We answer all kinds of questions about financing vehicles here at Nissan of Mission Hills, but the most common question we receive is whether our customers should lease or buy their next vehicle. That's why at Nissan of Mission Hills, we work hard to make sure that every one of our customers knows all the important details about buying versus leasing. Our team is always here to work one-on-one with you to find the best option for your lifestyle and budget, whether you lease or finance your next vehicle.
Buying A Car
- If you plan on keeping your vehicle for as long as possible, then buying is the perfect option for you. Payments are generally higher the purchasing, but each payment helps you build equity in your vehicle and in time you will outright own the vehicle.
- Buying a vehicle means you don't have to worry about mileage restrictions, as opposed to leasing. If you drive your vehicle a lot, then buying is the way to go.
- If you keep your vehicle past the life of the loan, you'll eventually be free of loan payments.
- Insurance costs are generally lower on vehicles you purchase than on vehicles you lease.
- Since you've purchased your vehicle, you're free to sell your vehicle at any time.
- There are no repercussions if you create stains on the carpet, but under a lease agreement, you will be held financially responsible for each stain at the end of the lease.
- You can add accessories or make modifications to your vehicle when you own it.
Leasing A Car
- If you like driving the latest vehicles and are thinking of trading in your vehicle every two to three years, then leasing is the option for you.
- Lease payments generally lower than if you were to buy the same car.
- There are lease programs that require $0 or little cash down, so leasing a car is a choice for you if you don't have the money on hand to make a large down payment.
- Leased cars are typically covered under the manufacturer's warranty for the duration of the lease. Such warranties are usually bumper-to-bumper and cover any needed repairs.*
- If you want the latest technology in your car, then leasing is the best option for you. Leasing means you are always driving a car that is, at most, only a couple years old, meaning that whatever model you lease will have the latest technology has to offer.
- Try it before you buy it. You won't have to worry about buyer's remorse with a lease. At the end of your lease, you can always trade-in your vehicle for a model that's more to your liking. By the same token, if you've fallen in love with your leased vehicle, you can exercise your option to purchase it when your lease is up.