|Cash price or a down payment, taxes, registration, and other fees.||Upfront Costs||First month’s payment, refundable security deposit, down payment, taxes, registration, and other fees.|
|Usually higher than lease payments, since you are paying off the entire purchase price of the vehicle.||Monthly Payments||Almost always lower than lease payments, since you are only paying for the vehicle’s depreciation during the term.|
|You have no restrictions on how many miles you can drive your new vehicle.||Mileage||Most leases limit the mileage to 10,000 miles per year. You will have to pay charges for exceeding the limit.|
|At the end of the loan term, the vehicle is paid off. You can sell or trade in your car when you want a different one.||End of Term/Vehicle Return||At the end of the lease term (typically two to four years), you can return the vehicle and lease or purchase a new one.|
What’s the best option for financing your next car? This question does not have a quick answer, since there are so many factors involved. However, as a general rule, consider your lifestyle, needs, and preferences when making this decision. Simply put, leasing allows you to get more car for less money, since you only pay for the value of the vehicle that you drive instead of paying for the entire value of the vehicle. On the other hand, buying gives you the freedom of complete ownership and the ability to pay off the vehicle and build up credit when it comes time to buy a new one. Ultimately, it is up to you to weigh the pros and cons of both financing options and determine which method best fits your needs and suits your lifestyle. Visit Jack Ingram Nissan to browse our inventory or schedule a test drive onlinewith us!