dehaze
Fuccillo Nissan Clearwater
dehaze
Fuccillo Nissan Clearwater

Buying vs. Leasing

When it comes to buying or leasing a car the options can be confusing. To help you make an informed decision we have provided the information below. We hope you find it informative and useful.

Buying

WHO OWNS IT

Whether you pay for the car with cash, or finance it and make monthly payments, either way it’s yours. Of course, if you’re financing it, you’ll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don’t, they have the right to repossess it.

UP-FRONT COSTS

If you’re financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender’s requirements and your credit score.

FUTURE VALUE

Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. Remember to be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility and routine washing!

END OF PAYMENTS

Once you’ve paid off what you owe on your contract, that’s it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.

Leasing

WHO OWNS IT

You do not own the car when you lease. You’re paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car. Additionally, with a lease you can have a different new vehicle every 2-3 years.

UP-FRONT COSTS

Leases often do not require any type of a down payment. All you usually have to pay is the first month’s payment, a security deposit, the acquisition fee and other fees and taxes. But if you want to lower your monthly payments you can always pay more upfront.

FUTURE VALUE

In most leases you don’t end up owning it so you don’t end up selling it. That’s the financial institution’s job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in. lease set up the way you want it.

END OF PAYMENTS

Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we’ll make sure you have your lease set up the way you want it.

BEST CARS TO LEASE

The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value.

To Buy or to Lease?

This is me This might be me This is not me
I always drive over 15,000 miles a year.
I like to customize my car by tinting windows, adding pinstripes, sound system, etc.
I usually get emotionally attached to my car.
I love to see those payments dwindle to nothing.
I’ve got to have (real) new car smell.
I like the security of driving a car under warranty.
I usually choose a car that I can’t afford.
My current car is more than 4 years old.
I am willing to trade ownership for low, monthly payments.
My company reimburses me for car expenses.
I like to do my own repair work.
I typically drive less than 12,000 miles a year.