Should You Lease or Buy a Car From the New Car Dealership? 7 Questions to Ask Yourself
Getting a new car is exciting. There are many decisions to make. One of the most common questions we get atKingston Nissan is in regards to leasing versus buying. Truthfully, there’s not a really a right answer, it depends on you and your situation.
If you take a look at your car ownership goals you can begin to get an idea of whether you should lease a new car or buy one.
Ask yourself the following questions and let your own answers help you in your decision.
- How Much Do You Drive?
A lease will allow for a certain amount of mileage during your term. If you drive more than the allotted amount you will need to pay more money based on the extra driving. This can add up quickly if you’re not careful. Speak to your sales professional about the amount of driving you do and make sure that mileage limits fits your needs. Generally, if you drive a lot you may want to buy your next new car.
- Do You Use Your Vehicle for Business?
Are you a real estate agent or a business owner who likes to impress clients by driving around a new car? A lease can allow you to quickly get that taste of luxury you’re craving without the worries of ownership. Maybe a new Nissan GT-R would look nice in your driveway. Check with your accountant, your lease payment may be a tax write off.
- Are You a Neat-Freak or a Little Messy?
It’s amazing the messes that can happen when you drive a car for a few years. Drinks get spilled, bumpers get dinged, door panels get scuffed and various other messes and damages can quickly occur. Leases will usually allow for average wear and tear, but damages can quickly result in paying unexpected money at the end of your term. This is something you’ll want to take into account, especially if you plan on having children in your vehicle.
- No Adding Stuff to Your Car
Are you the type of person that enjoys adding rims, running boards or spoilers to your car? If you lease, you’ll need to keep that modified stuff off of your car. The leased vehicle must come back the way it was when you drove it away from the dealership. If you’re into ‘mods’ you may want to stick with buying your new car.
- Cash or Credit?
A lot of people like the idea that leasing can maximize your cash flow. Rather than spending your savings on a downpayment you can spread it out through monthly payments. A good credit score can get some really good interest rates from the factory which can save you some money. At Kingston Nissan we have lots of great lease payment and automotive financing options.
- You Like New Cars
Some people are new car people. They want to drive the latest model and leasing it seems to be a great option. You work hard for your money and you deserve to spend it on the things you like (new cars included). Prestige and the enjoyment of the latest designs and technologies makes leasing an exciting option for many.
There are advantages to both leasing and buying a new vehicle. All Kingston new car dealerships will offer both options. Really, it comes down to personal preference and what’s better for you and your lifestyle. At Kingston Nissan we have lots of great deals for both leasing and buying every month. It’s important to weigh the pros and cons of both and speak to a new car sales professional to determine your options. We’re always here to help. Let us know if you have any questions about leasing versus buying.