Finance vs. Leasing
Discover the Pros & Cons of Financing or Leasing a Car in Easley, SC
Should You Buy or Lease Your Next Nissan in Easley?
Picking out a new vehicle is exciting. You get to choose the color and the body style you like. Then add the most important features to suit your driving preferences. You also need to decide on your method of financing. This is where some of our Simpsonville customers have questions. You want to make the best financial decision, but it can be confusing. Here's an overview of the pros and cons of buying or leasing a new Nissan from Benson Nissan of Easley.
Financing | Pros and Cons
Pros
- Equity: Many drivers with lower or no credit may turn to financing to help them build equity. When you make your payments on time, you will find yourself building credit to strengthen your buying power.
- Mileage/Customizations: When you finance a new car through a loan, you may take it on that long road trip outside of Piedmont and make customizations to it. Auto loans do not set mileage or accessorizing limits as lease agreements do.
- Ownership: Once your auto loan is fully paid off, the vehicle is yours to do with as you choose. Buying or financing is a great solution for Powdersville, SC customers who have a particular new Nissan or used car they wish to make their own.
Cons
- Variety: With a lease agreement, shoppers can upgrade to a new car once every couple years. In an auto loan, you remain committed to one car for the long-term.
- Depreciation: Each new car loses a percentage of its value the minute you first drive it off the lot. While the vehicle is still in excellent condition, its resale value diminishes considerably.
- Payments: In an auto loan, your monthly payments may be higher, depending on your loan term. Typically, the more you can put down at signing, the less you will pay in the long-term.
Leasing | Pros and Cons
Pros
- Warranty: With each new Nissan lease agreement, the vehicle remains covered under its factory-backed warranties, making repairs and maintenance easy and affordable.
- Low Payments: In a lease agreement, Anderson, SC shoppers will likely pay less monthly as these payments only cover a certain percentage of the vehicle's value. No trade-in is required in a lease.
- Upgrades: Leasing ensures you always drive the newest car with the latest technology. After your contract is complete, bring the vehicle back to us in Easley and pick out another Nissan to lease.
Cons
- Mileage: Leasing is generally ideal for drivers with shorter commutes who do not take frequent road trips. Drivers who lease a Nissan select their annual mileage, which must not be exceeded to prevent financial penalties.
- Maintenance: A leased vehicle must be returned in as close to its original condition as possible. Lessees may be required to cover the cost of repairs, outside normal wear-and-tear.
- Customizations: Most lease contracts place restrictions over the amount of customizations Greenville, SC drivers can make to their new Nissan. Permanent alterations are generally not allowed with leasing.
Hopefully, you have a better idea which financing option is best for your situation. If you still have questions, our financing team would be happy to discuss the choices with your further. Feel free to call our showroom or stop in to see us at Benson Nissan of Easley, near Greenville, SC. We want to help you get the right vehicle and financing terms for you.
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Benson Nissan Easley
4676 Calhoun Memorial Hwy.
Easley, SC 29640
- Sales: (864) 850-6440
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