Whether you’re looking to upgrade from your current ride or simply need something reliable, searching for a new car can be exciting as well as daunting. There are so many vehicle options on the market today for virtually every price range. The best part is there are many agencies and lenders that offer loans today. With that said, is it better to buy or lease a car?
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When you lease a car you are not only paying a lower down payment and monthly payments, but also lower repair costs. In addition, you are essentially paying less to drive a nicer car. Don’t like the car you chose? You can drive a new vehicle every two or three years, depending on the lease agreement. The disadvantages of leasing a vehicle is you could end up paying more in the long run for a vehicle you don’t own at the end of the lease. You also have a set amount of mileage that you can put on the vehicle and there can be wear-and-tear charges.
In contrast, if you buy a vehicle you can modify the vehicle as you please and you can call it your very own. There’s also no penalty for driving over a certain mileage and you can sell the vehicle any time you want. If you’re not looking to trade-in your ride regularly, buying a vehicle can be more economical for the long term. The disadvantages to buying a vehicle is a higher down payment and monthly payments. You’re also responsible for all the maintenance costs and there’s the hassle of trying to find a buyer when you want to upgrade to a different ride.
Overall, when you lease you truly get more car for your money. And for drivers that like to have the latest and greatest automotive technology, leasing is a great way to constantly upgrade to the newest vehicles. For drivers that just want a smart, reliable vehicle for the long run, buying could be a better choice.
Interested in learning more about how this all works? Contact the finance team at Matt Castrucci Nissan today by calling 855-299-1946! We’ll work with you to help you identify if leasing or buying would be best for you. We look forward to speaking with you soon!
