Buy vs. Lease: Which to Choose

One of the most common questions we get is whether a driver should lease or buy their new car. There are some important differences between these two financial options, differences that you will want to keep in mind when you are preparing to invest in a new vehicle. As such, we have broken down the pros and cons of both leasing and buying here, so you can make a more informed purchasing decision.



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Buying: Ownership, but with a Cost

When you buy a car, you gain ownership of it. That much everyone knows, regardless of whether you are a new car buyer or an experienced one. However, buying a car involves a lot more than just putting some money down. Your monthly price, for instance, is a calculation of your total loan amount, your down payment, the APR you get, and the length of the loan. Because of how this is calculated, your monthly payment may be on the higher end when you buy a car, as opposed to when you lease one.

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Leasing: Best for Short-Term Driving

The other side of the coin is leasing, which a lot of people have chosen when they need a short-term driving option. Leasing is often more affordable on a monthly basis, because the monthly price is calculated differently. It also does not involve taking out an automotive loan. However, leasing a vehicle does not give you ownership of it. Think of it like renting an apartment rather than buying a house. As such, there are mileage parameters you must adhere to and you must keep the vehicle in good condition. Still, leasing can be a good option for city drivers who need a short-term, affordable driving option.

Ready To Learn More?

If you would like to learn more about leasing or buying, please feel free to visit us at Courtesy Nissan, located in Altoona, PA. Our team would be proud to help you schedule a test drive with your preferred automotive option.

We look forward to assisting you with all of your vehicle-related needs.

We are proud to serve folks throughout Hollidaysburg, Tyrone, PA; and Duncansville.