Deciding to bring home a new vehicle is an exciting decision. The next thing you will need to decide is if you should lease or finance that vehicle. At Gray-Daniels Nissan North, we want to make the decision as simple as possible for you. Let's talk about the advantages of both options, as well as some of the reasons one or the other may not be right for you.

Should I Lease?

Leasing will mean that you drive your new vehicle for a few years and then return it. At that point, you can lease the newest model. Drivers like this option because it means they always have the latest tech and safety features. They also do not need to worry about their vehicle depreciating. Monthly lease payments are typically lower than a loan payment would be, which allows drivers to afford a higher trim level in some cases.

There are mileage limitations when you lease, however. You also have to keep the vehicle in relatively good shape, which may make this option difficult for parents with small children.

Should I Finance?

Financing, or taking out a loan, is a common way for drivers to bring home a new car. This allows you to build equity every time they make a payment, and you will eventually own the car outright after making the final payment. If you want to, you can also sell or trade-in your vehicle at any time. There is also less concern about mileage and damage to the vehicle while you use it.

Loan payments are typically larger. You also have to handle selling or trading in your car when you want to move on to your next vehicle.

Stop by and speak with a member of our team to learn more about leasing or financing your next vehicle.

Categories: Finance