Lease vs Buy

Lease vs Buy

Why Should You Lease a New Car?

If you want to drive newer, safer, more reliable cars, but not pay a sizable down payment every few years, and also don’t travel an excessive amount every year, then a new car lease could be better for you. Leasing is better for those who prefer to avert the annoyance of buying and selling each time they want to get into a new vehicle.

Why Should You Buy a New Car?

Contrarily, if you want long term relationships with a higher sense of ownership and commitment, then buying may be what’s right for you. Car-buying is typically best for shoppers who will not mind driving the same vehicle for over five years or even until it’s no longer suited for the highway.

Buying vs Leasing: Which Is Right for You?

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

Leasing vs Buying: Ownership

When considering vehicle financing, new car or truck ownership certainly comes with many well-known advantages, most associated with entire ownership of the car or truck. You may not realize, however, there are also a few great benefits of leasing, as well. It’s imperative 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 meticulous checkup of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the optimal choice between leasing and buying a new car, truck, or SUV.

pros and cons of leasing vs financing a new car

Monthly Payments

Car, truck, or SUV lease payments are often less expensive compared to auto loan and car financing payments as the standard lease deal is more-or-less renting with the option to purchase at the end of your lease term. Keep in mind when leasing that you’re going to need a healthy credit score, and will be required to carry comprehensive and collision insurance, although the same can be said for the better rate auto loans. Though it can likely add to your monthly payments, it’s also wise to get a model with the features you want or need, as personal satisfaction is often priceless.

more expensive to finance or lease a new car

Maintenance & Repair

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

is leasing better than financing

Savings vs Investment

Generally speaking, a new vehicle lease saves money in the short term with lower monthly payments, while buying earns 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 savings 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 quickly 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 In Oklahoma City OK

Bob Howard 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 in Oklahoma City, OK. We look forward to serving you.

I had a great experience at bob howard Nissan! An employee named Angela helped me. It was refreshing to have someone who seemed to be genuinely concerned about the condition of my vehicle (I took it in because I am going on a long road trip and wanted it looked over), and not trying to do anything sketchy like has been my experience at other places (just take my money/quote me in things that I don’t necessarily need on my vehicle) hence why I am usually distrusting of mechanics. She was very informative and very straight forward, and I feel secure to be driving to my destination. I will be coming back!

Customer: Hope Evans
Date: 2020-09-03

Bob Howard Nissan did great work on my car today. Chris in service was wonderful! I will be bringing my car to you guys from now on even though there’s a Nissan dealership right by My neighborhood! Y’all make the drive worth it!!

Customer: Jenn Lankford
Date: 2020-08-28

Chris needs a raise. He is an awesome employee. Always making a hard situation turn in with laughter. He has helped with fixing my car after hitting a curb a couple months ago. I brought it back in for more repairs from the residual, and he was very thorough in making sure what the cause was, and making cost of repairs a less stressful conversation. Definitely an employee Bob Howard Nissan needs to keep.

Customer: Mary Cobb
Date: 2020-08-16

I got there at 7:00 out by 9:30. I went in initially for an oil change and I definitely appreciate the service department for caring enough about my safety. They provided me with detailed information about a problem they saw that could have ended badly. I ended up having to replace a tire. Keep doing what you’re doing because I’ll definitely buy my next Altima from you all. ❤️❤️❤️❤️❤️ Thank you for your excellent customer service Mrs. Moore

Customer: Georgette Moore
Date: 2020-08-15

Outstanding service by Angela Colvin. Very professional...

Outstanding service by Angela Colvin. Very professional and kept me up to date as my Titan was being repaired. Had both cat converters replaced and she even knocked a few buck off the old ticket. The old dawg is running like a champ again! Thanks JJ Johnson

Customer: ajjohnson10241
Date: 2020-08-13