Differences Between Leasing and Buying

What's the difference between leasing and financing a car? Should you lease or finance your next vehicle? Read below to learn the differences and similarities of leasing and buying a Nissan with us at Port City Nissan!

Who Owns the Car?
When you lease a Nissan with us, you do not own the car. Nissan owns the vehicle, while you pay for the use of it. This means you'll pay less monthly than if you were to buy the car.
Who Owns the Car?
When you finance a car, you technically do not own it until you finish making payments and the title is sent to you. If modifying your car is something that interests you, buying is the way to go!
Up-Front Costs
Leases generally do not require any type of down payment, other than your first month's payment. You can benefit from putting money down on the lease as it will lower your monthly payment.
Up-Front Costs
When financing a car, the lender can request a down payment, but not all do. You can use a trade in as a down payment if that's easier, and the exact amount of the down payment will vary based on the lender and your credit history.
Future Value
With a lease, because you don't own the vehicle, chances are you won't sell it, so you don't have to even worry about the future value! However, you do have mileage limits and wear and tear guidelines that, if exceeded, will cost you extra money when you turn the vehicle in. 
Future Value
There is no pre-determined future value of your car, but keeping your car clean and following the manufacturer's maintenance schedule will help your car's future value. We would be more than happy to appraise your vehicle if you're curious about it's current value!
End of Payments
Most of our customers turn in their vehicle at or before the end of their lease term, but some like to purchase it at the either of their lease. You can also trade in your leased vehicle before the lease is over, just let us know what you're thinking and we'd be happy to accommodate.

End of Payments
Once you've paid off what you owe on your contract, you own your vehicle 100%! Your lender will send you a Lien Release and the title to your car. Of course, you can always trade your car in before you've paid it off if you're looking to make a change! Ask us how!

Questions? We're here to help!

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