New Car Leasing vs Buying

New Car Leasing vs Buying

Why Lease a New Car?

If you prefer to drive newer, safer, more reliable vehicles, but not make a sizeable down payment every 3-4 years, and also don’t drive an enormous amount of miles every year, then a new car lease may be better for you. Leasing is ideal for those who prefer to bypass the annoyance of buying and selling every time they want to drive a new car.

Why Should You Buy a New Car?

On the other hand, if you prefer long term automotive relationships with a higher sense of commitment and ownership, then buying may be what’s best for you. Car-buying is typically best for people who won’t mind driving the same car for over five years or even until it’s no longer fit for the highway.

Lease vs Buy: Which Is Right for You?

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

Buying: Ownership vs Leasing

When considering vehicle financing, new car ownership certainly comes with many well-known advantages, most associated with absolute ownership of the car. You may not be aware, but, there are also a few nice upsides of leasing, as well. It’s essential to consider all financial aspects including depreciation, down payment, monthly payments, term length, buyout payments, interest rate, 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 ideal choice between leasing and buying a new car, truck, or SUV.

benefits of leasing vs buying a new car

Monthly Payments

Vehicle lease payments are often less expensive in comparison to car financing and loan payments as the typical lease format is basically renting with the option to buy out near the end of your lease term. Just consider when leasing that you are going to need a good credit score, and will be asked to carry collision and comprehensive insurance, although the same can be said for the better rate auto loans. Although it might add to your monthly payments, it is also better to select a model with the features you want or need, as personal satisfaction is often priceless.

is it better to buy or lease a car

Maintenance & Repair

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

is leasing better than financing

Investment vs Savings

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

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

Nissan Lease and Finance Offers Near Houston TX

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

I was highly impressed with them. I especially want to commend Anthony for his customer service, speediness and also, told me about the specials they were having. I was happy to know there was availability since I was a walk-in. His explication was was very thorough. I got an inspection, oil change and tire rotation. I trust them with my vehicle and will definitely go back.

Customer: suleyma osorio
Date: 2021-01-23

Nicolas was awesome. He was patient and answered all my questions to the best of his ability. He went out of his way to make sure I was satisfied with the service and info. I really appreciate what he did for me and would recommend his service any day of any year. Thank you Nicolas! (Give this man a raise)

Customer: Hunter Dryden
Date: 2021-01-21

He was wonderful. Kept me informed on the progress of my...

He was wonderful. Kept me informed on the progress of my repairs. Gave a full report after repaid and checked on us the day after to make sure everything was still ok. Excellent customer service and support. Great temperament and superb attitude.

Customer: treanellscott
Date: 2021-01-19

Nicholas was the best! He explained everything clearly and made me feel comfortable asking questions. He explained the finance options well too and I got approved! Very affordable monthly payments made this experience so much better with Nissan! My car is driving like brand new as it should! I'll def go back to the sterling McCall location and ask for Nicholas O. again!!!! Best service ever!

Customer: Sandra Rodriguez
Date: 2021-01-18

Great experience and would do business again. I bought a used vehicle after a lot of online searching. We had the final price agreed on over the phone so all I had to do was show up, test drive, and sign some papers. Very convenient considering I am an hour away from Houston. Junior and his team were all easy to deal with and no pressure to buy any additional warranties, etc. I really appreciated that.

Customer: Kody Bueermann
Date: 2021-01-09