider before you visit our lot in Lawton.
How Tough You Are on Your Vehicle
Are you someone who gets scratches and dings on your car? Do you have children or pets that could damage your vehicle? Then, you might want to buy your vehicle to avoid wear and tear fees. That way, you can do whatever you want to your vehicle with no repercussions other than a lessened trade-in or resale value.
Your Monthly Budget
Leasing a car often offers lower monthly payments than financing a car with the same loan terms. You only pay for the depreciation on your vehicle instead of for the entire vehicle cost. If your budget needs a little wiggle room, you can choose to lease without giving up the features you want in a vehicle.
The Money for a Down Payment
Most lease agreements offer low or no down payments, and you’ll likely pay less sales tax. If you haven’t saved a lot for a down payment, leasing is a great way to not impact your savings as much.
How Much You Drive
A good rule of thumb is if you drive more than 10,000 miles a year, leasing might not be a great option for you. Most lease agreements have mileage limits and you’ll pay extra for each additional mile. It’s usually better to get a loan for your vehicle and purchase it if you put a lot of miles on your vehicle each year.
Where You Will Be in Five Years
If you can’t answer this question, leasing probably isn’t for you. To avoid early termination fees, you don’t want to lease a car unless you know you can keep it for the entire agreement. Unlike a purchased car that you can sell, you’ll be looking at losing a lot of money if your life changes in a way that makes you have to terminate the lease early.