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Buying Vs. Leasing

Buying vs Leasing

When it comes to buying or leasing a car the options can be confusing. To help you make an informed decision we have provided the information below. We hope you find it informative and useful.

When you buy the new or used car you pay for the entire cost of the vehicle. When you lease the new or used car, you pay for only a portion of the vehicle’s cost, which is the part you use during the time you are driving it.



Buying

Who Owns It


Whether you pay for the car with cash, or finance it and make monthly payments, either way it’s yours. Of course, if you’re financing it, you’ll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don’t, they have the right to repossess it.


Up-Front Costs

If you’re financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender’s requirements and your credit score.


Future Value

Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)


End Of Payments

Once you’ve paid off what you owe on your contract, that’s it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.

Leasing


Who Owns It

You do not own the car when you lease. You’re paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.


Up-Front Costs

Leases often do not require any type of a down payment. All you usually have to pay is the first month’s payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.


Future Value

In most leases you don’t end up owning it so you don’t end up selling it. That’s the financial institution’s job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.


End Of Payments

Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we’ll make sure you have your lease set up the way you want it.


Best Cars to Lease

The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value.




Should you buy or lease a new Nissan in South Carolina? Hudson Nissan of Charleston has the answer!

The age-old question is back again. Is it better to lease a new Nissan in South Carolina or to purchase a new Nissan in Charleston? That is the question! Here to clarify is Hudson Nissan of Charleston with our thoughts and suggestions. Whether you are thinking about leasing a new Nissan Pathfinder in Charleston or a new Nissan Versa Altima in Charleston we at Hudson Nissan of Charleston know that our financial and sales experts will walk you through every step of the process all exemplifying impeccable Nissan service in Charleston, South Carolina. If you are grappling with the concept of buying a new Nissan in Charleston the four concepts you need to keep in mind are, who owns the vehicle, the up-front costs, the future value of your new Nissan in South Carolina, and the end of the payment period. If leasing a new Nissan in South Carolina seems more up your alley five concepts should be in the forefront of your mind. The best cars to lease, the end of the payment period, the future value of the new Nissan in South Carolina, the up-front costs of the new Nissan in South Carolina and who owns the Nissan in Charleston will be the biggest factors to keep in mind during your time at Hudson Nissan of Charleston with our financial and sales experts. Ready to get down to the bottom of this age-old question? Come on down today to Hudson Nissan of Charleston to meet with our financial and sales experts and discover if leasing or buying a new Nissan in South Carolina is the right choice for you.

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