When you're looking to buy your next new vehicle, you'll typically have two purchasing options: finance or lease. Deciding which one fits you best is key to having a smooth car-buying process. Here are a few differences that leasing and financing offer every car buyer.
Do you like to upgrade to the newest models every few years or so? You'll want to explore leasing. When you lease a vehicle, it comes with a set term length, with most leasing terms containing a three-year timeline. Once the term has expired, you can then move on to another vehicle or buy out your current model.
Are you someone who prefers to own your vehicle for many years? You'll want to consider financing. Financing a new car means you have a long-term loan, and, once this loan is paid off, you won't need to make any monthly payments.
While every lease or loan is different, for the most part, leases are less expensive upfront, while loans are less expensive in the long run. Monthly lease payments tend to be lower than monthly finance payments, but never go away like loan payments do when they are paid off.
Both options have many pros and cons. For example, when you lease, you don't have to worry about any large repair bills (thanks to the new car warranty), but there are stipulations and rules you must follow to keep your lease intact. When you finance, there won't be any fees or rules for you to follow, but you are also responsible for every repair need.
If you'd like to discuss your lease and loan options, don't hesitate to contact our Fred Beans Nissan of Flemington dealership. We also offer a wide range of new Nissan vehicles for every Bridgewater, Princeton, or beyond driver and have a long list of monthly specials to consider. Feel free to fill out our online finance application or learn more about our finance center from your Clinton, East Windsor, or Flemington area home today.
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