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.

The Best in the Midwest.

These guys are the real deal. They are not thete trying to push things off the lot. They actually told me they suspected a transmission problem in the car I was looking at. And helped me find another in my price range.

Customer: LW
Date: 2020-12-02

Angela Colvin outstanding service. Very nice and professional kept me in the loop during repair. Thanks a bunch keep up the great customer service! Well Angela did it again! Provided outstanding service when I needed some additional work done on my old titan. Hope I don’t need her again but if I do I got her speed dial! Thanks keep up the great work.

Customer: James Johnson
Date: 2020-11-23

I was there on Saturday, November 23rd to have my rear brakes changed, the rear rotors resurfaced, and have the brake fluid flushed and refilled. It was about two hours and it was all done. The service advisor was very nice and friendly. She took very good care of me whole I was there.

Customer: David Akers
Date: 2020-11-23

Jamie Whitton

These people are great to work with. They made sure we were very happy in every stage of the process. I highly recommend going to them if you are looking for a new car.

Customer: Jamie Whitton
Date: 2020-11-10

Very helpful

Very helpful.I’m glad they were able to help my family get into a dependable car. No sales pressure, upfront with all details. Ask about their credit repair program.Thanks

Customer: Inmynewride
Date: 2020-11-10