Lease vs Buy

Lease vs Buy

Why Should You Lease a New Car?

If you prefer to drive newer, safer, more reliable cars, but not commit to a sizeable down payment every few years, and also don’t travel an excessive amount annually, then a new car lease may be right for you. Leasing is designed for people who would prefer to avert the hassle of buying and selling each time they want to drive a new car, truck, or SUV.

Why Buy a New Car?

On the other hand, if you like long term relationships with a higher sense of commitment and ownership, then buying may be what’s better for you. Car-buying is typically best for consumers who will not mind driving the same vehicle for over five years or even until the vehicle is no longer fit for the highway.

Lease vs Buy: Which One Is Right for You?

Being aware of the pros, cons, and overall benefits of leasing vs buying a vehicle is imperative. Be sure to acknowledge factors such as vehicle ownership, monthly payments, repair costs, and potential savings when considering the best new car or truck financing type for you.

Buying: Ownership vs Leasing

When weighing the value of vehicle financing, new car ownership absolutely comes along with many advantages, most associated with outright ownership of the car, truck or SUV. You may not realize, however, there are also a few nice benefits of leasing, as well. It’s essential to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A close checkup of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car, truck, or SUV.

leasing vs buying a new car pros and cons

Monthly Payments

Vehicle lease payments are often less expensive in comparison to car financing and loan payments as the typical lease layout is pretty much renting with the option to buy out at the final payment of your lease term. Remember when leasing that you’re going to need a nice credit score, and will be required to carry collision and comprehensive insurance, though the same can be said for the lowest rate auto loans. Although it may increase monthly payments, it is also best to get a model with the features you need or want, as personal satisfaction is often priceless.

is it better to finance or lease a car

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It’s important to keep this in mind when projecting monthly costs of ownership vs leasing. No matter what make and model you buy, mechanic bills are an unknown cost that can rapidly add up. And for those of us who are not certified mechanics with a hydraulic jack and full toolset in the garage, leasing may be the best option for peace of mind.

lease vs buy car analysis

Savings vs Investment

Generally speaking, a new car or truck lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning full ownership of the value of the car, truck, or SUV at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximum investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.

LeaseBuy
New VehiclesAvailableAvailable
Pre-Owned VehiclesNot AvailableAvailable
Vehicle CustomizationNot AvailableAvailable
Poor Credit FinancingNot AvailableAvailable
APR %Credit-BasedCredit-Based
OwnershipNo OwnershipPride of Ownership
Down PaymentSmaller Down PaymentLarger Down Payment
Monthly PaymentSmaller Monthly PaymentsLarger Monthly Payments
Savings/InvestmentShort Term SavingsLong Term Investment
Finance TermApprox. 2-4 YearsApprox. 3-6 Years
Maintenance & Repair CostsTypically IncludedNot Included

Nissan Lease and Finance Offers Near Austin TX

Round Rock Nissan knows that choosing the right Nissan car and financing option is never easy. Our team of experienced Nissan lease and finance specialists are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location near Austin, TX. We look forward to serving you.


My experience continues to be very positive and most satisfactory! The gentlemen assisting during my most recent visit were very professional, respectful, courteous and efficient! Thank you, especially to service advisor Mr. B. Brian! Also, the location is convenient to me, and I very much appreciate the shuttle service being offered. Even during ongoing pandemic, I feel safe and comfortable! Round Rock Nissan, keep up the wonderful, professional atmosphere and the excellent service!

Customer: Mari Carmen Ortiz
Date: 2021-01-29

Pleasantly surprised that I was the only one in line outside! Went inside where I was immediately greeted and informed of what my car needed to have done at that servicing! It was going to be a while, so Luis drove me home so I could work while my car was being serviced. Once it was ready, Lynne called me to let me know and Luis arrived shortly after to pick me up. All in all, it was an excellent visit. 100% satisfaction!!

Customer: Brenda Hatcher
Date: 2021-01-27

Pleasantly surprised that I was the only one in line outside! Went inside where I was immediately greeted and informed of what my car needed to have done at that servicing! It was going to be a while, so Luis drove me home so I could work while my car was being serviced. Once it was ready, Lynne called me to let me know and Luis arrived shortly after to pick me up. All in all, it was an excellent visit. 100% satisfaction!!

Customer: Brenda Hatcher
Date: 2021-01-21

Great experience with Round Rock Nissan and Ricardo in particular. Over the course of two days he went out of his way to prepare vehicles for my wife to test drive until she found one she liked. Working with Ricardo again at the dealership he did everything he could to make the process move fast and make my wife feel as safe as possible given the pandemic going on. We drove away with a nice car for her in short order. Good folks there and thanks again Ricardo!

Customer: Derek Crawford
Date: 2021-01-09

I really appreciate John H helps me. Very patiently took us to see one car after another. Each car is introduced in detail. At the end we bought the car of he recommended. Very good deal, I am very satisfied. Thank you John H, you are the best.

Customer: zeping huang
Date: 2020-11-15